ROKIT Healthcare said on the 4th that it was notified of a decision to register a patent in the United Arab Emirates (UAE) for its artificial intelligence (AI)-based cartilage regeneration technology.
It is an original technology in which AI precisely analyzes the damaged cartilage area and then automatically designs and prints bioink and scaffolds tailored to the patient's condition. The company noted this is its second global achievement, following the successful commercialization of cartilage regeneration treatment in the South American market.
The company said the patent registration decision is linked to its ongoing cartilage regeneration demonstration project with the largest local healthcare corporations in the UAE, and that once registration is completed, it expects to secure both local rights protection for the technology and business stability.
ROKIT Healthcare signed a strategic partnership agreement last month with the largest local healthcare partner linked to sovereign wealth funds in the UAE for AI cartilage regeneration treatment. Through this collaboration, the company aims to quickly introduce its regeneration treatment platform to local hospitals and have it listed in standard treatment guidelines in the Middle East.
The Middle East and Africa (MEA) region is seeing fast-rising demand for joint disease treatments due to aging, a growing obese population, and the spread of sports activities. According to the market research firm Research and Markets, the region's osteoarthritis treatment market is projected to grow at an average annual rate of 6.5% to reach about $760 million (about 1 trillion won) by 2030.
A company official said it plans to actively push ahead with local clinical trials and commercialization procedures.