The medical devices industry continues to be a hotbed of innovation. Activity is driven by increased need for homecare, preventative treatments, early diagnosis, reducing patient recovery times and improving outcomes, as well as a growing importance in technologies such as machine learning, augmented reality, 5G and digitalisation. In the last three years alone, there have been over 450,000 patents filed and granted in the medical devices industry, according to GlobalData’s report on Artificial Intelligence in Medical Devices: AI-assisted radiology. Buy the report here.
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According to GlobalData’s Technology Foresights, which uses over 550,000 patents to analyse innovation intensity for the medical devices industry, there are 150+ innovation areas that will shape the future of the industry.
AI-assisted radiology is a key innovation area in artificial intelligence
Artificial Intelligence (AI) assisted radiology has the potential to enhance the utility of traditional radiology from manually diagnosing changes in organ features as an indication of a disease to a true diagnostic tool that relates features to specific diseases in an automated and accurate process. This will greatly help the radiologist and other clinicians in interpreting images and provide more accurate and timely diagnoses which will improve patient outcomes.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 40+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of AI-assisted radiology.
Key players in AI-assisted radiology – a disruptive innovation in the medical devices industry
‘Application diversity’ measures the number of different applications identified for each relevant patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to AI-assisted radiology
Source: GlobalData Patent Analytics
Siemens is one of the leading patent filers in AI-assisted radiology. Some other key patent filers in the medical devices space include Canon, General Electric, SVXR, Samsung Group and GE Healthcare.
In terms of geographic spread, IBEX Innovations leads the pack, followed by Elekta, Asto CT and Varex Imaging. By means of application diversity, Varex Imaging leads, with ConforMIS and Nikon in second and third place, respectively.
AI has the potential to augment radiology workflows in radiology in many ways. AI-assisted radiology can improve surgical and exam planning, image reconstruction, image analysis, and support clinical decision making. AI-assisted radiology is expected to become a new set of novel tools in the hands of the radiologist. Such use of AI is likely to be ubiquitous and somewhat invisible to the physician, blending into the background of clinical decision-making processes.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
