The global medical industry experienced a 41% decline in the number of internet of things-related patent applications in Q3 2024 compared with the previous quarter. The total number of internet of things-related grants dropped by 8% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of internet of things-related patent applications in the medical industry was 1,283 in Q3 2024, versus 2,172 in the prior quarter.
The top five companies accounted for 11% of patenting activity
Analysis of patenting activity by companies shows that DexCom filed the most internet of things patents within the medical industry in Q3 2024. The company filed 38 internet of things-related patents in the quarter, compared with 50 in the previous quarter. It was followed by Abbott Laboratories with 35 internet of things patent filings, Samsung Electronics (30 filings), and Medtronic (19 filings) in Q3 2024.
Patenting activity was driven by the US with a 47% share of total patent filings
The largest share of internet of things related patent filings in the medical industry in Q3 2024 was in the US with 47%, followed by China (6%) and Japan (5%). The share represented by the US was 14% higher than the 33% share it accounted for in Q2 2024.
For further understanding of GlobalData's Medical Devices: Patents Trends Q3 2024, buy the databook here.
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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.
