The global medical industry experienced a 23% decline in patent filings in Q3 2024 compared with the previous quarter. The total number of grants rose by 10%, resulting in overall patent publications decreasing by 23.5%, 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 patent applications in the medical industry was 30,461 in Q3 2024, versus 39,792 in the prior quarter. Filings were down 25% year-on-year and decrease 23% quarter-on-quarter. This compares to a 25% year-on-year decrease in patent grants and 23% decline in quarter-on-quarter.
Most patenting activity has been in the General Surgery Devices sector, where the number of patents filed Q2 2024 was 4111, a drop of 22% versus the previous quarter. The second-largest patent count was in Digital Health (3872, down 19%) and then Diagnostic Imaging in third (2525, down 40%).
The top five companies accounted for 9% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Johnson & Johnson with 717, followed by Becton Dickinson and Co with 547 and Medtronic with 542.
Patenting activity was driven by the US with a 27% share of total patent filings
The largest share of patent filings in the medical industry in Q3 2024 was in the US with 27%, followed by China (23%) and Japan (7%). The share represented by the US was 6% higher than the 21% 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.
