The global medical industry experienced a 35% decline in the number of social responsibility-related patent applications in Q3 2024 compared with the previous quarter. The total number of social responsibility-related grants dropped by 27% 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 social responsibility-related patent applications in the medical industry was 84 in Q3 2024, versus 129 in the prior quarter.
The top five companies accounted for 15% of patenting activity
Analysis of patenting activity by companies shows that Stryker filed the most social responsibility patents within the medical industry in Q3 2024. The company filed 3 social responsibility-related patents in the quarter. It was followed by Honeywell International with 3 social responsibility patent filings, Invent Medical Group (3 filings), and Kao (2 filings) in Q3 2024.
Patenting activity was driven by the US with a 20% share of total patent filings
The largest share of social responsibility related patent filings in the medical industry in Q3 2024 was in the US with 20%, followed by China (12%) and Japan (8%). The share represented by the US was 9% lower than the 29% 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.
