Medical companies are leveraging big data technologies to revolutionize patient care and operational efficiency. Recent patents highlight innovations in predictive analytics for addiction relapse, AI-driven cancer diagnostics, and cloud-integrated chronic pain management platforms. The surge in big data-related deals and job postings underscores the sector’s commitment to advancing these technologies, promising enhanced healthcare delivery and improved patient outcomes. The impact of big data extends beyond the medical device sector, influencing various industries. GlobalData’s big data market report provides comprehensive analysis of the big data market. Buy the report here.
Smarter leaders trust GlobalData
This article presents a quarterly round-up of the latest trends in the medical device industry regarding big data. It provides an overview of recent developments in big data-related deals, talent acquisition, and patent filings within the medical device industry.
Diverse applications of big data in medical device industry
Medical companies are harnessing advanced big data technologies to enhance patient care and operational efficiency. Recent patents reveal innovative applications, such as Oracle Corp's predictive tools for addiction relapse, which utilize regression models to identify at-risk individuals, enabling timely interventions. VisionGate Inc. is advancing cancer diagnostics through AI-based cell classification, streamlining the identification of lung cancer cells via 2D and 3D imaging. Affiliated Hospital of Nantong University is developing a chronic pain management platform that integrates patient data with cloud computing for AI-assisted health risk analysis. Additionally, UNITED CREST HEALTHCARE PTE LTD is enhancing telemedicine with a smart health management system that automates diagnosis and insurance claims, improving patient access to care. These technologies collectively promise to transform healthcare delivery and patient outcomes.
The industry experienced a 48% decline in the number of big data-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of big data-related patent applications in the medical device industry witnessed a drop of 2% compared with Q2 2023.
Strategic deal trends in big data in medical device industry
Medical Device companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in big data. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of big data in the medical device industry.
In Q2 2024, the number of big data-related deals in the medical device industry remined flat by 0.00% compared with Q2 2023. On a quarterly basis, there was 18% increase in the number of deals in Q2 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2024, the medical device industry experienced a 0.68% growth compared with the previous quarter. On an annual basis, job postings also grew by 0.98%. Notably, Computer and mathematical occupations, with a share of 21%, emerged as the top big data-related job roles within the medical device industry in Q2 2024, with new job postings rising by 6% quarter-on-quarter. Management occupations came in second with a share of 16% in Q2 2024, with new job postings rising by 16% over the previous quarter. The other prominent big data roles include architecture and engineering occupations with a 13% share in Q2 2024, and business and financial operations occupations with a 8% share of new job postings.
Thermo Fisher Scientific, Medtronic, Abbott Laboratories, GE HealthCare Technologies, and Koninklijke Philips are among the top companies leading in big data hiring within the medical device industry.
Countries driving adoption of big data in medical device industry
The US is the leading country in big data adoption within the medical device industry, boasting the highest number of big data-related patents, jobs, and deals. Meanwhile, China, Canada, India and Australia also maintain significant positions in big data adoption within the medical device industry.
In conclusion, despite a decline in patent applications, the growth in big data-related deals and job postings indicates a robust and evolving sector. These advancements continue to drive significant improvements in patient care and operational efficiency in the medical device industry.
To further understand GlobalData's analysis on big data in the medical device industry, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. 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.
