Medical companies are leveraging cloud technologies to enhance patient care and operational efficiency. Recent patents showcase innovations like automated cloud-based electronic medical record replication for seamless data sharing and secure cloud relay systems for implantable devices to boost data security. Other advancements include voice-activated cloud-connected dialysis systems and platforms for creating custom clinical trial applications with real-time feedback. These technologies drive strategic deals and impact hiring, shaping the industry’s future. The impact of cloud extends beyond the medical device sector, influencing various industries. GlobalData’s cloud market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the medical device industry regarding cloud. It provides an overview of recent developments in cloud-related deals, talent acquisition, and patent filings within the medical device industry.
Diverse applications of cloud in medical device industry
Medical companies are harnessing innovative cloud technologies to enhance patient care and streamline operations. Recent patents reveal advancements such as a cloud-based system for automated replication of electronic medical records, enabling seamless data sharing between patients and healthcare providers (Invaryant Health LLC). Additionally, secure communication methods for implantable medical devices through cloud relay systems enhance data security (Poltorak Technologies LLC). A voice-activated dialysis system connected to a cloud application allows for non-touch interactions, improving user experience and efficiency (Fresenius Medical Care AG & Co KGaA). Furthermore, a platform for creating custom clinical trial applications reduces development time and costs, optimizing usability through real-time feedback (Definitive Media Corp). These innovations position companies to improve patient outcomes and operational efficiency significantly.
The industry experienced a 44% decline in the number of cloud-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of cloud-related patent applications in the medical device industry witnessed a drop of 23% compared with Q2 2023.
Strategic deal trends in cloud 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 cloud. 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 cloud in the medical device industry.
In Q2 2024, the number of cloud-related deals in the medical device industry remined flat by 0.00% compared with Q2 2023. On a quarterly basis, there was 65% 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 17% drop compared with the previous quarter. On an annual basis, job postings also declined by 3%. Notably, computer and mathematical occupations, with a share of 38%, emerged as the top cloud-related job roles within the medical device industry in Q2 2024, with new job postings drop by 19% quarter-on-quarter. Management occupations came in second with a share of 14% in Q2 2024, with new job postings dropping by 8% over the previous quarter. The other prominent cloud roles include architecture and engineering occupations with a 7% share in Q2 2024, and business and financial operations occupations with a 3% share of new job postings.
ResMed, Thermo Fisher Scientific, GE HealthCare Technologies, Biotronik SE, and Koninklijke Philips are among the top companies leading in cloud hiring within the medical device industry.
Countries driving adoption of cloud in medical device industry
The US is the leading country in cloud adoption within the medical device industry, boasting the highest number of cloud-related patents, jobs, and deals. Meanwhile, Australia, India, the UK and Japan also maintain significant positions in cloud adoption within the medical device industry.
Strategic investments in cloud technology are positioning medical device companies at the forefront of innovation. With the US leading in cloud-related patents, jobs, and deals, these advancements are set to significantly improve healthcare delivery worldwide.
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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.
