The medical devices industry continues to be a hotbed of patent innovation. Activity is driven by increased need for homecare, preventative treatments, early diagnosis, reducing patient recovery times and improving outcomes, and growing importance in technologies such as machine learning, augmented reality, 5G and digitalization. In the last three years alone, there have been over 230,000 patents filed and granted in the medical devices industry, according to GlobalData’s report on Environmental sustainability in medical: biocompatible expandable stents. Buy the report here.
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According to GlobalData’s Technology Foresights, which uses over 165,000 patents to analyze innovation intensity for the medical devices industry, there are 35+ innovation areas that will shape the future of the industry.
Biocompatible expandable stents is a key innovation area in environmental sustainability
Biocompatible expandable stents are medical devices used for treating various conditions within the human body, particularly in blood vessels and the skeletal system. These stents are designed to be implanted in a compressed form and then expanded to provide structural support and promote the natural healing process. They are typically made from biodegradable materials, such as polylactic acid or polyglycolic acid, and may incorporate coatings or reinforcing components to enhance their functionality and biocompatibility.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 1020+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of biocompatible expandable stents.
Key players in biocompatible expandable stents – a disruptive innovation in the medical devices industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to biocompatible expandable stents
Source: GlobalData Patent Analytics
Edwards Lifesciences and Medtronic are two of the leading patent filers in biocompatible expandable stents. Some other key patent filers include Boston Scientific, Abbott Laboratories, and W. L. Gore & Associates.
In terms of application diversity, Aortic Innovations leads the pack, while Medtentia International and Getinge stood in the second and third positions, respectively. By means of geographic reach, Aortic Innovations held the top position, followed by 4C Medical Technologies and MiMedx Group.
Biocompatible expandable stents have a promising future, with ongoing improvements in materials and design. The demand for these stents is increasing as they could reduce the need for repeat interventions, improve patient outcomes, and contribute to the advancement of personalized medicine.
To further understand the key theme and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.
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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.
