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May 6, 2022

Medical industry companies are increasingly innovating in fintech

Analysis of patent filings shows a growing level of fintech related applications in the industry over the past year

By Data Journalism Team

Research and innovation in fintech in the medical sector is on the rise.

The most recent figures show that the number of fintech related patent applications in the industry stood at 12 in the three months ending March – up from five over the same period in 2021.

Figures for patent grants related to fintech followed a different pattern to filings – shrinking from 10 in the three months ending March 2021 to three in the same period in 2022.

The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

Fintech is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

The figures also provide an insight into the largest innovators in the sector.

Johnson & Johnson was the top fintech innovator in the medical sector in the latest quarter. The company, which has its headquarters in the United States, filed six fintech related patents in the three months ending March. That was up from two over the same period in 2021.

It was followed by the United States based Danaher Corp with two fintech patent applications, the United States based Becton Dickinson and Co (2 applications), and the United States based DexCom Inc (1 applications).

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