The global medical industry experienced a 43% decline in the number of environmental sustainability-related patent applications in Q2 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 42% in Q2 2023, according to GlobalData’s Patent Analytics. Environmental Sustainability is a priority in most of the industries today including Medical Devices. GlobalData’s ESG (Environmental, Social, and Governance) Top Trends by Sector – Thematic Research report assesses the impact of ESG by identifying key trends, company filings, and hiring pattern across 16 key sectors. Buy the report here.
Notably, the number of environmental sustainability-related patent applications in the medical industry was 203 in Q2 2023, versus 355 in the prior quarter.
The top five companies accounted for 27% of patenting activity
Analysis of patenting activity by companies shows that Medtrum Technologies filed the most environmental sustainability patents within the medical industry in Q2 2023. The company filed 18 environmental sustainability-related patents in the quarter, compared with 4 in the previous quarter. It was followed by Koninklijke Philips with 15 environmental sustainability patent filings, DexCom (9 filings), and Sun Yat-sen University (6 filings) in Q2 2023.
Patenting activity was driven by the US with a 51% share of total patent filings
The largest share of environmental sustainability related patent filings in the medical industry in Q2 2023 was in the US with 51%, followed by China (38%) and Japan (8%). The share represented by the US was 5% higher than the 45% share it accounted for in Q1 2023.
To further understand GlobalData's analysis on ESG (Environmental, Social, and Governance) Top Trends by Sector - Thematic Research buy the report here.