The global medical industry experienced a 19% decline in the number of future of work-related patent applications in Q1 2024 compared with the previous quarter. The total number of future of work-related grants dropped by 6% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q1 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of future of work-related patent applications in the medical industry was 917 in Q1 2024, versus 1,131 in the prior quarter.
The top five companies accounted for 15% of patenting activity
Analysis of patenting activity by companies shows that Becton Dickinson and Co filed the most future of work patents within the medical industry in Q1 2024. The company filed 47 future of work-related patents in the quarter, compared with 44 in the previous quarter. It was followed by Johnson & Johnson with 37 future of work patent filings, Edan Instruments (19 filings), and Koninklijke Philips (18 filings) in Q1 2024.
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Patenting activity was driven by the US with a 37% share of total patent filings
The largest share of future of work related patent filings in the medical industry in Q1 2024 was in the US with 37%, followed by China (19%) and Japan (10%). The share represented by the US was 3% higher than the 34% share it accounted for in Q4 2023.
For further understanding of GlobalData's Medical Devices: Patents Trends Q1 2024, buy the databook here.
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