The global medical industry experienced a 31% decline in the number of future of work-related patent applications in Q3 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 8% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q3 2023 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 926 in Q3 2023, versus 1,336 in the prior quarter.
The top five companies accounted for 14% 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 Q3 2023. The company filed 41 future of work-related patents in the quarter, compared with 50 in the previous quarter. It was followed by Johnson & Johnson with 38 future of work patent filings, Danaher (17 filings), and ResMed (17 filings) in Q3 2023.
Patenting activity was driven by the US with a 33% share of total patent filings
The largest share of future of work related patent filings in the medical industry in Q3 2023 was in the US with 33%, followed by China (17%) and Japan (9%). The share represented by the US was 0.08% higher than the 33% share it accounted for in Q2 2023.
For further understanding of GlobalData's Medical Devices: Patents Trends Q3 2023, buy the databook here.