The global medical industry experienced a 26% decline in the number of internet of things-related patent applications in Q3 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 17% 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 internet of things-related patent applications in the medical industry was 1,470 in Q3 2023, versus 1,991 in the prior quarter.
The top five companies accounted for 12% of patenting activity
Analysis of patenting activity by companies shows that DexCom filed the most internet of things patents within the medical industry in Q3 2023. The company filed 46 internet of things-related patents in the quarter, compared with 51 in the previous quarter. It was followed by Samsung Group with 39 internet of things patent filings, Medtronic (35 filings), and Abbott Laboratories (29 filings) in Q3 2023.
Patenting activity was driven by the US with a 46% share of total patent filings
The largest share of internet of things related patent filings in the medical industry in Q3 2023 was in the US with 46%, followed by China (7%) and Japan (7%). The share represented by the US was 10% higher than the 36% share it accounted for in Q2 2023.
For further understanding of GlobalData's Medical Devices: Patents Trends Q3 2023, buy the databook here.