The global medical industry experienced a 20% decline in the number of internet of things-related patent applications in Q1 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 24% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Internet of Things will prove to have a transformative impact on the medical devices sector. GlobalData’s Internet of Things (IoT) Market report helps keep abreast of the latest trends in Internet of Things, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, the number of internet of things-related patent applications in the medical industry was 764 in Q1 2023, versus 957 in the prior quarter.
The top five companies accounted for 10% of patenting activity
Analysis of patenting activity by companies shows that Samsung Group filed the most internet of things patents within the medical industry in Q1 2023. The company filed 23 internet of things-related patents in the quarter, compared with 17 in the previous quarter. It was followed by Koninklijke Philips with 16 internet of things patent filings, Johnson & Johnson (16 filings), and Huawei Investment (11 filings) in Q1 2023.
Patenting activity was driven by the US with a 6% share of total patent filings
The largest share of internet of things related patent filings in the medical industry in Q1 2023 was in the US with 6%, followed by Japan (6%) and China (5%). The share represented by the US was 1% higher than the 5% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on Internet of Things (IoT) Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026 buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
