The global medical industry experienced a 24% decline in the number of internet of things-related patent applications in Q4 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 8% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q4 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 1,539 in Q4 2023, versus 2,025 in the prior quarter.
The top five companies accounted for 13% of patenting activity
Analysis of patenting activity by companies shows that Medtronic filed the most internet of things patents within the medical industry in Q4 2023. The company filed 68 internet of things-related patents in the quarter, compared with 43 in the previous quarter. It was followed by Samsung Group with 51 internet of things patent filings, DexCom (36 filings), and Koninklijke Philips (27 filings) in Q4 2023.
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Patenting activity was driven by the US with a 45% share of total patent filings
The largest share of internet of things related patent filings in the medical industry in Q4 2023 was in the US with 45%, followed by Japan (7%) and China (6%). The share represented by the US was 7% higher than the 38% share it accounted for in Q3 2023.
For further understanding of GlobalData's Medical Devices: Patents Trends Q4 2023, buy the databook here.
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