The global medical industry experienced a 4% decline in patent filings in Q3 2023 compared with the previous quarter. The total number of grants rose by 0.88%, resulting in overall patent publications decreasing by 4.6%, 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 patent applications in the medical industry was 33,044 in Q3 2023, versus 34,622 in the prior quarter. Filings were down 21% year-on-year and decrease 4% quarter-on-quarter. This compares to a 21% year-on-year decrease in patent grants and 4% decline in quarter-on-quarter.
Most patenting activity has been in the General Surgery Devices sector, where the number of patents filed Q2 2023 was 4197, a drop of 10% versus the previous quarter. The second-largest patent count was in Healthcare IT (3378, down 14%) and then Diagnostic Imaging in third (2930, down 15%).
The top five companies accounted for 9% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Johnson & Johnson with 801, followed by Becton Dickinson and Co with 679 and Medtronic with 616.
Patenting activity was driven by China with a 29% share of total patent filings
The largest share of patent filings in the medical industry in Q3 2023 was in China with 29%, followed by the US (24%) and Japan (7%). The share represented by China was 4% higher than the 25% share it accounted for in Q2 2023.
For further understanding of GlobalData's Medical Devices: Patents Trends Q3 2023, buy the databook here.