The global medical industry experienced an 11% decline in patent filings in Q1 2024 compared with the previous quarter. The total number of grants dropped by 13%, resulting in overall patent publications decreasing by 11.3%, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q1 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.

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Notably, the number of patent applications in the medical industry was 32,020 in Q1 2024, versus 36,098 in the prior quarter. Filings were down 9% year-on-year and decrease 11% quarter-on-quarter. This compares to a 9% year-on-year decrease in patent grants and 11% decline in quarter-on-quarter.

Most patenting activity has been in the General Surgery Devices sector, where the number of patents filed Q4 2023 was 4218, a drop of 15% versus the previous quarter. The second-largest patent count was in Diagnostic Imaging (2910, down 13%) and then Other Remote Patient Monitoring in third (2456, down 18%).

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 696, followed by Becton Dickinson and Co with 645 and Medtronic with 605.

Patenting activity was driven by China with a 28% share of total patent filings

The largest share of patent filings in the medical industry in Q1 2024 was in China with 28%, followed by the US (24%) and Japan (8%). The share represented by China was 2% lower than the 29% share it accounted for in Q4 2023.

For further understanding of GlobalData's Medical Devices: Patents Trends Q1 2024, buy the databook here.

This content was updated on 18 April 2024

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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.