The global medical industry experienced a 24% decline in the number of social responsibility-related patent applications in Q3 2023 compared with the previous quarter. The total number of social responsibility-related grants dropped by 18% 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 social responsibility-related patent applications in the medical industry was 102 in Q3 2023, versus 134 in the prior quarter.
The top five companies accounted for 12% of patenting activity
Analysis of patenting activity by companies shows that ResMed filed the most social responsibility patents within the medical industry in Q3 2023. The company filed 3 social responsibility-related patents in the quarter, compared with 3 in the previous quarter. It was followed by Jabil with 3 social responsibility patent filings, Zimmer Biomet (2 filings), and Georgia Institute of Technology (2 filings) in Q3 2023.
Patenting activity was driven by the US with a 32% share of total patent filings
The largest share of social responsibility related patent filings in the medical industry in Q3 2023 was in the US with 32%, followed by China (19%) and Japan (7%). The share represented by the US was 8% higher than the 24% share it accounted for in Q2 2023.
For further understanding of GlobalData's Medical Devices: Patents Trends Q3 2023, buy the databook here.