Medical companies are leveraging cloud technologies to innovate operations, with recent patents in telemedicine kiosks, data integration, and real-time glucose monitoring. These advancements enhance communication, data management, and patient monitoring, improving care and efficiency. Companies like Intelerad Medical Systems, ResMed, and Medtronic are leading in cloud-related hiring, focusing on strategic investments and innovation to stay at the forefront of healthcare advancements. The impact of cloud extends beyond the medical device sector, influencing various industries. GlobalData’s cloud market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the medical device industry regarding cloud. It provides an overview of recent developments in cloud-related deals, talent acquisition, and patent filings within the medical device industry.
Diverse applications of cloud in medical device industry
Medical companies in the field of cloud are leveraging innovative technologies to improve their businesses. Recent patents reveal advancements such as medical services kiosks supporting telemedicine sessions, systems for surfacing contextually relevant data into workflows, and cloud-based intelligent real-time blood glucose monitoring systems. These technologies enable efficient communication, data integration, and real-time monitoring, enhancing patient care and operational efficiency. Acquiring these patents will benefit the acquirer by providing cutting-edge solutions for remote healthcare services, streamlined workflows, and accurate health monitoring. By incorporating these cloud technologies, medical companies can offer enhanced services, improve patient outcomes, and stay at the forefront of healthcare innovation.
The industry experienced a 45% decline in the number of cloud-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of cloud-related patent applications in the medical device industry witnessed a rise of 81% compared with Q1 2023.
Strategic deal trends in cloud in medical device industry
Medical Device companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cloud. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of cloud in the medical device industry.
In Q1 2024, the number of cloud-related deals in the medical device industry declined by 16% compared with Q1 2023. On a quarterly basis, the number of deals in Q1 2024 compared to the previous quarter, remained flat.
Impact on hiring
In terms of new job posting, in Q1 2024, the medical device industry experienced a 30% growth compared with the previous quarter. On an annual basis, job postings also declined by 4%. Notably, computer and mathematical occupations, with a share of 39%, emerged as the top cloud-related job roles within the medical device industry in Q1 2024, with new job postings rising by 10% quarter-on-quarter. Management occupations came in second with a share of 12% in Q1 2024, with new job postings rising by 44% over the previous quarter. The other prominent cloud roles include architecture and engineering occupations with a 7% share in Q1 2024, and business and financial operations occupations with a 3% share of new job postings.
Intelerad Medical Systems, ResMed, Koninklijke Philips, Medtronic, and GE HealthCare Technologies are among the top companies leading in cloud hiring within the medical device industry.
Countries driving adoption of cloud in medical device industry
The US is the leading country in cloud adoption within the medical device industry, boasting the highest number of cloud-related patents, jobs, and deals. Meanwhile, France, Canada, China and Australia also maintain significant positions in cloud adoption within the medical device industry.
In conclusion, cloud technologies in the medical device industry drive innovation and efficiency, evidenced by recent patents and strategic deals. Despite a temporary decline in deals, the sector shows robust growth in job postings, particularly in cloud-related roles, signaling continued investment and advancement in healthcare technology.
To further understand GlobalData's analysis on cloud in the medical device industry, 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 Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. 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.
