The medical device industry is embracing cloud technologies, evidenced by recent patents, strategic deals, and job postings, reflecting a concerted effort to revolutionize healthcare operations and solutions. Despite fluctuations in patent applications and deal trends, the sector’s focus on cloud adoption remains robust, propelled by leading companies and countries driving innovation and integration. The impact of cloud extends beyond the medical device sector, influencing various industries. GlobalData’s cloud market report provides comprehensive analysis of the cloud 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 like MANNA LLC, ICU Medical Inc, CVS Health Corp, and Sleep Number Corp are leveraging new cloud technologies through their recent patents. These technologies include methods for regulating information exchanges, passing authentication tokens for secure communication, and implementing user privacy protections in home automation. Siemens AG is also innovating in the field of medical imaging with distributed cluster-based processing. These advancements will allow the acquirers to improve efficiency, security, and privacy in their operations. By utilizing these cloud technologies, the companies can enhance their services, streamline processes, and provide better healthcare solutions to their customers. Overall, the acquisition of these patents will enable the companies to stay at the forefront of innovation in the medical industry.

The industry experienced a 45% decline in the number of cloud-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of cloud-related patent applications in the medical device industry witnessed a drop of 35% compared with Q4 2022.

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 Q4 2023, the number of cloud-related deals in the medical device industry remined flat by 0.00% compared with Q4 2022. On a quarterly basis, there was 36% drop in the number of deals in Q4 2023 compared with the previous quarter.

Impact on hiring

In terms of new job posting, in Q4 2023, the medical device industry experienced a 3% drop compared with the previous quarter. On an annual basis, job postings also declined by 25%. Notably, computer and mathematical occupations, with a share of 46%, emerged as the top cloud-related job roles within the medical device industry in Q4 2023, with new job postings rising by 12% quarter-on-quarter. Architecture and engineering occupations came in second with a share of 15% in Q4 2023, with new job postings dropping by 0.68% over the previous quarter. The other prominent cloud roles include management occupations with an 11% share in Q4 2023, and business and financial operations occupations with a 3% share of new job postings.

Intelerad Medical Systems, ResMed, Medtronic, Koninklijke Philips, and Baxter International 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, China, Japan, South Korea and Sri Lanka also maintain significant positions in cloud adoption within the medical device industry.

Despite a recent decline in cloud-related patent applications, the ongoing strategic investments and job postings highlight the growing importance of cloud technologies in reshaping the landscape of the medical device industry, with the US and other leading countries driving adoption and innovation.

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.