The medical devices industry continues to be a hotbed of innovation, with activity driven by increased need for homecare, preventative treatments, early diagnosis, reducing patient recovery times and improving outcomes, as well as a growing importance in technologies such as machine learning, augmented reality, 5G and digitalisation. In the last three years alone, there have been over 450,000 patents filed and granted in the medical devices industry, according to GlobalData’s report on Artificial Intelligence in Medical Devices: Clinical trials management systems.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
150+ innovations will shape the medical devices industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the medical devices industry using innovation intensity models built on over 550,000 patents, there are 150+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, AI-assisted radiology, motion artefact analysis, and treatment evaluation models are disruptive technologies that are in the early stages of application and should be tracked closely. MRI image smoothing, AI-assisted EHR/EMR, and AI-assisted CT imaging are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are computer-assisted surgeries and 3D endoscopy, which are now well established in the industry.
Innovation S-curve for artificial intelligence in the medical devices industry
Clinical trials management systems is a key innovation area in artificial intelligence
A Clinical Trial Management System (CTMS) is a software system used in the management of clinical trials. This system manages and maintains planning, reporting functions, and trial enrolees contact information, alongside monitoring of deadlines and milestones.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 70+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of clinical trials management systems.
Key players in clinical trials management systems – a disruptive innovation in the medical devices industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to clinical trials management systems
Source: GlobalData Patent Analytics
Enlitic is one of the leading patent filers in clinical trials management system software. Some other key patent filers in the field include Predictive Safety, Apple, Koninklijke Philips, Becton Dickinson, Oracle, International Business Machines (IBM) and DEKA Research and Development.
In terms of application diversity, MapHabit leads the pack, followed by Predictive Safety and Becton Dickinson. By means of geographic reach, Magic Leap held the top position, followed by Medical Informatics and Becton Dickinson in second and third spots, respectively.
AI can enhance clinical trials management system software by linking Big Data and electronic medical records, published medical literature and clinical trial databases to improve recruitment, and by matching the selection criterion to patient characteristics, reducing contraindications and adverse events. In the era of companion diagnostics and personalised medicine, it is increasingly important that the clinical trials management team recruits the correct patients, in order to improve the prospects of the trial and facilitate eventual regulatory approvals.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.