The medical devices industry continues to be a hotbed of patent innovation. Activity is 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 digitalization. In the last three years alone, there have been over 710,000 patents filed and granted in the medical devices industry, according to GlobalData’s report on Innovation in medical: bioabsorbable coated implants. Buy the report here.
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 stabilizing 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.
30+ 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 155,000 patents, there are 30+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, neuromodulation implants, shapeable guide catheters, and biopotential signal monitoring are disruptive technologies that are in the early stages of application and should be tracked closely. Fall detection monitoring, ingestible sensors, and biofeedback wearables are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are CPR assistance devices and bioabsorbable coated implants, which are now well established in the industry.
Innovation S-curve for the medical devices industry
Bioabsorbable coated implants is a key innovation area in medical devices
Bioabsorbable coated implants are widely used in many fields, such as orthopaedics, cardiovascular and tissue engineering. They are non-permanent and eventually restore the biomechanical and immunological characteristics of the patient's tissue. They also act as a structural framework for healing and a pathway for further therapies, such as drug elution. They safely break down inside the body and do not require removal.
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 290+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of bioabsorbable coated implants.
Key players in bioabsorbable coated implants – a disruptive innovation in the medical devices industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to bioabsorbable coated implants
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|Medtronic Plc||361||Unlock Company Profile|
|Abbott Laboratories||252||Unlock Company Profile|
|Stryker Corp||201||Unlock Company Profile|
|Johnson & Johnson||192||Unlock Company Profile|
|W. L. Gore & Associates Inc||146||Unlock Company Profile|
|EW Healthcare Partners||146||Unlock Company Profile|
|Cook Group Inc||132||Unlock Company Profile|
|Micell Technologies Inc||132||Unlock Company Profile|
|Boston Scientific Corp||100||Unlock Company Profile|
|Terumo Corp||98||Unlock Company Profile|
|Blue Sail Medical Co Ltd||90||Unlock Company Profile|
|Hellman & Friedman LLC||84||Unlock Company Profile|
|Becton Dickinson and Co||66||Unlock Company Profile|
|Sernova Corp||59||Unlock Company Profile|
|MicroPort Scientific Corp||58||Unlock Company Profile|
|MiMedx Group Inc||49||Unlock Company Profile|
|Medinol Ltd||48||Unlock Company Profile|
|Kona Gold Beverage Inc||48||Unlock Company Profile|
|Merit Medical Systems Inc||42||Unlock Company Profile|
|AbbVie Inc||41||Unlock Company Profile|
|OrbusNeich||40||Unlock Company Profile|
|Exogenesis Corp||38||Unlock Company Profile|
|Biotronik SE & Co KG||37||Unlock Company Profile|
|Getinge AB||35||Unlock Company Profile|
|Concept Medical Inc||35||Unlock Company Profile|
|Freudenberg & Co KG||35||Unlock Company Profile|
|Otsuka Holdings Co Ltd||34||Unlock Company Profile|
|CorMatrix Cardiovascular Inc||32||Unlock Company Profile|
|Orthorebirth Co Ltd||30||Unlock Company Profile|
|Aveni Inc||29||Unlock Company Profile|
|Royal DSM NV||29||Unlock Company Profile|
|Zimmer Biomet Holdings Inc||28||Unlock Company Profile|
|InspireMD, Inc.||26||Unlock Company Profile|
|PolyPid Ltd||25||Unlock Company Profile|
|Reflow Medical, Inc.||24||Unlock Company Profile|
|OrbusNeich Medical, Inc.||23||Unlock Company Profile|
|Japan Stent Technology Co., Ltd.||23||Unlock Company Profile|
|Midcap Finco Designated Activity Company,||23||Unlock Company Profile|
|Children's Medical Center||23||Unlock Company Profile|
|General Hospital Corp||22||Unlock Company Profile|
|Q3 Medical Devices Limited||21||Unlock Company Profile|
|Straumann Holding AG||21||Unlock Company Profile|
|Heraeus Holding GmbH||21||Unlock Company Profile|
|Itochu Corp||21||Unlock Company Profile|
|Sino Medical Sciences Technology Inc||20||Unlock Company Profile|
|Elixir Medical Corp||20||Unlock Company Profile|
|B. Braun Melsungen AG||20||Unlock Company Profile|
|Massachusetts General Hospital||19||Unlock Company Profile|
|The Cigna Group||19||Unlock Company Profile|
|PolyNovo Ltd||19||Unlock Company Profile|
Source: GlobalData Patent Analytics
In terms of application diversity, PolyNovo leads the pack, followed by Orthorebirth and Aveni. By geographic reach, Sernova holds the top position, followed by Stryker and InspireMD in second and third spots, respectively.
Bioabsorbable implants are gaining popularity due to their crucial role in tissue rebuilding following the intended function in the body. Based on the function that the material performs in the body, they decay at a pace that is acceptable and necessary to the body. Future development should focus on improving the biomechanical properties of bioabsorbable implants.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.