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 Innovation in Medical Devices: Cardiovascular implant fixation devices.
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, neurostimulation therapy, smart physiotherapy devices, and real-time IR thermographic imaging are disruptive technologies that are in the early stages of application and should be tracked closely. Precision radiotherapy, electric atomisers, and bio-active prosthesis coating are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are bioresorbable stent coating and cryogenic tissue treatment, which are now well established in the industry.
Innovation S-curve for the medical devices industry
Cardiovascular implant fixation devices is a key innovation area in the medical devices industry
Cardiovascular implant fixation devices are designed to keep the implants in place to assist proper functioning. They guard against accidental removal and displacement of implants.
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 390+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of cardiovascular implant fixation devices.
Key players in cardiovascular implant fixation devices – 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 cardiovascular implant fixation devices
Source: GlobalData Patent Analytics
Edwards Lifesciences is one of the leading patent filers in the cardiovascular implant fixation devices field. Some other key patent filers in the field include Medtronic and Johnson & Johnson.
In terms of application diversity, Olympus leads the pack, followed by AbbVie and 4Tech. By means of geographic reach, Coloplast holds the top position, followed by Opus Medical Therapies and Medinol in the second and third spots, respectively.
Technology breakthroughs in implant attachment mechanisms have eliminated the need for removal surgery or long-term interference. Unlike other biomaterials, stainless steel has strong corrosion resistance in an oxygen-rich environment, making it one of the key materials utilised in the construction of internal fixation implants. The cost-effective nature of the material further aids its high acceptance. The development of custom devices that are both safe and compatible is expected to be the focus of future development in the area.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.