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 of 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 prostheses manufacturing. 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 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 prostheses manufacturing is a key innovation area in the medical devices industry
Cardiovascular prostheses help in replacing damaged heart tissues and are used to mimic the function of normal cardiovascular organs. Heart valves and pacemakers are some examples of cardiovascular prostheses. These devices have the potential to improve survival and significantly improve the quality of life for most patients with heart abnormalities.
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 30+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of cardiovascular prostheses manufacturing.
Key players in cardiovascular prostheses manufacturing – 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 prostheses manufacturing
Source: GlobalData Patent Analytics
AbbVie is one of the leading patent filers in Cardiovascular Prostheses manufacturing. Some other key patent filers in the field include Johnson & Johnson and Zimmer Biomet.
In terms of application diversity, OrbusNeich Medical leads the pack, followed by Orbus Neich and Avantor. By means of geographic reach, Ossio held the top position, followed by Meril Life sciences and Spinal Sterilization Technologies in second and third spots, respectively.
The usage of polymer material for cardiac prostheses in recent years has reduced problems associated with biological and mechanical valves, making them the preferred choice. The usage of cardiac prostheses will also increase owing to the increasing burden of cardiovascular diseases and the ageing population.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. 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.
Smarter leaders trust GlobalData
Premium Insights Innovation in Medical Devices: Cardiovascular Prostheses Manufacturing
Premium Insights
The gold standard of business intelligence.
