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: Endoscopic imaging.
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
Endoscopic imaging is a key innovation area in the medical devices industry
Endoscopy is a minimally invasive procedure that involves inserting a long, thin tube straight into the body through mouth or anus to examine an internal organ or tissue with precision. Endoscopy imaging includes endoscopes connected to a digital imaging device for clear screen visibility and video recording. Endoscopy imaging, in addition to biopsy, allows for the detection of abnormal growth of cells that helps in the early detection of cancers.
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 50+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of endoscopic imaging.
Key players in endoscopic imaging – 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 endoscopic imaging
Source: GlobalData Patent Analytics
Olympus is one of the leading patent filers in endoscopic imaging. Some other leading patent filers include Fujifilm Holdings and Johnson & Johnson.
In terms of application diversity, 3M leads the pack, followed by Dental Monitoring and Tencent Holdings. By means of geographic reach, Planmeca holds the top position, followed by Asensus Surgical and AI Medical Service in the second and third spots, respectively.
The future of endoscopy involves the integration of technologies, such as artificial intelligence and robotics. It will support healthcare professionals in decision-making in real time. The development of robotic endoscopy may become a solution for patients who cannot accept traditional endoscopy methods. However, the challenge would be maintaining a balance between new technologies and the quality of routine practice.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices
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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.
