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, and growing importance of 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: fall detection monitoring. 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, ultrasonic nebulizers and intra-oral 3D imaging are disruptive technologies that are in the early stages of application and should be tracked closely. Intraocular pressure monitoring, automated diabetes management, and tissue repair implants are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas is CPR assistance devices, which is now well established in the industry.
Innovation S-curve for the medical devices industry
Fall detection monitoring is a key innovation area in medical devices
Fall detection monitoring refers to a system or device that monitors a person's physical activity and automatically detects falls. The system uses sensors to measure and quantify the subject's physical activity and gait, and computes the subject's risk of falling. It performs the necessary computations, which can also be done in real time, and denoises the measurements using unique time-frequency filters.
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 60+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of fall detection monitoring.
Key players in fall detection monitoring – 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 fall detection monitoring
Source: GlobalData Patent Analytics
In terms of application diversity, Hip Hope Technologies leads the pack, while Bose and Orthocare Innovations stood in the second and third positions, respectively. By means of geographic reach, Sotera Wireless held the top position, followed by Alphabet and CurAegis Technologies.
Advancements in sensor technology and artificial intelligence are set to refine accuracy and response times of these devices. Against this backdrop, the future of fall detection monitoring in the medical devices industry appears promising. These innovations will significantly enhance elderly care, reducing response times during emergencies and ensuring proactive assistance, thereby mitigating fall-related injuries and enhancing overall safety.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.