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 digitalization. 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: Genetic variance analysis.
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
Genetic variance analysis is a key innovation area in the medical devices industry
Genetic variance analysis refers to the identification of variants related to a particular trait or population, with the idea of understanding specific biological mechanisms, evolutionary pasts, or ecology. It also enables the establishment of relationships among an array of traits and can be used as a powerful tool to enhance genetic-level investigations, population-based studies, and comprehend complex polygenic disorders.
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 genetic variance analysis.
Key players in genetic variance analysis – 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 genetic variance analysis
|Company||Total patents (2010 - 2021)||Premium intelligence on the world's largest companies|
|Waters||169||Unlock company profile|
|BostonGene||87||Unlock company profile|
|NantWorks||79||Unlock company profile|
|Koninklijke Philips||40||Unlock company profile|
|Nant Holdings Ip||36||Unlock company profile|
|Regeneron Pharmaceuticals||33||Unlock company profile|
|Illumina||30||Unlock company profile|
|Biodesix||23||Unlock company profile|
|Sony Group||21||Unlock company profile|
|F. Hoffmann-La Roche||19||Unlock company profile|
|23andMe Holding||19||Unlock company profile|
|International Business Machines||17||Unlock company profile|
|Globeimmune||16||Unlock company profile|
|Ancestry.com||15||Unlock company profile|
|DNAnudge||14||Unlock company profile|
|Mayo Clinic||14||Unlock company profile|
|Hitachi||14||Unlock company profile|
|Tempus Labs||13||Unlock company profile|
|Psomagen||12||Unlock company profile|
|Neumora Therapeutics||11||Unlock company profile|
|Guardant Health||11||Unlock company profile|
|Gritstone Bio||11||Unlock company profile|
|LipoScience (formerly LipoMed)||11||Unlock company profile|
|Oracle||11||Unlock company profile|
|Immucor||11||Unlock company profile|
|Sysmex||10||Unlock company profile|
|Endocanna Health||10||Unlock company profile|
|Johnson & Johnson||10||Unlock company profile|
|InVitae||10||Unlock company profile|
|Ampel BioSolutions||8||Unlock company profile|
|Signature Genomic Laboratories||8||Unlock company profile|
|Inform Genomics||8||Unlock company profile|
|Visby Medical||7||Unlock company profile|
|Iovance Biotherapeutics||7||Unlock company profile|
|ProdermIQ||7||Unlock company profile|
|Children's Hospital & Medical Center||7||Unlock company profile|
|CHILDRENS HOSPITAL MEDICAL CENTER OF AKRON||7||Unlock company profile|
|Nour Heart Therapeutics||6||Unlock company profile|
|Access||6||Unlock company profile|
|Ministry of Trade and Industry, Singapore||6||Unlock company profile|
|Macrogen||6||Unlock company profile|
|Samsung Group||6||Unlock company profile|
|Forensic Science Service||6||Unlock company profile|
|Guangzhou Burning Rock Dx||5||Unlock company profile|
|Medial Research||5||Unlock company profile|
|Ri.MED Foundation||5||Unlock company profile|
|Ancestry.com Holdings||5||Unlock company profile|
|Color Health||5||Unlock company profile|
|Fujifilm Holdings||5||Unlock company profile|
|Abbott Laboratories||5||Unlock company profile|
Source: GlobalData Patent Analytics
Waters is one of the leading patent filers in the field of genetic variance analysis. Some other key patent filers in the field include BostonGene and NantWorks.
In terms of application diversity, Waters leads the pack, followed by Johnson & Johnson and Macrogen. By means of geographic reach, Globeimmune holds the top position, followed by LipoScience (formerly LipoMed) and Visby Medical in the second and third spots, respectively.
Genetic variance analysis offers a means of effectively understanding complicated genetic traits, including drug response and multifactorial diseases. Further, it may substantially serve in unravelling the genetic makeup of rare or complex diseases. Future clinical and biomedical research is likely to be impacted by the advances in new and high throughput genotyping techniques.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.