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, 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: Interactive nutrition monitoring and management.
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
Interactive nutrition monitoring and management is a key innovation area in the medical devices industry
Interactive nutrition monitoring and management systems assess an individual’s nutritional status to devise and monitor a specialized therapy plan that establishes the person’s nutritional targets. It includes applications that monitor, measure and evaluate any alterations in the nutrition care indicators used as evidence by practitioners to track the impact of nutrition intervention on a patient’s health condition.
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 interactive nutrition monitoring and management.
Key players in interactive nutrition monitoring and management – 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 interactive nutrition monitoring and management
Source: GlobalData Patent Analytics
NIKE is one of the leading patent filers in the field of interactive nutrition monitoring and management. Some other key patent filers in the field include Smith & Nephew and Aliphcom.
In terms of application diversity, MAD Apparel leads the pack, followed by Stryker and Smith & Nephew. By means of geographic reach, Stryker holds the top position, followed by Johnson & Johnson and Smith & Nephew in the second and third spots, respectively.
With individuals becoming more health and diet conscious, the demand for interactive nutrition monitoring and management is increasing. These tools will help in developing a better understanding of various diseases, combat risk factors and improve an individual’s quality of life by providing personalized plans.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.