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, as well as a 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 Internet of Things in medical: neurostimulation devices. 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, programmable infusion devices, wearable sleep assistance devices, and context-aware patient monitoring are disruptive technologies that are in the early stages of application and should be tracked closely. Remote dialysis monitoring, NFC implants, and medical ERS are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas is body area network (BAN), which is now well established in the industry.
Innovation S-curve for Internet of Things in the medical devices industry
Neurostimulation devices is a key innovation area in Internet of Things
Neurostimulation therapy, also called as spinal cord stimulation therapy, provides pain relief by blocking the pain signals between the spinal cord and the brain. The therapy involves the placement of a fully implantable, reversible system, and once implanted, patients can control their level of stimulation with a handheld device.
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 320+ companies, spanning technology vendors, established medical devices companies, and up-and-coming start-ups engaged in the development and application of neurostimulation devices.
Key players in neurostimulation devices – 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 neurostimulation therapy
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|Koninklijke Philips NV||467||Unlock Company Profile|
|Magic Leap Inc||161||Unlock Company Profile|
|Omron Corp||147||Unlock Company Profile|
|Bose Corp||103||Unlock Company Profile|
|Panasonic Holdings Corp||82||Unlock Company Profile|
|ResMed Inc||78||Unlock Company Profile|
|Samsung Group||76||Unlock Company Profile|
|Forschungszentrum Julich GmbH||55||Unlock Company Profile|
|Beijing Electronics Holding Co Ltd||43||Unlock Company Profile|
|Sony Group Corp||37||Unlock Company Profile|
|Eight Sleep Inc||37||Unlock Company Profile|
|Bryte Labs||36||Unlock Company Profile|
|Omron Tateisi Electronics Co||35||Unlock Company Profile|
|General Motors Co||31||Unlock Company Profile|
|Cognito Therapeutics Inc||31||Unlock Company Profile|
|Advanced Brain Monitoring Inc||28||Unlock Company Profile|
|Huawei Investment & Holding Co Ltd||28||Unlock Company Profile|
|Neuroenhancement Lab LLC||28||Unlock Company Profile|
|Toyota Motor Corp||27||Unlock Company Profile|
|Yamaha Corp||26||Unlock Company Profile|
|Daikin Industries Ltd||26||Unlock Company Profile|
|LG Corp||25||Unlock Company Profile|
|Fresenius Medical Care AG & Co KGaA||24||Unlock Company Profile|
|Xiant Technologies Inc||22||Unlock Company Profile|
|Nokia Corp||22||Unlock Company Profile|
|Hyundai Motor Co||21||Unlock Company Profile|
|Sleep Number Corp||20||Unlock Company Profile|
|Akili Inc||20||Unlock Company Profile|
|Aliphcom||20||Unlock Company Profile|
|InteraXon Inc.||20||Unlock Company Profile|
|Bodyfriend Co.,Ltd.||19||Unlock Company Profile|
|MR Innovation Co., Ltd.||18||Unlock Company Profile|
|Kia Corp||18||Unlock Company Profile|
|Apollo Neuroscience Inc||18||Unlock Company Profile|
|Dymedix Corporation||18||Unlock Company Profile|
|International Business Machines Corp||17||Unlock Company Profile|
|Sana Health Inc||17||Unlock Company Profile|
|TS Tech Co Ltd||16||Unlock Company Profile|
|Intellectual Ventures Management LLC||16||Unlock Company Profile|
|S-Alpha Therapeutics Inc||16||Unlock Company Profile|
|Happiest Baby Inc||15||Unlock Company Profile|
|Intel Corp||14||Unlock Company Profile|
|Soniphi LLC||14||Unlock Company Profile|
|Withings SA||14||Unlock Company Profile|
|Razer Inc||14||Unlock Company Profile|
|Dreem||13||Unlock Company Profile|
|Sleepme Inc||13||Unlock Company Profile|
|Marico Ltd||13||Unlock Company Profile|
|Smileyscope Pty Ltd||13||Unlock Company Profile|
|Fisher & Paykel Healthcare Corporation Ltd||13||Unlock Company Profile|
Source: GlobalData Patent Analytics
In terms of application diversity, Magic Leap leads the pack, followed by S-Alpha Therapeutics and Aliphcom. By geographic reach, Omron holds the top position, followed by Magic Leap and Xiant Technologies.
Owing to the continuous innovation of new products/technology, enhancement of existing products, growing ageing population, limited side effects, and the increasing incidence of neurological disorders, the neurostimulators market is expected to grow at a decent rate in the coming future. However, the availability of non-invasive devices that carry out similar functions but have lower risks associated with treatment may act as a threat to this market.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.