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: Therapy compliance monitoring systems.
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
Therapy compliance monitoring system is a key innovation area in the medical devices industry
Therapy compliance monitoring systems are used to check a patient’s medication adherence as per the advice of healthcare providers. The systems help in tracking the patient’s adherence to diet restrictions, drug regimens, and modifications in their lifestyle. Artificial intelligence (AI)-based compliance monitoring systems allow doctors to accurately monitor treatment compliance while saving time for both physicians and patients.
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 therapy compliance monitoring systems.
Key players in therapy compliance monitoring systems – 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 therapy compliance monitoring systems
Source: GlobalData Patent Analytics
DEKA Research and Development is one of the leading patent filers in therapy compliance monitoring systems. Some other leading patent filers include Panasonic, Teva Pharmaceutical Industries, Mallinckrodt, and Becton Dickinson.
In terms of application diversity, Apple leads the pack, followed by Teva Pharmaceutical Industries and DEKA Research and Development. By means of geographic reach, Mallinckrodt holds the top position, followed by Bayer and Fresenius in the second and third spots, respectively.
AI will be a key driver in developing therapy compliance monitoring systems in the future. They are increasingly used to measure the compliance of treatment pathways, not only from a clinical point of view but also in making an economic assessment of new treatments. The application of AI or deep learning techniques in the systems will not only lead to improved clinical outcomes but will also enable health chiefs to deploy better health resources, especially through the period of increased budgetary constraints.
To further understand the key themes and technologies disrupting the medical devices industry, access GlobalData’s latest thematic research report on Medical Devices.