The global medical industry experienced a 36% decline in the number of future of work-related patent applications in Q4 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 12% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q4 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.

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Notably, the number of future of work-related patent applications in the medical industry was 946 in Q4 2023, versus 1,484 in the prior quarter.

The top five companies accounted for 14% of patenting activity

Analysis of patenting activity by companies shows that Becton Dickinson and Co filed the most future of work patents within the medical industry in Q4 2023. The company filed 35 future of work-related patents in the quarter, compared with 52 in the previous quarter. It was followed by Johnson & Johnson with 31 future of work patent filings, Medtronic (27 filings), and Koninklijke Philips (24 filings) in Q4 2023.

Patenting activity was driven by the US with a 35% share of total patent filings

The largest share of future of work related patent filings in the medical industry in Q4 2023 was in the US with 35%, followed by China (19%) and Japan (10%). The share represented by the US was 10% higher than the 26% share it accounted for in Q3 2023.

For further understanding of GlobalData's Medical Devices: Patents Trends Q4 2023, buy the databook here.

This content was updated on 23 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.