The global medical industry experienced an 8% decline in patent filings in Q2 2024 compared with the previous quarter. The total number of grants rose by 14%, resulting in overall patent publications decreasing by 8.9%, according to GlobalData’s Patent Analytics. GlobalData’s databook Medical Devices: Patents Trends Q2 2024 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 patent applications in the medical industry was 33,131 in Q2 2024, versus 36,383 in the prior quarter. Filings were down 17% year-on-year and decrease 8% quarter-on-quarter. This compares to a 17% year-on-year decrease in patent grants and 8% decline in quarter-on-quarter.
Most patenting activity has been in the General Surgery Devices sector, where the number of patents filed Q1 2024 was 4298, a drop of 13% versus the previous quarter. The second-largest patent count was in Digital Health (3922, up 10%) and then Diagnostic Imaging in third (3052, down 16%).
The top five companies accounted for 9% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Johnson & Johnson with 668, followed by Medtronic with 621 and Becton Dickinson and Co with 616.
Patenting activity was driven by China with a 31% share of total patent filings
The largest share of patent filings in the medical industry in Q2 2024 was in China with 31%, followed by the US (24%) and Japan (7%). The share represented by China was 0.29% lower than the 31% share it accounted for in Q1 2024.
For further understanding of GlobalData's Medical Devices: Patents Trends Q2 2024, buy the databook here.
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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.
