In the dynamic landscape of the medical device industry, major players such as Medtronic, Johnson & Johnson, and Intuitive Surgical are driving innovation in robotics, as reflected in recent patents, strategic deals, and job postings. These advancements signify a paradigm shift in surgical precision and healthcare solutions, redefining the industry’s future. The impact of robotics extends beyond the medical device sector, influencing various industries. GlobalData’s robotics market report provides comprehensive analysis of the robotics market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the medical device industry regarding robotics. It provides an overview of recent developments in robotics-related deals, talent acquisition, and patent filings within the medical device industry.
Diverse applications of robotics in medical device industry
Medical companies like Medtronic Plc, Johnson & Johnson, and Intuitive Surgical Inc are leveraging the latest robotics patents to innovate and improve their businesses. These patents focus on minimally invasive intervertebral rod insertion, facilitating bending of instruments in surgical environments, and using position sensors in robotic surgery systems. By incorporating these technologies, these companies can enhance surgical precision, improve patient outcomes, and streamline surgical procedures. For example, the robotic insertion of intervertebral rods can reduce surgical trauma and recovery time for patients. Overall, these advancements in robotics technologies will enable medical companies to offer more efficient and effective healthcare solutions, ultimately benefiting both patients and healthcare providers.
The industry experienced a 50% decline in the number of robotics-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of robotics-related patent applications in the medical device industry witnessed a rise of 0.93% compared with Q4 2022.
Strategic deal trends in robotics in medical device industry
Medical Device companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in robotics. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of robotics in the medical device industry.
In Q4 2023, the number of robotics-related deals in the medical device industry declined by 38% compared with Q4 2022. On a quarterly basis, there was 17% drop in the number of deals in Q4 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q4 2023, the medical device industry experienced a 14% drop compared with the previous quarter. On an annual basis, job postings also declined by 55%. Notably, architecture and engineering occupations, with a share of 19%, emerged as the top robotics-related job roles within the medical device industry in Q4 2023, with new job postings drop by 23% quarter-on-quarter. Computer and mathematical occupations came in second with a share of 15% in Q4 2023, with new job postings dropping by 15% over the previous quarter. The other prominent robotics roles include installation, maintenance, and repair occupations with an 11% share in Q4 2023, and management occupations with a 10% share of new job postings.
Intuitive Surgical, Medtronic, Stryker, Danaher, and Becton Dickinson and Co are among the top companies leading in robotics hiring within the medical device industry.
Countries driving adoption of robotics in medical device industry
The US is the leading country in robotics adoption within the medical device industry, boasting the highest number of robotics-related patents, jobs, and deals. Meanwhile, China, the UK, South Korea and Australia also maintain significant positions in robotics adoption within the medical device industry.
In conclusion, the medical device industry witnesses a surge in robotics innovation driven by leading companies, as reflected in patents, strategic deals, and job opportunities, signaling a transformative era in healthcare delivery and surgical precision.
To further understand GlobalData's analysis on robotics in the medical device industry, buy the report here.