The global healthcare industry experienced a 4% decline in patent filings in Q4 2023 compared with the previous quarter. The total number of grants dropped by 7%, resulting in overall patent publications decreasing by 4.4%, according to GlobalData’s Patent Analytics. GlobalData’s databook Healthcare: 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.
Notably, the number of patent applications in the healthcare industry was 11,345 in Q4 2023, versus 11,868 in the prior quarter. Filings were down 5% year-on-year and decrease 4% quarter-on-quarter. This compares to a 5% year-on-year decrease in patent grants and 4% decline in quarter-on-quarter.
The top five companies accounted for 6% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Koninklijke Philips with 227, followed by Johnson & Johnson with 148 and Medtronic with 113.
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Patenting activity was driven by China with a 37% share of total patent filings
The largest share of patent filings in the healthcare industry in Q4 2023 was in China with 37%, followed by the US (23%) and Japan (7%). The share represented by China was 0.2% higher than the 37% share it accounted for in Q3 2023.
For further understanding of GlobalData's Healthcare: Patents Trends Q4 2023, buy the databook here.
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