The global healthcare industry experienced a 17% decline in the number of virtual care-related patent applications in Q4 2023 compared with the previous quarter. The total number of virtual care-related grants dropped by 9% in Q4 2023, 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 virtual care-related patent applications in the healthcare industry was 1,319 in Q4 2023, versus 1,583 in the prior quarter.
The top five companies accounted for 9% of patenting activity
Analysis of patenting activity by companies shows that Medtronic filed the most virtual care patents within the healthcare industry in Q4 2023. The company filed 35 virtual care-related patents in the quarter, compared with 23 in the previous quarter. It was followed by DexCom with 31 virtual care patent filings, Abbott Laboratories (21 filings), and Koninklijke Philips (16 filings) in Q4 2023.
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Patenting activity was driven by the US with a 32% share of total patent filings
The largest share of virtual care related patent filings in the healthcare industry in Q4 2023 was in the US with 32%, followed by China (24%) and Japan (8%). The share represented by the US was 0.94% higher than the 31% 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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