The global healthcare industry experienced a 26% decline in the number of virtual care-related patent applications in Q1 2024 compared with the previous quarter. The total number of virtual care-related grants dropped by 5% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Healthcare: Patents Trends Q1 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.
Notably, the number of virtual care-related patent applications in the healthcare industry was 1,088 in Q1 2024, versus 1,469 in the prior quarter.
The top five companies accounted for 12% of patenting activity
Analysis of patenting activity by companies shows that Abbott Laboratories filed the most virtual care patents within the healthcare industry in Q1 2024. The company filed 47 virtual care-related patents in the quarter, compared with 24 in the previous quarter. It was followed by DexCom with 33 virtual care patent filings, Medtronic (25 filings), and Koninklijke Philips (13 filings) in Q1 2024.
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Patenting activity was driven by the US with a 39% share of total patent filings
The largest share of virtual care related patent filings in the healthcare industry in Q1 2024 was in the US with 39%, followed by China (30%) and Japan (9%). The share represented by the US was 5% higher than the 33% share it accounted for in Q4 2023.
For further understanding of GlobalData's Healthcare: Patents Trends Q1 2024, buy the databook here.
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