The healthcare industry continues to be a hotbed of innovation, with activity driven by telemedicine, real-time diagnostics, smart hospitals and access to digital therapies, and the growing importance of technologies such as artificial intelligence (AI), the internet of things (IoT), augmented reality (AR), robotics and data management practices. In the last three years alone, there have been over 106,000 patents filed and granted in the healthcare industry, according to GlobalData’s report on Cloud in Healthcare: Point-of-care molecular diagnostics. Buy the report here.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
200+ innovations will shape the healthcare industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the healthcare industry using innovation intensity models built on over 443,000 patents, there are 200+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, software as a medical device (SaMD), augmented reality/ virtual reality (AR/VR) medical imaging interfaces, and automated clinical documentation are disruptive technologies that are in the early stages of application and should be tracked closely. Medical image display devices, 3D modelling and rendering, and AI-assisted electronic health record (EHR) are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are wearable fitness monitors and medical device secure data transmission, which are now well established in the industry.
Innovation S-curve for cloud in the healthcare industry
Point-of-care molecular diagnostics is a key innovation area in cloud
POC molecular diagnostics produce rapid and reliable results by combining a speedy diagnosis and treatment decisions during the patient’s first visit, rather than hours or days to have the test results. POC molecular diagnostics replace conventional diagnostics methods as they allow early disease detection. There are numerous technologies being developed for DNA detection and amplification, the majority of which focus on pathogen detection.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 60+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of point-of-care molecular diagnostics.
Key players in point-of-care molecular diagnostics – a disruptive innovation in the healthcare industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to point-of-care molecular diagnostics
Source: GlobalData Patent Analytics
In terms of application diversity, Abbott Laboratories leads the pack, followed by DexCom and InVitae, respectively. By means of geographic reach, OPKO Health held the top position. SomaLogic and Arctic Partners occupied second and third spots, respectively.
In the near future, point-of-care (POC) molecular testing will continue to be useful for both diagnosis and ART monitoring. This technology has been under vigorous development and in greater need due to the increasing number of Infectious diseases, genetic disorders, and solid tumours. It will also help doctors to raise the standard of care.
To further understand how Cloud is disrupting the healthcare industry, access GlobalData’s latest thematic research report on Cloud Computing in Healthcare.