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 Internet of Things in Healthcare: Non-invasive physiological monitoring.
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, smart helmets, body temperature sensors, and Software as a Medical Device (SaMD) are disruptive technologies that are in the early stages of application and should be tracked closely. Smart balloon catheters, point-of-care molecular diagnostics, and automated immunoassay analysers are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are Smart contact lenses and global positioning system (GPS) integrated fitness monitors, which are now well established in the industry.
Innovation S-curve for Internet of Things in the healthcare industry
Non-invasive physiological monitoring is a key innovation area in Internet of Things
Non-invasive physiological monitoring refers to monitoring a person’s blood pressure, stress and heart rate using a non-invasive device such as an external camera or a wrist band. These devices allow generating an alert to the concerned people remotely. These devices have replaced the need of repeated monitoring of various body parameters along with providing real time check on a person’s health.
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 200+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of non-invasive physiological monitoring.
Key players in non-invasive physiological monitoring – 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 non-invasive physiological monitoring
Source: GlobalData Patent Analytics
Koninklijke Philips is one of the leading patent filers in the field of non-invasive physiological monitoring. Some other key patent filers in the field include Heartflow and Siemens.
In terms of application diversity, Enlitic leads the pack, followed by Mallinckrodt and International Business Machines. By means of geographic reach, Becton Dickinson holds the top position, followed by Everist Genomics and Intuitive Surgical, in second and third spots, respectively.
Non-invasive physiological monitoring is an emerging diagnostic technology, which has the potential to replace manual monitoring of body parameters such as blood pressure and heart rate. Artificial intelligence and technologically advanced physiological monitoring devices would reduce the hospital visits of the patient along with reducing the burden healthcare staff.
To further understand how Internet of Things is disrupting the healthcare industry, access GlobalData’s latest thematic research report on Internet of Things (IoT) in Healthcare.