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: Smart balloon catheters. 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, 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 GPS integrated fitness monitors, which are now well established in the industry.
Innovation S-curve for Internet of Things in the healthcare industry
Smart balloon catheters is a key innovation area in Internet of Things
During a catheterisation procedure, a normal balloon catheter is used to enlarge a restricted orifice or passage using a spongy catheter with an inflatable balloon at its tip. Smart balloon catheters are equipped with mechanical vibration and strain gauges, electrical conductance sensors, and thermocouples for percutaneous diagnostic or therapeutic treatments, including dilated vasculature, opening clogs, and administering stents.
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 40+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of smart balloon catheters.
Key players in smart balloon catheters – 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 smart balloon catheters
Source: GlobalData Patent Analytics
Abbott Laboratoriesis one of the leading patent filers in the field of Smart Balloon catheters. Some other key patent filers in the field include Koninlijke Philips, Becton Dickinson, Johnson & Johnson, and Bracco.
In terms of application diversity, Ptt leads the pack, followed by Voyant Diagnostics and Observe Medical, respectively. By means of geographic reach, Orion Biotech held the top position, with SpineLOOP and Becton Dickinson in second and third spots, respectively.
Smart balloon catheters have a promising future in various minimally invasive diagnostic and therapeutic procedures. The advancement in the stretchable electronic material using micro and nanotechnology increases the scope for innovations in the industry. The technology not only provides biologically similar stretchable elastomers but also results in high fidelity digital information with highly sensitive and accurate data. The technology provides operational effectiveness, cost savings and patient satisfaction to the healthcare sector.
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.