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 Wearable Tech in Healthcare: Wearable drug delivery devices.
According to GlobalData’s Technology Foresights, which uses over 443,000 patents to analyse innovation intensity for the healthcare industry, there are 200+ innovation areas that will shape the future of the industry.
Wearable drug delivery devices is a key innovation area in wearable tech
Drug delivery devices are specialised medical devices used to administer a drug or therapeutic agent through a predetermined route. These devices are used as a component of one or more medical procedures that ensure quick drug absorption into the bloodstream and direct drug delivery to the central nervous system via the lungs and nose.
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 100+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of wearable drug delivery devices.
Key players in wearable drug delivery devices – 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 wearable drug delivery devices
Source: GlobalData Patent Analytics
Fresenius is one of the leading patent filers in the field of wearable drug delivery devices. Some other key patent filers in the field include DEKA Research and Development, and Sanofi.
In terms of application diversity, AYR leads the pack, followed by Teleflex Medical and Potrero Medical. By means of geographic reach, Platinum Equity holds the top position, followed by Teva Pharmaceutical Industries and Novartis in second and third spots, respectively.
By offering patient-friendly, long-acting, easy-to-use, and inexpensive drug delivery platforms, these wearables have paved a path for new possibilities in healthcare technologies. Multiple dosing, non-selective targeting, uncontrolled biodistribution of drugs, and off-target toxicity are some of the major drawbacks that the emerging concept of such wearable devices has helped to address. Drug delivery systems are one of the technological advances that have moved medication administration from traditional settings to more affordable alternatives like the patient's home, where life-altering molecules are now routinely self-administered subcutaneously to treat chronic diseases like rheumatoid arthritis, multiple sclerosis, and dyslipidemia, among others. To enhance the treatment options for these chronic diseases, healthcare companies have worked to develop highly concentrated monoclonal antibodies by lowering injection frequency and allowing home delivery, as well as attempting to lessen the burden on patients. Although this new paradigm has a lot of potential, it also creates new drug delivery problems that need creative solutions to effectively solve.
To further understand the key themes and technologies disrupting the healthcare industry, access GlobalData’s latest thematic research report on Healthcare.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
