The global healthcare industry experienced a 15% decline in patent filings in Q3 2024 compared with the previous quarter. The total number of grants dropped by 9%, resulting in overall patent publications decreasing by 16.0%, according to GlobalData’s Patent Analytics. GlobalData’s databook Healthcare: Patents Trends Q3 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.
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Notably, the number of patent applications in the healthcare industry was 10,990 in Q3 2024, versus 13,080 in the prior quarter. Filings were down 14% year-on-year and decrease 15% quarter-on-quarter. This compares to a 14% year-on-year decrease in patent grants and 15% decline in quarter-on-quarter.
The top five companies accounted for 5% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Koninklijke Philips with 170, followed by Johnson & Johnson with 110 and Abbott Laboratories with 84.
Patenting activity was driven by China with a 33% share of total patent filings
The largest share of patent filings in the healthcare industry in Q3 2024 was in China with 33%, followed by the US (21%) and Japan (6%). The share represented by China was 7% lower than the 40% share it accounted for in Q2 2024.
For further understanding of GlobalData's Healthcare: Patents Trends Q3 2024, buy the databook here.
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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.
