MEDTECH SECTOR LEADING THE WAY IN AI PATENT APPLICATIONS
The medical technology (medtech) sector is making huge strides in the world of artificial intelligence (AI), according to new findings. Patent applications for AI-based technologies in the medtech sector have nearly quadrupled since 2018, reaching a total of 2771 publications in 2022. This growth outpaced the overall growth of AI applications between 2014 and 2021.
When breaking down the data, it becomes clear which areas within the medtech sector are driving this surge. AI-based medical imaging and diagnostics are leading the way with 3018 applications published in 2022. However, applications for AI-based drug discovery saw a decline of 30% from 2021 with just 12 filings last year.
There are several possible reasons for this decline. It could be due to the technology still maturing or inventors having concerns about patentability and technical effects. Another possibility is that inventors are taking a longer-term strategy, preferring to keep their discoveries confidential rather than applying for patents.
Tim Hargreaves, a partner and medtech specialist at intellectual property firm Marks & Clerk, states that this dominance in patent applications reflects the medtech sector’s position at the forefront of global innovation. The industry is taking steps to secure its innovations and navigate the complex field of intellectual property.
From a regional perspective, Europe and the US continue to dominate the AI patent filings at the European Patent Office (EPO). However, there has been a noticeable increase in filings from Asia, particularly China. This reflects the medtech industry’s embrace of AI and the investment in research and development that will ultimately lead to global influence.
When analyzing the technologies behind the patent applications, computer vision and predictive analytics emerge as the most prominent. These technologies make up nearly two-thirds of the applications in the medtech sector. This suggests a prioritization of prediction, prevention, and intervention over treatment in the medtech industry.
Looking ahead, the impact of AI regulations on patent filing trends remains uncertain. The drafted EU AI Act could pose challenges to AI development in the EU, potentially leading to a slowdown in patent filings. It will be interesting to see the effect of generative AI and the widespread use of Large Language Models (LLMs) on future patent data.
In conclusion, the medtech sector is leading the way in AI patent applications. The industry’s embrace of AI technologies has the potential to revolutionize healthcare and drive the world towards a future focused on data. What are your thoughts on this? Comment below and let us know!
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