Med Tech & Med Device IP Strategy: Key Challenges and Growth Opportunities
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The medical technology and medical device sectors are in a state of rapid innovation, thanks to breakthroughs like AI-powered diagnostics and 3D-printed implants. Med device is expected to dominate, with a projected market volume of US$539.8 billion by end of 2025 (source: Statista).
However, these advancements bring unique challenges for Intellectual Property (IP) and R&D teams. Let’s explore some of these hurdles and how to overcome them.
5 Key Challenges in MedTech IP:
- Software & AI-Driven Devices (SaMD): Patenting algorithms and AI models is complex, requiring adherence to rigorous legal standards like the USPTO’s Alice test.
- Complex Systems: Multi-component devices, such as surgical robots, demand exhaustive prior art searches and cross-domain expertise for effective IP protection.
- Fragmented Patent Landscapes: Non-standardized patent classes complicate searches and navigating such landscapes demand significant time and resources.
- Licensing & Patent Ownership Transparency: M&A activities can obscure ownership and licensing terms, posing risks for IP teams. According to Patsnap Analytics, a total of 1,280, 926 med tech/med device patents were filed in the last 4 years.
- Design Patent Blind Spots: Often overlooked, design patents are crucial for protecting visual configurations and ensuring product differentiation.
3 Strategies for Success:
- Cross-Disciplinary Collaboration: Align IP and R&D efforts to expedite innovation while securing robust IP protection.
- Leveraging Analytics Tools: Use tools like Patsnap’s Analytics Suite to gain insights into patent landscapes and enhance strategic planning.
- Embracing Design Patents: Utilize design patents to safeguard device aesthetics, a key differentiator in user experience and safety.
Diagram B shows how the number of patents filed for different medical technologies have changed over time due to changes in demands and needs of the market
Diagram C shows the different technology domains for different patent owners
Diagram D shows how Locarno Classification (LOC) is used on Patsnap Analytics to identify relevant design patents
SaMD Success: Companies like HeartFlow and Viz.ai have successfully navigated SaMD patenting complexities, bullet-proofing R&D efforts and commercialization of innovation in AI-driven diagnostics.
Looking Ahead:
To stay competitive in the evolving medical tech landscape, teams must leverage cutting-edge analytics tools, foster cross-disciplinary collaboration, and embrace comprehensive IP strategies.
Don’t fall behind. Book your demo now and stay ahead in medical tech with Patsnap Analytics.
