A medical device company’s success depends, in large part, on the strength and value of its patent portfolio. And as companies are becoming acutely aware of this fact, the issue rate for new medical device patents is exploding.
According to the most recent U.S. Patent and Trademark Office (USPTO) Patent Technology Monitoring Team Report, 16,537 U.S. patents for medical devices were issued in 2012, shattering the previous record of 13,699 medical device patents in 2011. In fact, the number of medical device patents issued by the USPTO has increased each year since 2009, and more than 50,000 U.S. patents for medical devices were issued between 2009 and 2012. In 2012, the five-year running average annual growth rate for issued medical device patents was 21%, a 6% increase from 2011. This is more than double the five-year running average growth rate for utility patents across all industries, which stood at 9% in 2012, up 4% from 2011. Medical devices exhibited the strongest patent growth rate among 12 key technology areas, according to Thomson Reuters.
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