The medtech industry, which comprises medical devices, in vitro diagnostics and digital health wearables, is continuing to grow. In 2022, the European medtech market was estimated to be roughly €160bn - but as this piece from leading tech publication Silicon Republic explains, there is a risk that Europe's regulatory framework could be holding the region back. Fabulous to see comments from partner and medtech expert Tim Hargreaves about AI and innovation included alongside details of our 2023 AI Report, below.
Details of the report including key medtech findings can also be accessed here.
And in September of this year, a report from intellectual property firm Marks & Clerk found that while AI is changing the future of virtually every industry, it is the medtech sector in particular that is capitalising on the emerging tech. The report found that the number of AI-based patent applications filed by the sector in 2022 had almost quadrupled since 2018.
Tim Hargreaves, partner and medtech specialist at Marks & Clerk, said the medtech sector’s dominance in AI-based patent applications reflects its place at the forefront of innovation. “As the sector continues to drive forward the development of new technologies aimed at enhancing healthcare, it’s heartening to see the industry taking proper steps to secure its innovations.”