Healthcare Patent Filing Outsourcing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Mar 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Healthcare Patent Filing Outsourcing market size is expected to be worth around US$ 2.8 billion by 2030, according to a new report by Vision Research Reports.

The global Healthcare Patent Filing Outsourcing market size was valued at US$ 1.1 billion in 2020 and is anticipated to grow at a CAGR of 5.9% during forecast period 2021 to 2030.

Growth Factors

In-house departments of pharmaceutical and medical devices firms typically do not have sufficient time to carry out patent filing processes. Even if they do, it will be a costly option for the firms. Therefore, the market is significantly driven by the growing need for cost-saving and time-saving in patent filing processes.

The market suffered a hefty decline of 2.1% in 2020 owing to the COVID-19 pandemic. Organizations such as the European Patent Office (EPO) and the United State Patent and Trademark Office (USPTO) announced relaxations such as extension of deadlines in order to accommodate 2019 novel coronavirus related delays and interruptions. However, with the lifting of COVID-19 related shelter-in-place mandates and commercialization of the vaccine, the bottle necking of patent filing is clearing. The market is projected to recover from 2021 onwards and expand with a lucrative CAGR over the forecast period.

Growing innovations in the medical device and pharmaceutical space is driving the market. Surging number of start-ups in the healthcare industry with new and innovative products, will also boost market growth. Patent applications are majorly filed by the well-established players in the healthcare industry such as Novartis, Covidien, Boston Scientific, Medtronic, Ethicon, Olympus Corp. These companies innovate in-house, partner with high-tech companies for consumer-facing offerings, and also license technologies from universities. Such companies hold huge potential market growth across the globe.

Report Highlights

The medtech segment dominated the market and accounted for the largest revenue share of 51.2% in 2020. This is attributed to growing technological advancements in the medical devices industry. For instance, in 2016, Medtronic, Olympus, and Boston Scientific filed 182, 150, and 225 patents respectively. On November 6, 2020, Medtronic filed a patent for a valve delivery device that got published on February 25, 2021. Similarly, on April 17, 2020, Boston Scientific received a patent for Opticross 35 15 MHz Peripheral Imaging Catheter. Such innovations by medical device players offer huge opportunities for healthcare patent filing outsourcing.

The medtech segment is further sub-segmented into assistive care devices, consumables and disposables, diagnosis and imaging devices, drug delivery devices, surgical devices, and wearable medical devices. The wearable medical devices segment is expected to expand with the fastest CAGR over the forecast period owing to the mounting demand for such devices in telehealth services and improving health consciousness among people. The amalgamation of healthcare data and IT is the latest fad of the industry and numerous established and emerging players are trying to gain the position of first movers.

The filing and prosecution segment dominated the healthcare patent filing outsourcing market and accounted for the largest revenue share of 51.5% in 2020. This share is attributable to the complexity associated with filing and prosecution coupled with cost-efficient attained by outsourcing such tasks. In-house filing and prosecution will also waste a lot of time of internal resources. Therefore, time-saving offered by healthcare outsourcing firms in filing and prosecution will also boost the growth of the segment over the forecast period.

The pre-filing segment accounted for the second-highest share by service in 2020. Pre-filing is a crucial step in patent filing as a lot of time and money of applicants could be wasted if the step is not done by professionals with strong knowledge of the patent processes. This will in turn augment the demand for pre-filing services thus boosting the growth over the forecast period.

The resident segment dominated the market and accounted for the largest revenue share of 63.5% in 2020. Approximately, 70.0% of the overall patents registered on the WIPO repository are resident patents. However, the non-resident segment is projected to expand with a faster CAGR as filing patents in one country does not ensure protection from plagiarism in another country.

Also, the aid of local patent outsourcing firm with the know-how of local regulations is beneficial for applicants to get a patent in another country. Such factors will augment the growth of the non-resident segment over the forecast period.

Asia Pacific dominated the market and accounted for the largest revenue share of 65.5% in 2020. The region is expected to maintain its vanguard over the forecast period. The high share is attributable to the colossal number of patents filed coupled with the availability of low-cost outsourcing services in the region. A significant number of patents filed in the Asia Pacific region are from China. According to the world intellectual property organization WIPO, in 2019, China filed 1,327,847 patents while Japan and India filed 452,130 and 34,015 patents respectively.

Medical devices and pharmaceutical companies in North America and Europe outsource their patent filing processes to countries in the Asia Pacific owing to low-cost labor. This will, in turn, augment the regional growth of the market over the forecast period.

Key Players

  • Clarivate

  • ipMetrix Consulting Group

  • CRJ IPR Services LLP

  • Patent Outsourcing Limited

  • Synoptic Intellectual Patents (P) Limited

  • Dennemeyer

  • Powell Gilbert

  • Bristows

  • Hoyng Rokh Monegier

  • Carpmaels & Ransford Services Limited

Market Segmentation

  • Domain Outlook

    • Medtech

      • Assistive Care devices

      • Consumables and Disposables

      • Diagnosis and Imaging Devices

      • Drug Delivery Devices

      • Surgical Devices

      • Wearable Medical Devices

    • Pharmaceutical 

  • Service Outlook 

    • Pre-filing

    • Filing & Prosecution

    • Post Grant

  • Origin Outlook 

    • Resident

    • Non-resident

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • France

      • U.K.

      • Spain

      • Italy

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Healthcare Patent Filing Outsourcing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Healthcare Patent Filing Outsourcing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Healthcare Patent Filing Outsourcing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare Patent Filing Outsourcing market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Healthcare Patent Filing Outsourcing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Healthcare Patent Filing Outsourcing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Healthcare Patent Filing Outsourcing by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Healthcare Patent Filing Outsourcing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Healthcare Patent Filing Outsourcing market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Healthcare Patent Filing Outsourcing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Healthcare Patent Filing Outsourcing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Healthcare Patent Filing Outsourcing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Healthcare Patent Filing Outsourcing market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Healthcare Patent Filing Outsourcing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Healthcare Patent Filing Outsourcing market. These factors have benefited the growth of the global market for Healthcare Patent Filing Outsourcing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Healthcare Patent Filing Outsourcing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Healthcare Patent Filing Outsourcing are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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