The pharmaceutical world is littered with innovation landmines. With longer product cycles, several layers of regulatory approval and various global hurdles to overcome, patent volumes in the pharmaceutical industry are often dwarfed by those of fast-moving industries.
And even when drug patents are issued, a vast array face litigation, as rivals look to gain a competitive advantage over one another. But that doesn’t mean life sciences companies aren’t making some serious strides toward changing the future of this space.
In the latest edition of Thomson Reuters’ annual State of Innovation, The Future is Open: State of Innovation Report 2016, researchers within the IP and Science business analysed global intellectual property data, including scientific literature and patents, as a window into innovation across 12 bellwether technology areas: aerospace; automotive; nanotechnology; computing and peripherals; cosmetics; domestic appliances; food, tobacco and beverage fermentation; medical devices; petroleum; pharmaceuticals; semiconductors and telecommunications.
For each industry, analysts scrutinised 5 years of global patent and scientific literature publications, outlining the top companies, research institutions and technology areas producing the highest volume of new innovation.
According to the research, the pharmaceutical industry is thriving, fuelled by a specific sector. The category experienced 4% year-on-year growth, with the most significant increase coming in a burgeoning inorganics sector.
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