The global consumer industry experienced a 33% decline in the number of health & wellness-related patent applications in Q2 2023 compared with the previous quarter. The total number of health & wellness-related grants dropped by 38% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Health and Wellness TrendSights Analysis 2022 report provides an understanding of where the mega-trend is heading and how long it will last. It discusses the market overview, key factors, key sectors in health and wellness and the latest innovation in the mega-trend. Buy the report here.
Notably, the number of health & wellness-related patent applications in the consumer industry was 1,694 in Q2 2023, versus 2,543 in the prior quarter.
The top five companies accounted for 7% of patenting activity
Analysis of patenting activity by companies shows that Nestle filed the most health & wellness patents within the consumer industry in Q2 2023. The company filed 46 health & wellness-related patents in the quarter, compared with 81 in the previous quarter. It was followed by Kangnam University with 25 health & wellness patent filings, DSM-Firmenich (19 filings), and Givaudan (12 filings) in Q2 2023.
Patenting activity was driven by China with a 42% share of total patent filings
The largest share of health & wellness related patent filings in the consumer industry in Q2 2023 was in China with 42%, followed by the US (19%) and Japan (7%). The share represented by China was 7% higher than the 35% share it accounted for in Q1 2023.
For further understanding of GlobalData's Health and Wellness TrendSights Analysis 2022 buy the report here.