Healthcare Patent Filing Outsourcing Market Size to Reach $1.61 Billion By 2028 | CAGR: 5.6% : Polaris Market Research

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Sep 13, 2021, 08:30 ET

NEW YORK, Sept. 13, 2021 /PRNewswire/ -- The global healthcare patent filing outsourcing market is estimated to reach USD 1.61 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 5.6% from 2021-2028. The growing requirement for a time-saving and cost-efficient patent filing process is anticipated to boost the market growth. The rapidly evolving healthcare sector is providing lucrative opportunities for startups and established organizations in terms of development and launching novel products. In Addition to this, the rise in major innovations in robust pharmaceutical products and medical devices pipelines will propel the growth of the healthcare patent filing outsourcing market.

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Key Highlights of Healthcare Patent Filing Outsourcing Market

Based on the domain, the Medtech segment accounted for the higher share in the healthcare patent filing outsourcing market and is expected to add share during the forecast period. Rapid technological advancements in the medical device sector are creating huge opportunities for healthcare patent filing outsourcing.
In terms of service, the filing and prosecution services segment contributed the largest revenue share and is projected to garner the fastest growth, on account of time-saving and cost-efficiency achieved with patent filing outsourcing.
By origin, the non-resident segment emerged as the fastest-growing segment as a national level patent in any particular country might not be able to prevent copying of a technology or product in a different country.
Harrow Health, Inc., a leading ophthalmic-focused healthcare company, announced that they successfully received the two Patents issued by the United States Patent and Trademark Office. A detailed study based on the compounded mydriatic drug combination covered under these two patents.

Regional Developments

The regional market in North America is anticipated to witness gain fastest growth owing to the increasing presence of leading outsourcing companies having wide experience in patent filing and stable financial resources of the giant medical device companies to outsource non-core activities to enable them to give more emphasis on its key activities of research, development, and innovation. On the other side, the regional healthcare patent filing outsourcing market in the Asia Pacific is predicted to hold a dominating position in terms of revenue generation, owing to the increasing availability of affordable healthcare patent filing outsourcing services in the region.

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Competitive Outlook

Companies are focusing more on research and development activities to bring innovations in their service offerings. The prominent players operating in the global healthcare patent filing outsourcing market involve Clarivate, Bristows, Hoyng Rokh Monegier, CRJ IPR Services LLP, Patent Outsourcing Limited, ipMetrix Consulting Group, Synoptic Intellectual Patents (P) Limited, Dennemeyer, Powell Gilbert, and Carpmaels & Ransford Services Limited.

Target Audience

Supply Side: Legal Service Provider, Property Law Firm
Demand Side: Medical Device Company, Healthcare Service Providers
Regulatory Side: Patent and Trademark Authority

Polaris Market Research has segmented the healthcare patent filing outsourcing market report on the basis of domain, service, origin, and region:

Healthcare Patent Filing Outsourcing Market, Domain Outlook (Revenue – USD Million, 2016 – 2028)

Medtech

Assistive Care devices
Consumables and Disposables
Diagnosis and Imaging Devices
Drug Delivery Devices
Surgical Devices
Wearable Medical Devices

Pharmaceutical

Healthcare Patent Filing Outsourcing Market, Service Outlook (Revenue – USD Million, 2016 – 2028)

Pre-filing
Filing & Prosecution
Post Grant

Healthcare Patent Filing Outsourcing Market, Origin Outlook (Revenue – USD Million, 2016 – 2028)

Resident
Non-resident

Healthcare Patent Filing Outsourcing Market, by Regional Outlook (Revenue – USD Million, 2016 – 2028)

North America

U.S.
Canada

Europe

France
Germany
UK
Italy
Spain
Netherlands
Austria

Asia Pacific

China
India
Japan
Malaysia
South Korea
Indonesia

Central & South America

Mexico
Brazil
Argentina

Middle East & Africa

UAE
Saudi Arabia
Israel
South Africa

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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