Leading in health technology innovation: Philips one of the top patent applicants at European Patent Office
Mar 19, 2024 | 2 minute read
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it is one of the leading patent applicants at the European Patent Office (EPO). Building on more than 130 years of innovation, Philips’ extensive global R&D programs and collaborations position the company at the forefront of health technology innovation. In 2023, Philips improved the health and well-being of 1.9 billion people with its innovations.
With 607 MedTech patent applications in 2023, Philips is the second largest applicant in EPO's Patent Index 2023 in the field of medical technology. In total, Philips contributed 1,299 patent applications across various domains, solidifying its standing among the top 10 patent filers overall.
Our portfolio of patient- and people-centric innovations in hardware, software, AI and services, supports care in the hospital and in the home, and we are the preferred strategic and innovation partner for many customers across the globe.
Roy Jakobs, CEO of Royal Philips, said "At Philips, our purpose is to improve people’s health and well-being through meaningful innovation. As such, we see huge opportunities to make a difference through innovation, design, and sustainability. We are partnering with our healthcare customers to increase productivity and deliver better care for more people, and we want to empower more people to take care of their health through our personal health propositions. Our portfolio of patient- and people-centric innovations in hardware, software, AI and services, supports care in the hospital and in the home, and we are the preferred strategic and innovation partner for many customers across the globe.”
Emphasizing the potential of informatics and AI both within hospital settings and at home, Philips is increasingly focusing its innovation efforts on these fields. Philips is one of the leaders in AI-related patent applications in healthcare and deploys approximately half of its R&D workforce in software development. For example, Philips unlocks insights at scale from combined imaging and monitoring data pools to improve workflows, enhance caregiver and patient experience, and elevate care delivery, which positions the company as a global leader and trusted partner in software, data and AI.
Renowned as a global innovator in health technology, Philips invested approximately EUR 1.7 billion in research and development in 2023 to help drive better care for more people. With 9% of sales, this is well above the industry average. The company's extensive intellectual property portfolio includes 53,000 patent rights, 31,500 trademarks, 135,000 design rights, and 3,300 domain names.
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