The Innovation Momentum report recognizes the companies and industries developing innovative solutions to today’s challenges and laying the intellectual property foundations for further breakthroughs.
NEW YORK, Jan. 31, 2023 – LexisNexis® Legal & Professional, the leading provider of science-backed patent analytics technology, released its “Innovation Momentum 2023: The Global Top 100” report. Based on an analysis of shifts in patent portfolio strength over the last two years, the second edition of this annual intellectual property report charts how the world’s most dynamic innovators are contributing to scientific and technological advancement.
Innovation Momentum: The Global Top 100 brings clarity to the pace and evolution of technology development over the past two years, delivering new analysis into the complexities of intellectual property. Organizations get insights from gauging their innovation performance against peers and assessing their investments in leading-edge technologies with an unbiased perspective. The report’s unique methodology builds on the Patent Asset Index, a patent evaluation metric featured in the analytics platform LexisNexis® PatentSight®. The Top 100 assesses the quality of patent families within a company’s portfolio, rewarding patent owners with small but high-quality portfolios and those with holdings more extensive and well-maintained over time.
“This year’s edition of the Innovation Momentum report shows that, even when faced with unprecedented challenges, the spirit of innovation can transform adversity into opportunity and setbacks into long-term success,” said Marco Richter, Head of Global Customer Success, LexisNexis® Intellectual Property Solutions. “We congratulate each of the companies in the Top 100 and look forward to seeing how their innovations evolve.”
“Innovation leadership also means covering ground-breaking innovations early on and being agile with regard to the ideal timing and geographies of our patents,” adds Peter Berg, VP of Intellectual Property at Infineon Technologies, a semiconductor company within the Global Top 100. “Both can be captured by the PatentSight indices.”
Accelerating global trends spark new waves of innovation
Beyond providing a benchmark for progress in innovation, the report includes deep dives into three industries that serve as case studies for diversified and agile innovation:
- This year, the chemicals and materials industry’s higher placement reflects its essential role in providing the building blocks for other sectors. The two companies in this industry with the strongest patent portfolios demonstrate innovation momentum in different ways; while LG Chem boasts a large overall portfolio size, BASF stands out for the high quality of its patents within a streamlined portfolio.
- Tobacco company entries dominate the consumer goods industry list. For businesses like Philip Morris International, innovation through products like the e-cigarette is a matter of survival as consumer habits and regulators increasingly move against traditional tobacco use.
- Medical technology companies in the Top 100 all increased their patent portfolio size to address the needs of a rapidly aging world. Medical device company Medtronic—which owns the report’s largest and strongest portfolio in the medical technologies category—is developing technologies that enable everything from diabetes monitoring to less-invasive surgery.
Pharmaceuticals and information technologies lead the way in fast-paced innovation
Five industries—pharmaceuticals, information technologies, chemicals and materials, electronics, and semiconductors—lead the Top 100 as businesses reckon with emerging challenges:
- The pharmaceuticals industry maintains its top placement, with the long tail of COVID-19 and the aging global population creating demand for new therapies.
- The information technologies industry comes in second place, with a diverse set of companies building on the digital adoption spurred by the pandemic.
- The semiconductor industry is innovating across multiple fronts, addressing recent supply bottlenecks and developing technologies integral to addressing global issues like climate change, such as the chips used in electric vehicles.
Regional differences matter, and new entrants bring fresh perspectives
The report shows innovations in some fields are concentrated in certain countries or regions. For example, the U.S. is represented in the Top 100 more than any other country, with a particularly strong showing in information technologies and medical technologies. In contrast, China and Korea continue to build upon their traditional strengths in electronics and the chemicals and materials industry.
Compared to country-level analysis in last year’s Top 100, Japan is the largest gainer with 6 mentions versus just 1 mention in 2022 and China recorded the biggest decline with 13 mentions versus 18 last year.
All in all, this year’s list features 27 new entrants from various regions and sectors, a testament to the diversity of today’s innovation landscape. Some of the most exciting new entries showcase the transformative impact of innovation momentum. Välinge Innovation, a Swedish company, has the highest average patent quality in the chemicals and materials category but also stands out for an intriguing business model based on licensing its hardwood flooring technology to manufacturers.
To download the report and learn more about the dynamics of today’s technology development and the patent owners outperforming their peers in the potential to lead to further inventions, visit staging.lexisnexisip.com/innovation-report-2023
About LexisNexis® Legal & Professional
LexisNexis® Legal & Professional is a leading global provider of legal, regulatory, and business information and analytics that helps customers increase productivity, improve decision-making and outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 10,500 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
About LexisNexis® Intellectual Property Solutions
LexisNexis® Intellectual Property Solutions bring clarity to innovation for businesses worldwide. We enable innovators to accomplish more by helping them make informed decisions, be more productive, comply with regulations and ultimately achieve a competitive advantage for their business. LexisNexis® Intellectual Property Solutions’ suite of workflow and analytics solutions (LexisNexis® IP Data Direct, LexisNexis® IPlytics, LexisNexis PatentAdvisor®, LexisNexis PatentOptimizer®, LexisNexis® PatentSight®, and LexisNexis TotalPatent One®) enable companies to be more efficient and effective at bringing meaningful innovations to the world. We are proud to directly support and serve these innovators in their endeavors to better humankind.
LexisNexis Intellectual Property Solutions
Account Manager, The Bulleit Group