As per Thomson Reuter’s analysis of global patents, the life sciences industry is attaining increasing succession over technology-based sectors in terms of driving global innovation.
The year 2014 has been full of patents application and successful grants than any other year in the history. This reflects the ingenious nature of civilization with relevance to few examples like designing driverless cars, discovering new drugs for cancer or building bionic limbs.
Nevertheless, a slow growth in innovation has been observed with worldwide patent volume up 3% last year, the smallest annual rise since the end of the global recession in 2009. Whereas, previously, nearly double-digit percentage increase has been recorded. One plausible reason for such a behavior could be tighter patenting rules in the US.
A significant drop in patents for semiconductors to 5%