Philips led Medtech patent filings in Europe, 2024

Royal Philips has emerged as the top applicant in medical technology at the European Patent Office (EPO) for 2024. The company filed 594 Medtech patent applications, reflecting its strong commitment to improving healthcare. Philips focuses on integrating informatics and artificial intelligence (AI) to enhance care quality and reduce costs. The company's CEO, Roy Jakobs, emphasized their long-standing history of innovation. He noted that innovation is vital for both hospitals and home care. Philips aims to improve the lives of 2.5 billion people by the year 2030. In 2024, Philips allocated approximately €1.7 billion for research and development. This represents more than 9% of its sales, which is higher than the industry average. The company holds an extensive intellectual property portfolio, including 50,500 patents and 30,500 trademarks. Philips has consistently ranked as one of the top applicants since the EPO began releasing patent data in 2004. In addition, the company continues to be recognized as a major global innovator, marking its 12th consecutive inclusion in a prominent global assessment. Headquartered in the Netherlands, Philips employs around 67,800 people worldwide. The company reported sales of €18 billion in 2024 and provides health solutions to consumers and healthcare providers in more than 100 countries.