Analysis of the key themes driving deal activity reveals that cybersecurity accounted for 58 medical device deals between 2018 and 2022, worth a total value of $1,918m, according to GlobalData’s Deals database covering mergers and acquisitions, private equity, venture financing, equity offerings and partnerships. The $75m venture financing of RapidSOS was the largest disclosed deal in 2022, while the $1,546m equity offering by Lenovo Group was the largest disclosed deal in 2021.  

In volume terms, cybersecurity related deal activity increased by 64% year-on-year in 2022 and remained flat year-on-year in 2021. 

Partnerships accounted for the highest number of deals in the last five years, with 24 deals, followed by venture financing (16 deals), and acquisitions (7 deals).

The top legal advisors supporting deals related to cybersecurity in the medical device industry in the last five years in terms of value were Willkie Farr & Gallagher; Wilson Sonsini Goodrich & Rosati Professional; DLA Piper; Latham & Watkins; and Evergreen Legal.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article. 

GlobalData’s Deals database provides comprehensive coverage across industries tracking market activity of global mergers & acquisitions, including asset acquisitions/divestments; private equity deals (PE); venture finance deals (VC); equity offerings, including IPOs, follow-on offerings, and private placements; debt offerings, including private placements, ESG bonds and loans; partnerships; and licensing agreements. 

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumored deals.  

The global medical device industry experienced a 1% increase in annual average growth rate (AAGR) in the number of cybersecurity-related patent applications between 2020 and 2022. The total number of cybersecurity-related grants increased by an AAGR of 8% during the same period, according to GlobalData's patent analytics database.  

Notably, the number of cybersecurity-related patent applications in the medical device industry was 7,706 since 2020, while 3,929 applications were granted.  

Analysis of patent applications by assignee shows that Johnson & Johnson filed the most cybersecurity patents within the medical device industry since 2020. The company filed 382 cybersecurity-related patents since 2020.  

It was followed by Samsung Group (208 applications), Koninklijke Philips (103 applications), Omron (85 applications) and I-Sens (76 applications).  

Analysis of patent grants by assignee shows that Samsung Group was granted 177 patents related to cybersecurity within the medical device industry since 2020. It was followed by Johnson & Johnson (104 grants), Omron (68 grants), Koninklijke Philips (55 grants) and Microsoft (52 grants).

The largest share of cybersecurity-related patent publications in the medical device industry since 2020 was held by the US with 45%, followed by China (25%) and Japan (9%).

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article. 

GlobalData’s Patents Analytics tracks patent filings and grants from official patent offices around the world. Proprietary analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.