Thomson Reuters Releases State of Innovation 2016 Study

The pace of new innovation among global corporations, universities, government agencies, and research institutions has reached record levels, according to our State of Innovation 2016 study.

Now in its seventh year, our annual study analyzes global intellectual property data as a leading indicator of innovation across 12 bellwether technology areas. This year’s study finds a double-digit, year-over-year surge in new innovation growth at 13.7%, led by significant increases in the Medical Devices, Home Appliances, Aerospace and Defense, Information Technology, and the Oil and Gas sectors.

The study also tracks global scientific literature publications as a window into the scientific and scholarly research that typically precedes discovery and the protection of innovation rights. Total scientific literature production, in contrast to overall patent volume, has posted a year-over-year decline, suggesting a potential slowdown in future innovation growth.

Key findings from the report include:

· Double-Digit Year-Over-Year Innovation Growth: Total, worldwide patent volume grew at an annualized rate of 13.7 percent in 2015, driving the overall growth rate for new patents to over 100 percent since the State of Innovation study was launched in 2009. The total volume of new scientific research has declined 19 percent over the last year and 27 percent since 2009.

· Medical Devices, Domestic Appliances, Aerospace Lead Growth: The industries showing the largest growth in year-over-year patent volume were Medical Devices (27 percent); Domestic Appliances (21 percent); Aerospace (15 percent); Petroleum (14 percent); and Computing & Peripherals (13 percent).

· Biotech is Only Sector to Slow: The only sector in the study to log a year-over-year decline in patent volume in 2015 was Biotech, which saw a -2.3 percent move.

· Open Innovation Models Thrive: The phenomenon of “open innovation” whereby corporations, universities, government agencies, and research institutions increasingly partner to bring new technologies to market, is evident in the increased comingling of multinational corporations and scientific research institutions among most prolific scientific research institutions. These include: Procter & Gamble, listed alongside the University of Sao Paulo, the U.S. FDA, and Harvard University among top research institutions in the field of Cosmetics, and Ford, listed alongside the University of Michigan and Polytechnic University of Turin among top researchers in the Automotive sector.

To download the full report, visit stateofinnovation.com