UN Reports Dip in Global Patent Applications for 2023

For the first time in 14 years, international patent applications have decreased, with a 1.8% drop to 272,600 filings in 2023, according to the World Intellectual Property Organisation (WIPO).

The UN attributes this dip to economic challenges and increased interest rates, but indicates that countries like India have seen a surge in filings.

Carsten Fink, WIPO's chief economist, suggests this downturn is temporary, tied to the current economic climate, and predicts a rebound when conditions improve. Daren Tang, WIPO Director-General, anticipates a recovery later this year as inflation rates decline, potentially boosting innovation investments.

China remains the top filer under the Patent Cooperation Treaty, despite a marginal decrease, followed by the US with a more significant drop. South Korea showed an increase, and India demonstrated a remarkable 44.6% growth in filings. Other countries with higher figures include Turkey, the Netherlands, and France.

Asia continues to lead in patent filings, now accounting for over half of the total. Huawei, Samsung Electronics, Qualcomm, Mitsubishi Electric, and BOE Technology remain at the forefront of company filings. Notably, the technology sector, particularly computer technology, digital communication, and electrical machinery, dominates patent applications.