medical and healthcare
alspaugh law industries
Industries
Patent law differences by industry
Patent law differences by industry
The Medical and Healthcare industry is huge with some analysts and the Centers for Medicare & Medicaid Services identifying 17% of US GDP as impacted by healthcare in the US. That is an astonishing $4.1 trillion in 2021. The medical device and pharmaceutical industry are conservatively estimated at $600,000,000,000 in the US annually. With that much money at stake you better believe that market participants are fighting for their share utilizing significant patent strategy.
Healthcare is segmented in several ways, from degree of care including critical care, emergency services, hospital care, in patient care, outpatient care, long term care and hospice for example. Healthcare can also be classified by levels of education, areas of specialty, consumer, and prescription. Each of these categories can be carved up into care for young and old, men and women, organ systems, and holistic care. The healthcare industry is so segmented that there are almost as many ways to protect the target market.
Give us a call. We love this stuff.