Data from IP Australia's recently released Australian Intellectual Property Report 2022 highlighted 'a record high' 32,397 standard patent applications filed in Australia in 2021, which demonstrated an 11 per cent increase on 2020 filings.
The top three technology classes – pharmaceuticals, medical technology, and biotechnology – created the increase in patents filed in 2021 around the need to develop novel coronavirus vaccines and treatments in Australia.
The report also noted an indication of 'global innovation investments were more resilient during COVID-19 than during past global economic recessions.'
Patents filed in Australia were prominently featured in these sectors, and they saw a growth from 2020 filings with:
- 3,982 applications in the pharmaceuticals sector, increased by 27 per cent
- 3,912 applications in medical technology, rose by six per cent and;
- 3,120 applications in biotechnology, increased by nine per cent
The Australian Government's IP Australia administers IP rights and legislation relating to patents, trademarks, designs, and plant breeder's rights. The government body contributes to the innovation system more broadly by using its skills and experience to advise government and Australian businesses to make the most of their IP.
AusBiotech is currently working with its Intellectual Property Advisory Group to showcase the importance of Australian life sciences companies and the relationship between IP and the sector's ability to attract investment, create jobs and discover new innovations.
To download the Australian Intellectual Property Report, click here.
