By Carlisha Robinson ‑ May 26, 2017
Innography’s bi-annual Patent Market Tracker (PMT) found significant growth in the medical and chemistry & physics sector. In the first six months of 2016, these industries experienced accelerated growth in patent transfers. Competition is driving increased market consolidation and companies are racing to fill product pipelines – sometimes faster than their R&D departments can develop them. Accurate IP data can be used for expanded IP search and analytics to support business decision making – vital for companies trying to keep pace with innovation.
The patent gold rush
With our most recent release of Advanced Analysis from Innography, researchers from pharmaceutical and chemical manufacturers can search across more than 100 million patent documents to conduct powerful IP analyses - all in one software application. Whether mining data for IP insight or using patent information for reporting, Advanced Analysis customers will receive the industry’s most comprehensive data analytics and uncover insights that would otherwise take weeks or months to derive.
The global IP market is worth more than $350 billion annually. Yet input errors, cultural and literal translations, technical jargon and acronyms in filings can all contribute to incorrect IP data. Within the chemistry and pharmaceutical sectors, these risks are amplified by the complex names and compounds being protected. Consider the full chemical name for the human protein Titin, at 189,819 letters it takes approximately three-and-a-half hours to pronounce. There is a significant chance that a complex chemical name such as this could be recorded inaccurately.
Making search easy
Searching for patents using text to describe the chemical compounds was historically a time consuming and error-prone process. Advanced Analysis now enables users to easily find patent documents containing relevant compounds by using a smart, intuitive tool to draw chemical structures, or by typing in familiar formats, generic names (e.g. caffeine), or trademarked products (e.g. Advil®). The ability to search by a chemical structure will help users to find documents that include the exact compound they have entered, its structure as a substructure of other components, or parts of the structure they have entered.
With Advanced Analysis users can search chemical compounds by searching by chemical structure rather than text description as seen below:
For research departments in the chemical, medical and physics sector, chemical patent structure searching with Advanced Analysis empowers users to derive the industry’s most comprehensive data analytics with insights that would otherwise take weeks or months to derive. At a time when innovation is moving quickly, companies cannot afford the time spent mining inaccurate data for business insight. Chemists eat, think, breathe and dream in the language of chemical structure and Advanced Analysis’s intuitive and flexible solution help them innovate and progress in the future of IP.
Learn more about Advanced Analysis here.
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