ASIA’S EMERGING MARKETS CATCHING UP TO THE U.S. AND EUROPE IN TERMS OF INNOVATION
Countries like China and Korea are growing to be more than just manufacturing hubs.
Gen, June 8, 2011
The U.S. may still be the world’s leading nation when it comes to developing, protecting, and commercializing new technologies, but recent global patent numbers point to other countries vying for the top spot. China and several Asian nations are emerging as formidable innovators.
According to the European Patent Office, U.S. applicants brought forth 60,588 applications in 2010, a figure surpassed by the 82,828 filed by the 27-nation EU, whose innovations accounted for almost 90% of the 92,553 filed by the 38 nations comprising the European Patent Convention. The EU’s patent applications rose just 5% over the 2009 figure, compared with 6% for EPC and 12% for the U.S.
However, China’s 12,698 patent applications in 2010 marked a 54% increase over 2009 and a doubling from 2008. Not too far behind was South Korea with 12,342 patent applications, up a healthy 21% from 2009. And weeks before it was devastated by the March 11 earthquake and tsunami, Japan finished last year with a 10% year-over-year gain in patent applications, rising to 41,917, second among all countries.
Emerging Asian nations are expanding their biotechnology industries beyond initial strengths in manufacturing and R&D toward more innovative work in developing treatments, tools, and technologies.
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