China submitted the highest number of patent applications in 2024, leading global intellectual property activity, a new report shows.
The US is ranked second on the list, followed by Japan, South Korea and Germany.
Meanwhile, China issued over 1 million patents, more than three times the amount issued by the US, which was 319,815. The Chinese saw a 124,000 case increase compared with 2023, while the US only approved 4,570 more, which was a 27 times difference.
The organisation found in 2024 global innovators submitted a record-breaking 3.7 million patent applications, up 4.9 per cent on 2023, and a fifth straight year of rise, and an estimated 2.1 million patents were granted worldwide.
Experts share innovative ideas that help tackle global challenges
Experts share innovative ideas that help tackle global challenges
China’s patent filing had a 9 per cent increase year on year, with about 153,000 more than last year, and the Chinese share of the world total has risen from 34.6 per cent in 2014 to 49.1 per cent in 2024, the report noted.