Redsense medical has submitted a PCT application based on their Swedish patent for smart bandage – ‘A Device for measuring a property of a measurement object by luminescence’. The Swedish patent approval has been announced earlier this year.
“Filing for a PCT is important to ensure the protection of our new technology and build value for our patent portfolio” says Patrik Byhmer CEO, Redsense Medical AB.
Patrik Byhmer continues, “the company’s smart wound care technology makes it possible to develop thin sensor layers for optical measuring of several physiological and biological parameters such as blood and exudate. The layer of sensors can be used separately or integrated directly into smart bandages or adhesive plasters. As the technology enables very cost and resource effective individual wound care, it has potential to revolutionize the global wound care market”
The global market for wound care products
The wound care market was valued at approximately USD 18 billion in 2016, and it is expected to grow at a CAGR of 5.3 % until 2023. The primary drivers of market growth are an ageing global population, a larger number of diabetics and increasing investments in research and development, which is also expected to lead to new research discoveries in this area. Chronic wounds are expected to constitute most of the wound care market up until 2022.
What is PCT?
The Patent Cooperation Treaty (PCT) is an international agreement allowing you to file a single application in one language and get an international filing date. That means the application is considered as filed in all the PCT contracting states, more than 140, on that date. A PCT application itself does not lead to a patent, rather to an international search and a written opinion regarding patentability (novelty, inventive step and industrial applicability).
The PCT is administered by the UN agency World Intellectual Property Organization (WIPO) with its headquarters in Geneva. A PCT application is dealt with in one or two phases. First, a mandatory international search is carried out (phase I), which results in an International Search Report (ISR). Then, the applicant can request an optional international preliminary examination (phase II), which results in an International Preliminary Report on Patentability (IPRP Chapter II).