Icelandic Companies File Fewer Patent Applications Than Their Nordic Counterparts

A newly released report (in Icelandic only) comparing patent applications filed by Icelandic and Nordic companies over the past 20 years reveals that Iceland ranks lowest among the Nordic countries in terms of patent applications per capita.

Despite this, Icelandic companies perform strongly in certain fields: they file more patent applications in health technology than any other Nordic country, and also show strength in food technology. However, in the field of geothermal energy and other renewables, Iceland has filed very few patent applications in the past two decades, placing the country last in the Nordic region in this category. In total, Icelandic companies currently hold approximately 400 active patents.

Among Icelandic applicants, Össur is the clear leader, accounting for 396 published patent applications between 2004 and 2024, more than a quarter of all applications from Icelandic entities. deCODE genetics follows with 139 applications, and Marel ranks third with 114. These three companies dominate Iceland’s patent landscape.

The report was prepared by the Nordic Patent Institute for the Icelandic Intellectual Property Office (ISIPO). Borghildur Erlingsdóttir, Director General of ISIPO, presented the key findings at the Iceland Innovation Congress. She emphasized the importance of Icelandic companies taking stronger steps to protect their intellectual property, noting that numerous studies have shown a clear link between structured IP protection and increased value creation and business success.

According to the report, Icelandic companies have filed an average of 62 patent applications annually over the past 20 years. Only six companies have filed more than 30 published applications during this time, and all of them are active in healthtech, pharmaceuticals and biotechnology or food production and fisheries.

While the number of patent applications in pharmaceuticals and biotechnology has declined since 2004, filings in computer technology have increased.

In 2024, Iceland had 170 published patent applications per million inhabitants, slightly ahead of Norway (164 per million). However, Sweden and Finland far outpace other Nordic countries, with 606 and 661 applications per million inhabitants respectively. Denmark ranks in between with 429 per million.

Most Icelandic patent applications are first filed in the United States, followed by Iceland. The report also notes that only around 10% of inventors named in Icelandic patent applications are women.

These findings are consistent with Iceland’s position in the EPO Patent Index for 2024, which shows that Iceland lags behind its Nordic peers in European patent activity. With the exception of Norway, the other Nordic countries rank among the top in Europe for patenting activity.