The number of international patent applications has increased by 0.3% and reached its peak in 2022. Innovators in China, the United States, Japan, the Republic of Korea and Germany have been the top five countries in filings under World Intellectual Property Organization (WIPO) Patent Cooperation Treaty (PCT). Along with the top five countries, more than a few Latin American countries - Mexico, Chile, Colombia, Argentina Uruguay- have also experienced growth in PCT applications.