Current patent system does not provide a financial incentive
Skillicorn, ideatovalue.com chief editor and founder, 16
[Nick Skillicorn, ideatovalue.com chief editor and founder, 8-31-16, Inc., “How the Current Patent System Actually Hurts Inventorsm,” , accessed: 7-11-24, ES]
While you can file patents yourself for quite a low cost, it is a very specialised application process that greatly benefits from expertise.
As such, most researchers estimate that an average "utility" patent cost about $20,000 - 30,000 to file, but is only worth about $10,000. And this is a weighted average, in reality most patents are in fact worthless.
"It's not any secret that on a cash basis, it doesn't make sense to file patents, and yet companies do it" - R. Polk Wagner, law professor at University of Pennsylvania.
Yes, there are some exceptions, like drug companies where a single patent can be vital to their breakthrough and profit, but in most cases it just isn't financially worth it.