The need for sustainability or environmental, social, and governance (ESG) in the medical device industry is growing to reduce the environmental impact of manufacturing and supply chains.
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Companies are also taking proactive steps to increase access to products in developing countries and pricing their products in such a way that more patients can access them.
Discover the leading Medical Device ESG Consultants
Using its experience in the sector, Medical Device Network has listed some of the leading medical device companies offering products and services related to ESG.
The information provided in the download document is drafted for medical device executives and technology leaders involved in medical device ESG innovations.
The download contains detailed information on suppliers and their product offerings, as well as contact details to aid purchase or hiring decisions.
Leading adopters of sustainability in the medical device industry include Roche, GE Healthcare, 3M, Johnson & Johnson, Medtronic, Philips, Thermo Fisher Scientific, Quest Diagnostics, Edwards Lifesciences, and Coloplast.
ESG actions in medical devices
Materials used
The climate impact of manufacturing in the medical device sector can be mitigated by designing products in such a way that they are less carbon-intensive. Reducing the size of the product or using carbon-negative materials are some of the ways in which climate impact in the sector can be minimised.
3D Printing
The development and manufacturing of medical devices is often a lengthy and costly process. 3D printing of devices can help in reducing costs, and materials used, as well as minimise the environmental burden by using the exact number of raw materials required.
Health and Safety
Medical devices need to ensure the health and safety of patients, which is among the most pressing social issues impacting the sector. Good manufacturing practices (GMP) ensure that medical devices are manufactured according to quality standards.
Such practices need to be implemented at all stages of the manufacturing process to minimise the risk of poor-quality products. Any deviation from these practices may cause serious harm to patients as the safety and efficacy of the device cannot be ensured.
Data privacy
The increased use of connected medical devices and health tools and the sharing of patient data across healthcare organisations, insurers and providers increases the risk of data exposure. Medical device companies and other organisations need to ensure that patient data is protected and remains confidential while providing access to third parties only upon request.
For full details (including contact details) on the leading Medical Device ESG Consultants within this space, download the free Buyer’s Guide below:
Frequently asked questions
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What is the role of ESG in the medical device industry?
ESG in the medical device industry focuses on reducing environmental impact, improving social responsibility, and strengthening governance. Companies adopt sustainable practices, such as using eco-friendly materials, minimising waste, and ensuring high product safety standards. This also includes data privacy and ethical supply chain management.
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How do ESG consultants help medical device companies?
ESG consultants assist medical device companies in developing strategies to enhance sustainability, reduce carbon footprints, and ensure compliance with regulations. They offer guidance on environmental initiatives and governance frameworks.
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How can medical device companies reduce their environmental impact?
Medical device companies can reduce their environmental impact by using carbon-neutral or negative materials, optimising packaging, and incorporating 3D printing to minimise waste during production. Sustainable practices reduce both the environmental burden and manufacturing costs.
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What social considerations are important for medical device companies?
Key social considerations include ensuring product safety for patients, maintaining health and safety standards during manufacturing, and enhancing community health outcomes. Companies also focus on equitable access to medical devices and fair pricing strategies.
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What governance practices are essential in ESG for medical devices?
Governance practices in the medical device sector include strong data privacy protocols, transparent reporting, and ethical supply chain management. Companies must ensure compliance with industry regulations while protecting patient data and maintaining high ethical standards in all operations.