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January 26, 2022

ESG: Top three medical device companies leading the way

The assessment comes from GlobalData’s Thematic Research ecosystem, which ranks companies on their likelihood to tackle challenges like ESG.

By Data Journalism Team

GE and Roche are among the companies best positioned to take advantage of future environmental, social and governance (ESG) disruption in the medical devices industry, our analysis shows.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
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The assessment comes from GlobalData’s Thematic Research ecosystem, which ranks companies on a scale of 1 to 5 based on their likelihood to tackle challenges like ESG and emerge as long-term winners of the medical devices sector.

According to our analysis, 3M completes the top three of companies best positioned to benefit from investments in ESG, all of them recording scores of 5 out of 5 in GlobalData’s Medical Devices Thematic Scorecard.

The table below shows how GlobalData analysts scored the biggest companies in the medical devices industry on their ESG performance, as well as the number of new ESG jobs, deals, patents and mentions in company reports since January 2021.

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Medical Devices Thematic Scorecard 

By GlobalData
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The final column in the table represents the overall score given to that company when it comes to their current ESG position relative to their peers. A score of 5 indicates that a company is a dominant player in this space, while companies that score less than 3 are vulnerable to being left behind. These can be read fairly straightforwardly.

The other datapoints in the table are more nuanced, showcasing recent ESG investment across a range of areas over the past year. These metrics give an indication of whether ESG is at the top of executives’ minds now, but high numbers in these fields are just as likely to represent desperate attempts to catch-up as they are genuine strength in ESG.

For example, a high number of mentions of ESG in quarterly company filings could indicate either the company is reaping the rewards of previous investments, or it needs to invest more to catch up with the rest of the industry. Similarly, a high number of deals could indicate that a company is dominating the market, or that it is using mergers and acquisitions to fill in gaps in its offering.

This article is based on GlobalData research figures as of 21 January 2022. For more up-to-date figures, check the GlobalData website.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
Enter your details here to receive your free Report.

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