The Green Revolution in MedTech

As global awareness of environmental issues grows, the MedTech industry is increasingly turning its attention towards sustainability. The intersection of healthcare and environmental stewardship is becoming a crucial focus, with companies now prioritising the development of eco-friendly technologies and sustainable practices. Discover the expected impact of the upcoming Green Revolution in the latest issue of the Guided Solutions Chronicle.

The Need for Sustainable MedTech

According to Harvard Medicine, the healthcare sector contributes approximately 4.4% of global greenhouse gas emissions . Medical devices and pharmaceuticals significantly contribute to this footprint, highlighting the urgent need for sustainable innovation. The World Health Organization has often emphasised the importance of sustainability in healthcare, urging industries to reduce their environmental impact while continuing to improve patient outcomes.

Current Market Value ??

The market for sustainable MedTech devices is rapidly expanding as both environmental consciousness and regulatory pressures increase across the healthcare industry. The MedTech market is expected to reach a global revenue of $595 billion in 2024 and a CAGR of 6.1 from 2022 to 2030 , as per MedTech and Medical Device Outlook for 2024 & Beyond Report. This growth is partially driven by the rising demand for eco-friendly products, advancements in biodegradable materials, and the increasing adoption of energy-efficient technologies within healthcare facilities. Companies investing in sustainable practices are meeting regulatory requirements and gaining a competitive edge in this burgeoning market.

Current Trends and Innovations

Development of biodegradable medical devices: These devices are designed to dissolve or be absorbed by the body after fulfilling their purpose, reducing the need for additional surgeries to remove them and minimising medical waste. According to a r eport by Export Market Trends , the global biodegradable medical plastics market is expected to grow at a CAGR of 11.9% during from 2024 to 2032 and reach USD 11.9 billion in 2032.

Shift towards energy-efficient medical devices: Innovations such as low-power imaging equipment and energy-saving hospital infrastructure are reducing the overall carbon footprint of healthcare facilities. For instance, Philips Healthcare has introduced an Azurion image-guided therapy platform that lowers energy consumption by more than 10% over the system’s total life usage compared to its predecessor.

Use of renewable materials in medical device manufacturing: Companies are also increasingly adopting plant-based plastics and other sustainable materials that reduce reliance on fossil fuels and decrease environmental impact.

Challenges on the Horizon

In 2024, companies interested in developing sustainable MedTech devices face several significant challenges.

High Cost of Innovation: Developing eco-friendly medical devices often requires substantial investment in research and development to discover and implement sustainable materials and energy-efficient technologies. These materials are often more expensive than their traditional counterparts, and the costs associated with redesigning manufacturing processes to reduce environmental impact can be prohibitive.

Regulatory Restrictions: These innovations must still meet the stringent regulatory standards for safety and efficacy in the healthcare industry, which can further drive up costs and extend the time to market.

Lack of established infrastructure for recycling and disposal of sustainable medical devices: While the push towards biodegradable and recyclable materials is strong, the existing waste management systems in many regions are not yet equipped to handle these new materials effectively. This creates a gap between innovation and practical application, limiting the widespread adoption of sustainable devices.

Lack of Product Knowledge: There is often limited consumer awareness and demand for sustainable products, as many healthcare providers and patients prioritise clinical efficacy and cost over environmental considerations. As a result, companies must invest in education and marketing efforts to build awareness and drive demand, which adds another layer of complexity to the already challenging landscape of sustainable MedTech development.

Companies Leading the Way

Several MedTech companies are at the forefront of this green revolution. GE Healthcare is investing in sustainable product design, aiming to reduce its carbon footprint by 50% by 2030 . Siemens Healthineers has committed to carbon neutrality by 2050 and is developing energy-efficient imaging technologies. Johnson & Johnson is pioneering the use of sustainable materials and has launched several initiatives to reduce waste in medical device manufacturing.

As the MedTech industry continues to innovate, integrating sustainable practices is not just an option but a necessity. By embracing green technologies, these companies are setting a new standard for the future of healthcare, ensuring that environmental responsibility goes hand-in-hand with patient care.

The team at Guided Solutions has experience with clients operating with sustainable technology and remains available to guide companies through their hiring journey, addressing any challenges that may arise.

With over 24 years of expertise and having placed 9,500+ candidates, primarily within SMEs across 40+ countries, Guided Solutions is highly experienced in the MedTech sector. We have a proven track record of working closely with founders who have scaled their businesses from the ground up, giving us deep insights into the skills and resilience needed in dynamic environments.

We are here to support your hiring journey and address any challenges you may face. ?Contact us today for a non-obligatory consultation.

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We look forward to reconnecting with you in October.

The Team at Guided Solutions