U.S. Ophthalmic Devices—a Deep-dive on the Patient Population based on Gender and Age Groups

The burgeoning aging population and a surge in obesity & diabetic cases have put the spotlight on advanced ophthalmic devices. The National Institute on Aging (NIA) estimates the geriatric population to reach 72 million by 2030, while the WHO suggests around 422 million people are living with diabetes. These trends imply the prevalence of vision impairment and blindness due to diabetic retinopathy, cataracts, glaucoma, age-related macular degeneration and vitreo-retinal disorders. Besides, the onset of the COVID-19 outbreak led to increased screen time, spurring the demand for eye examinations. 

Grand View Research has aptly paid heed to the evolving customer preferences and the paradigm shift witnessed in the healthcare & medical space. The final report, along with the database, will deliberate upon the following industry dynamics:

• The demand for minimally invasive surgeries, including multi-wavelength diabetic retinopathy treatment and LASIK surgery.
• Trend for ophthalmic devices across hospitals and eye clinics. 
• Early detection and treatment of eye diseases to help prevent vision loss. 
• Significance of adults receiving eye exams: The American Academy of Ophthalmology mentions that over 22 million adults grapple with vision impairment, and 61 million U.S. adults are at a high risk of vision loss. 
• The influence of AI as well as the impact of campaigns and programs.

Get your copy or request for a free sample of the report “U.S. Ophthalmic Patient Population Statistics Study Report”, compiled and published by Grand View Research.

Attribute	Details
U.S. Ophthalmic Patient Population (2022)	Age Groups Gender Glass Vs Contact Lenses Single Vision Vs Multifocal Number of LASIK surgeries Ethnicity Population wearing glasses % of people that wear glasses for Single Vision Vs Multifocal Number of people wearing bifocal, trifocal, and progressive lenses % of the population that has an oculus dexter and oculus sinister measurement between -6 and +6 in the prescription)

Get more insights from our in-depth market intelligence report “Ophthalmic Devices Market Analysis By Product (Optical Coherence Tomography, Ophthalmic Ultrasound), By Application (Cataract, Glaucoma), By End Use (Hospitals and Eye Clinics) And Segment Forecasts, 2022 – 2030.”

About Us
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

Find More information @ https://www.grandviewresearch.com/info/trend-reports

ESG in the Footwear Industry: A Comprehensive Overview

Shoe companies have witnessed C-suite leaders prioritize sustainability, a shift in company cultures showing the footwear industry making giant strides beyond corporate promises. Stakeholders are developing KPIs and bullish strategies to foster ESG reporting. Although the COVID-19 pandemic has had a compelling impact on industries, 2023 through 2030 should see more companies start to report sustainability both to the public and internally.

With millions of footwear inundating landfills, manufacturing of environmentally preferred materials (EPMs) has become pronounced. Sustainable use of resources, including water, energy and materials, has become the next big thing. Prominently, Adidas is contemplating replacing virgin polyester with recycled polyester by 2024. The footwear giant is bullish that 9 out of its 10 articles will have a sustainable material by 2025. Moreover, in 2021, the sportswear company aimed to use recycled marine plastic waste to manufacture 17 million pairs of shoes. During the period, Tier 1 suppliers attained a 15% dip in water intensity, while Tier 2 suppliers observed an 18% plunge.

Forward-looking companies are zeroing in on augmenting the adoption of renewable energy and boosting energy efficiency. Gen Z and millennials are expected to seek products made from materials that can be recycled, reused or repurposed. Besides, socially compliant and sound corporate governance-focused companies will remain ahead of the curve in a competitive footwear industry.

Key Companies

    • Nike, Inc.

    • Adidas AG

    • PUMA

    • Geox S.p.A

    • Timberland

    • Skechers U.S.A, Inc

    • Crocs Retail, LLC

Environmental Perspective

Contract manufacturers, material vendors and shoe companies have upped their environmental strategies to tap into the potential opportunities and enhance their ESG profiles. In essence, Caleres Inc. is vying to recycle, reclaim, or refurbish 90,000 pairs of shoes each year. The American footwear brand mentioned in its inaugural ESG report that environmentally preferred materials will be used for 25% of footwear sold in Famous Footwear. Moreover, the EPM will also be used in 100% of Caleres products and shoeboxes by 2025. Footwear material solution providers have furthered their emphasis on recycled materials, bio-based materials, waterless dying, material consolidation and waste reduction to propel their shoe sustainability profiles.  

Social Perspective

Lately, incorporating diversity, equity and inclusion (DEI) has become the talk of the town as leading players strive to create a positive change in the industry, protect the rights of employees and leverage a culture of acceptance and belonging. To illustrate, Nike had a 50.4% representation of women in the global corporate workforce during FY 2021. NIKE Impact Report notes that the American multinational company has 100% pay equity across all employee levels on an annual basis and offers equitable and competitive benefits for all employees. It also fostered relationships with more than 50 external partners, such as Lesbians Who Tech, the Mom Project and Women Who Code, enabling the footwear behemoth to hire candidates from various backgrounds. Considering the soaring demand for socially sustainable footwear, leading shoe brands are poised to emphasize ESG pillars.

Is your business one of the participants in the Footwear Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Governance Perspective

The significance of sound corporate governance has gained new heights to oversee sustainability initiatives, DEI opportunities, community affairs and labor practices. In essence, at Puma, leaders from CEO to the Team Head level have clearly defined sustainability targets in line with its Forever Better Sustainability Strategy. It is worth noting that the strategy is based on 10FOR25 target areas, including Human Rights, Climate Action, Plastic and the Oceans and Circularity, to integrate sustainability into the core business functions.

The German sporting goods company has underscored gender balance at management levels and reinforced the ratio of women in leadership positions. As of November 2022, women have filled 44% of leadership positions at Puma. Further, employees in leadership positions are trained in intercultural communication, diversity and inclusion, exhibiting commitment to a tolerant and open work environment through buoyant governance.

The effective implementation of ESG practices, along with organic and inorganic growth strategies, has become paramount to adding value to the company's growth. To put this in perspective, footwear companies are poised to use sustainability to systematically address challenges focusing on technological advancements, geographical expansion, ESG reporting and bullish sustainability targets. For instance, by May 2021, On met its goal to use 100% recycled, FSC-certified cardboard, as well as 100% recycled HDPE in its apparel packaging, the Zurich-based athletic company stated in the Impact Progress Report 2021.

Given the social and political pressure shoe companies grapple with, industry leaders are expected to act proactively to stay ahead of the game. According to Grand View Research, the global footwear market size stood at USD 373.19 billion in 2021 and could depict a 4.3% CAGR between 2022 and 2030.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Organ Transplantation – A Study on the Demand – supply Gap based on Disease Demographics at Country Level

For certain diseases and ailments, the only option a patient may have to increase their longevity, or even to stay alive, is solid organ transplantation. Although, there is a pre-defined process for a patient to obtain an organ for transplantation and go through the procedure, the certainty of the entire operation depends on multiple factors like organ availability, compatibility, and then procedure success rate along with the complications related to organ rejection by the recipient body.

The Healthcare Research Vertical at Grand View Research is engaged into building a database highlighting the total number of patients currently awaiting donor organs bifurcated on the basis of countries, and the demand-supply gap in the next 7 years. The final report, along with the database will focus on the following:

• Incidence rates of different diseases in each country
• Probability of patients getting added to the wait list each year
• Government and non-governmental organizations and their contributions in each country.
• Other management methods for the wait-listed like Insulin, Dialysis machines, Pacemakers, Extracorporeal oxygenators
• The above-mentioned numbers would be based on the historical trends and current driving factors including, the sedentary lifestyle, environmental factors, and aging population.

Get your copy or request for a free sample of the report “Transplantations & Alternatives Demand-supply Gap Study, 2023”, compiled and published by Grand View Research

Transplantations & Alternatives Demand-Supply Gap Report Scope

Attribute	Details
Transplantation	Total waiting list by country Number of transplantation procedures each year, by country
Disease demographics	Number of organ failure cases by each organ type Heart Lung Kidney Liver Others
Treatment Cost Per Patient	Total burden during the waiting period Total expenditure for transplantation Total burden after transplantation
Quality of Life	Disability-adjusted life years (DALYs)
Comorbidity Analysis	Adverse effects Difficulties in management
Reimbursement Differences	Coverage by government and non-governmental organizations
Regions	North America U.S. Canada Europe UK Germany France Italy Spain Denmark Sweden Norway Asia Pacific Japan China India Australia Thailand South Korea Latin America Brazil Mexico Argentina MEA South Africa Saudi Arabia UAE Kuwait

Get more insights from our in-depth market intelligence report “Transplantation Market Size, Share, & Trends Analysis Report By Product (Tissue Products, Immunosuppressive Drugs, Preservation Solution), By Application (Organ, Tissue Transplant), By End Use, And Segment Forecasts, 2022 - 2030”

About Us

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

Find More information @ https://www.grandviewresearch.com/info/trend-reports

The Role of ESG in the Food Waste Management Industry

Environmental, Social and Governance (ESG) strategies have become paramount to steer positive change for the planet, people, communities and other stakeholders. Sustainability has garnered headlines with measures for waste reduction, carbon emissions and higher raw material costs. The global push to boost ESG performance has compelled brands to emphasize recycling and waste management.

Notably, the adoption of the Sustainable Development Goals suggests countries' commitment to helping halve per capita food waste at the consumer and retail levels and minimize food losses by 2030. Amidst efforts to bolster food accessibility, around 687 million people go hungry each day, according to a report cited by the World Bank. In essence, the organization notes that 1.3 billion tons of food are wasted by consumers and retailers or lost along the supply chain.

Investors, shareholders and other stakeholders are emphasizing the reduction of environmental footprint. Government agencies and organizations are responding to demands for ESG reporting. The emergence and implementation of policies have made a profound difference in the industry. In August 2022, U.S. President Joe Biden inked an Inflation Reduction Act, alluding to the injection of USD 369 billion into energy and climate projects in the next 10 years. Several provisions of the Act aim to minimize greenhouse gas emissions by a billion metric tons by 2030. 

Key Companies in Food Waste Management Industry

    • Veoli

    • Suez

    • Waste Management, Inc.

    • Republic Services, Inc.

    • Covanta Ltd.

    • Stericycle, Inc.

Discover more regarding the practices and strategies being implemented by industry participants in the Food Waste Management Industry ESG Thematic Report, 2023, published by Astra ESG Solutions

Environmental Perspective

Food waste management companies have exhibited bullish traction for ESG as they augment greenhouse gas emission- and food waste- reduction targets. Boosting sustainable practices to motivate vendor partners, stakeholders and communities can solidify the company's position in the global ecosystem. To illustrate, Albertsons Companies mentioned in its report the commitment to zero food waste going to landfills by 2030.

The American grocery company is vying to propel the reusability, recyclability and compostability of Own Brands packaging by 2025. Furthermore, it is gearing to achieve net zero emissions in its operations by 2040 and 47% carbon reduction from its operation by 2030. Prominently, the company suggested it diverted over 215 million pounds of food from landfill with the help of anaerobic digestion. Industry partners and leaders are expected to be inclined towards creating a sustainable food system, eradicating hunger and undergirding food security.

Is your business one of the participants in the Food Waste Management Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

Social Perspective

Amidst the prevalence of food insecurity, an emphasis on customers' and employees' well-being has prompted industry leaders to bank on the social pillar. In doing so, stakeholders have upped their efforts on diversity, equity and inclusion to foster community engagement, augment the pool of diverse candidates, expand training and promote racial equity and social justice. For instance, in 2021, Kellogg's included Potential Severe Injury Fatality cases and rolled out EHS Insight Dashboards to offer better trends analysis of EHS data. The company claims to have no fatalities in 2021, with a global total Kellogg total reportable incident rate of 0.42.

The food company has furthered its efforts on diversity globally. For instance, as of December 2022, 25% of the 3,000 employees in Kellogg India are women. Women of Kellogg + (WOK+) has become pivotal in empowering women and advocating gender equity in the workplace. The American food manufacturing company is committed to Human Rights Campaigns Best Place to Work for LGBTQ Equality and Diversity Best Practices Index, among others. Companies are expected to embrace the commitment to diversity, equity and inclusion to deliver upsides to the communities, people and the environment.

Governance Perspective

Food waste management companies are counting on corporate governance, transparency, board diversity, corporate behavior and ethics to stay ahead of the curve. Diversity of experience, skills, backgrounds, qualifications, expertise and age will hold the key to selecting board members. Notably, in Veolia, seven out of ten directors on the Board of Directors of Environment are independent. The BoD is responsible for drafting the agenda of the annual shareholders meeting and appointing the chairman and the financial statements. The company has four committees: Research, Innovation and Sustainable Development Committee, accounts and audit committee, nominations committee and compensation committee.

Brands, such as Veolia, have made a giant stride in gender diversity to bolster their position in ESG performance. Prominently, the company has 33% women on the Executive committee and is gearing up for 25% women among Group executives by 2023. With gender diversity and professional equity gaining ground, companies are poised to create meaningful change through investments in governance.

The competitive landscape alludes to an emphasis on organic and inorganic strategies to tap into the global landscape. To put things in perspective, commitment to environmentally friendly food practices using state-of-the-art technologies may become pronounced in the ensuing period. The use of machine learning and AI could become the next big thing to reduce waste and propel sales through inventory management. Amazon asserts the Amazon Forecast has helped its customers in Greater China minimize product waste by 37%, leading to 22% cost savings across three merchandise categories and 168 stores.

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

The Role of Governance in the Wine Industry ESG

Environmental, social and governance (ESG) has emerged as one of the core strategies in the wine industry to integrate sustainability into business goals and achieve sustainable growth. Environmentally friendly winegrowing practices have gained ground as sustainable vineyards continue to amass popularity. Wineries and vineyards have warranted social and environmentally responsible approaches to ensure soil, communities and industry health. An emphasis on water efficiency, pest management, energy efficiency, waste management and supply chain can foster sustainable viticulture.  

Of late, organic wine that does not have added sulfites to increase shelf life has come on the horizon. Since various synthetic products are banned in several countries, producers and farmers may be forced to seek organic farming. Moreover, biodynamic farming has stood out among winegrowers as it aims to balance and revive soil, farm and plant’s health. It can also enhance soil fertility and enable vines to flourish in a balanced ecosystem. 

ESG performance will hold prominence to protect diversity, minimize waste, produce healthy wines, ensure traceability, enhance transparency and boost job creation. Similarly, stockholders, shareholders and other stakeholders are expected to bank on ESG pillars to gain steam in the global landscape.

Environmental Perspective

Winegrowers are counting on environmental performance to preserve ambiance and negate the impact of climate change on wine production. For instance, regenerative agriculture practices have received an impetus to minimize tilling, enhance soil health and help bind carbon in the soil. Moreover, an increased need for water at wineries has furthered the demand for state-of-the-art water tracking devices. Vintage Wine Estates is contemplating using NASA data and AI to forecast water availability. The U.S.-based company has been reusing wastewater from wineries and using city graywater for vineyard irrigation.

Furthermore, in 2022, the company claims to have completed its first scope 1&2 carbon emissions calculations. It also adopted strategies, such as installing alternative energy, efficiency upgrades and streamlining tracking of energy use in real-time across wineries. Brands are likely to further their sustainability quotient and stay committed to a culture of care toward the environment.

Social Perspective

Wineries and vineyards with a focus on diversity, equity, inclusion and workplace safety can redefine the global landscape. Pioneering companies and other leaders have upped investments in human rights to eliminate discrimination and forced labor. By 2022, the Asahi Group spurred efforts to complete human rights due diligence at suppliers. The company formed a Diversity, Equity & Inclusion (DE&I) statement in the preceding year. It aims to propel the percentage of female representation of leadership positions to 40% by 2030, up from 22% in 2021.

The Tokyo-based company has put the spotlight on people-to-people connections globally. It contemplates launching the Environmental Think Tank to allow employees to implement proposed projects and help resolve regional environmental issues in Oceania. Besides, it could implement support projects for hops farmers, barley farmers and Campus Peroni. Promoting a culture full of opportunities and the well-being of employees can underscore social pillar, thereby strengthening brand position.

Is your business one of participants in the Global Wine Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance Perspective

Companies that prioritize transparency, good corporate governance and board diversity may have the edge over their competitors. The strategy can optimize the company’s performance, offer guidance for smooth management and recognize the organization’s legal obligations. Specifically, women comprised 58.3% of the Board of Directors at Pernod Ricard as of 30th June 2022, while 58.3% were independent directors and 42.8% were non-French Directors.

Meanwhile, Treasury Wine Estates has eight non-executive directors and has augmented focus on risk management frameworks and controls. The company has furthered its emphasis on tax governance to muster up stakeholders’ value, trust and confidence. It has adopted a low tax risk appetite, suggesting tax risks above the level mentioned in the risk management framework are managed by a robust mitigation plan. 

Incumbent players have emphasized minimizing carbon emissions and investing in renewable energy. For instance, the Asahi Group has set an audacious goal of transitioning all of its breweries to renewable energy-derived electricity by 2025 across Europe. On the other hand, Treasury Wine Estates opened a USD 165 million production facility in Barossa Valley, South Australia, to help manage climate change impacts on winemaking vintages. These trends indicate the global wine market could observe a healthy CAGR of 6.4% from 2021 to 2028. 

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

Sustainable Baby Care Products: An Overview

Brands in the baby care products industry are emphasizing sustainable ingredients and are on course to be the early movers on several environmental, social and governance (ESG) facets. Organizations are focusing on ESG strategies that can create healthier communities, enhance affordability and access and foster corporate behavior. Safety and protection have been paramount ever since the onslaught of the COVID-19 pandemic. Parents and caretakers have shown traction for companies that have sustainability certification and promote diversity and transparency. 

Millennials have sought green products that provide nourishing and gentle care for delicate skin. Eco-friendly baby care product manufacturers are embedding ESG into their portfolios. They are likely to create long-term value by rewarding opportunities for employees, achieving better health results for toddlers and offering profitable growth for investors. 

Prominently, sustainable baby products can avoid harmful chemicals, such as parabens, sulfates, BPA and synthetic fragrances. Green-theme has come on the horizon, complementing ESG focus areas. Some factors, such as environmental health protection, innovation, accountability and a healthy workforce, will drive ESG progress. 

Environmental Perspective

An escalating climate change concern among parents has compelled businesses to improve their environmental footprint. Industry leaders are striving to reduce their carbon footprint and minimize the use of non-recyclable materials. For instance, Johnson & Johnson aims to achieve carbon neutrality for its operations by 2030 and reduce absolute Scope 3 upstream value chain emissions by 20% (from 2016 levels) within the same period. It also inked the race to zero/business ambition for a 1.5°C campaign to attain net zero carbon emissions by 2045.

The consumer brand is gearing to use 100% recyclable, compostable, or reusable plastic packaging and post-consumer recycled paper. In September 2020, Johnson & Johnson Consumer Health earmarked USD 800 million till 2030 to make more sustainable products. To bolster recyclability, it expressed contemplation in removing pumps from any products in the U.S., Europe, the Middle East and Africa with less than 500 ml volume. As consumers make more informed choices, healthcare brands will likely reinforce recyclability and combat CO2 emissions. 

Social Perspective

Brands expect ESG to drive a healthy work culture that promotes equity and diversity and recognizes and rewards contributions. Companies advocating community impact and gender and multicultural representation have a high chance of propelling their market share. P&G alluded in its 2022 Citizenship Report that it had launched Children’s Safe Drinking Water (CSDW) Program to provide clean drinking water to communities, offering 20 billion liters of clean drinking water since 2004.

In June 2022, P&G teamed up with Carrier Global Corporation to enhance access to tools and education required for healthier and safer homes. Besides, it has pledged USD 5 billion annually with women-led and diverse-owned businesses by 2030. The consumer goods company has trained over 1,000 women entrepreneurs in ten countries across the Asia Pacific, the Middle East & Africa over the past five years (in collaboration with WEConnect International). The prevalence of diverse and inclusive cultures will resonate with brands’ ESG strategies. 

Is your business one of the participants in the Global Baby Care Products Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance Perspective

Sustainability governance has amassed headlines in the baby care products industry with companies expanding their geographical footprint. Lately, some aspects, including board diversity, engagement policy, transparency, and sound corporate behavior, have gained ground. In 2021, Unilever published its Board Workforce Engagement Policy, elucidating a slew of aspects—sustainability, equity, diversity & inclusion, health and wellbeing and remuneration. The consumer goods company has earmarked €2 billion (approximately USD 2.14 billion) annually with diverse businesses globally by 2025. 

In 2021, the Board pursued developments on Clean Future, Positive Beauty, Future Foods and the Unilever Compass strategies. In the preceding year, Unilever unified its legal structure under—Unilever PLC—to bolster strategic flexibility for a buoyant outlook. It suggested that the Sustainability Progress Index comprised 8 key performance indicators from 2022. The company has also embedded diversity in its business. The U.K.-based giant is vying to unlock the talent of people with disabilities, 5% of its workforce to belong to the marginalized population by 2025. Significant progress through commitments in business ethics, corporate governance and diversity can be a game changer in the global landscape.

The competitive scenario indicates stakeholders will continue to count on ESG performance to protect environmental health, underscore social opportunity and build resilience in the business. To illustrate, in March 2022, NUK rolled out its first sustainable baby care collection products that use recycled and recyclable packaging. The company claims the paperboard packaging for the cups, pacifiers and bowls is made from 100% recycled fibers. It is worth noting that the global baby care products market size was pegged at USD 18.35 billion in 2022 and could observe around 4.3% CAGR between 2021 and 2028. 

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

An Overview of ESG in the Healthcare IT Industry

The need for sustainable strategies to conduct business responsibly and ethically has prompted healthcare IT industry players to invest in ESG practices. Robust ESG policies can foster innovation, build trust, minimize risk, reduce costs and boost trust among stakeholders. Regulators and industry leaders are assessing the demand for ESG in the healthcare sector, which can play an invaluable role in enhancing healthcare access and fostering environmental justice, diversity and workplace safety. Prominent companies have furthered their emphasis on patient access, service distribution and quality of care with a focus on social issues and sound governance. 

Stakeholders, including patients, employees, shareholders and bondholders, expect ESG to have a compelling impact on the healthcare sector. Soaring demand to minimize environmental impact and bolster product quality, labor management, access to finance and human capital development have played a pivotal role in reshaping the industry. Moreover, good corporate behavior, anti-competitive practices and transparency have remained catalysts in the landscape. 

In a bid to bring medicine and vaccines to save and improve lives, increasing access to healthcare may partly depend upon a commitment to ESG performance. The prevailing dynamics can foster sustainable value for society and business. 

Environmental Perspective

ESG action integrated into business strategy has gained ground as climate resilience garners headlines to build future healthcare organizations. Low-carbon sustainable health systems have become the talk of the town amidst the healthcare sector being infamous as a major emitter of GHG and other pollutants. For instance, Philips has been at the forefront as it has aligned its goals with UN Sustainable Development Goal 13, “Take urgent action to combat climate change and its impacts.” Overconsumption of resources, pollution, waste and soaring demand for healthcare have furthered the need for strong ESG performance.

Philips focuses on a more agile and simplified operating model, supply chain reliability, patient safety, and quality. The company is also investing in products that consume less energy and materials and contain recyclable substances. Rising adoption of digital technology, shifting consumption patterns and transition to value-based care provide opportunities for leading players to underpin solutions that enhance people’s health and protect the planet. 

Social Perspective

Employee safety risks, soaring costs of care, access to healthcare and privacy & data security have spurred the need for a robust social pillar in business operations. Reported health disparities and the prevalence of behavioral and mental health issues have compelled organizations to infuse funds into digital technology in healthcare. For instance, WELL alluded to zero reportable data breaches in 2021 in its inaugural ESG Report.

Harnessing the insights and knowledge of a diverse workforce and a strategic approach to employee development and workplace inclusion need bullish social goals. Notably, 70% of senior executive team members represented a visible minority at WELL as of June 2022. Meanwhile, Cardinal Health has fostered its diversity, equity and inclusion efforts with the representation of a 71% female and 14% ethnically diverse workforce in its executive leadership team (according to its FY 2022 ESG Report). 

Is your business one of participants in the Global Healthcare IT Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices.

Governance Perspective

Incumbent players have raised the bar with investments in corporate governance, board diversity, accounting, ethics and corporate behavior. An emphasis on ESG priorities can help build trust and make informed decision-making. Notably, the healthcare sector has evolving regulatory requirements, prompting prominent companies to underscore the regulatory aspect. In FY 2022, McKesson integrated regulatory excellence into its business strategy playbook as a major foundational discipline. It has also upped its investments in traceability and transparency. The company is gearing up for the next stage of the Drug Supply Chain Security Act (DSCSA), which is slated to be witnessed in November 2023. The prescription drugs are expected to be serialized in the U.S. and need to be traceable throughout the supply chain. 

ESG will continue to gain ground in the mission-driven nature of the industry as its integration into the core of the business will be pronounced in the ensuing period. Forward-looking companies have furthered their focus on organic & inorganic strategies, including but not limited to collaboration, mergers & acquisitions, technology advancements and innovations. For instance, in November 2022, the GE Board of Directors approved the spin-off of GE Healthcare. Under the ticker “GEHC,” the company was expected to start trading on Nasdaq on January 4, 2023. These trends suggest the global healthcare IT market could witness around 29.3% CAGR during the forecast period. 

About Astra – ESG Solutions By Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, and building corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research