Why ESG Matters for Medtech inthe Asia-Pacific RegionNearly 70%of medtech customers surveyed expect ESG will become a corepurchasing criteria.By Vikram Kapur,Kevin Chang,Miki Yu,Glenda Ya-Wen Teng,and Benish AslamBAIN COMPANYThe voice of MedTechAPACMed Bain Company,IncWhy ESG Matters for Medtech in the Asia-PacificForewordAs a new era for the medtech industry in the Asia-Pacific region approaches,the integration of ESG considerations emerges not merely as a trend but as animperative.The upcoming decade promises rapid advancements in medical technology,Harjit Gillintertwined with an intensified focus on sustainability and ethical governance.APACMed,CEOThe industry can expect innovations catering to medical needs while priori-tizing environmental and social concerns.The ascent of digital health solutions,telemedicine,and AI-driven diagnostics will revolutionize patient care andreduce the carbon footprint by minimizing reliance on physical infrastructureand transportation.Challenges are inevitable.Evolving regulatory landscapes,shifting consumerVikram Kapurexpectations,and the global economic milieu will present unforeseen obstacles.Bain Company,Senior Partner,Yet within these challenges lie unparalleled opportunities.Medtech companiesSingaporethat wholeheartedly embrace ESG will position themselves as market leadersand vanguards of thought and innovation.These trailblazers will set industrybenchmarks,influence policy frameworks,and command consumer trust.Collaboration remains paramount.Governments,industry stakeholders,investors,and consumersmust work together to create an ecosystem that champions innovation while upholding ESG tenets.Endeavors such as cross-border research collaborations,sustainability-centric investment portfolios,and consumer education campaigns can expedite the industry's trajectory toward a sustainablefuture.This report is a collaboration between APACMed and Bain Company and brought together 15member companies from APACMed to develop an online,comprehensive dashboard of environ-mental regulations specific to the medtech value chain across six markets in APAC.This was supple-mented by surveys of 120 customers and more than 800 employees and various executives frommedtech companies to better understand how stakeholders'changing expectations are reinforcingthe importance of ESG as a strategic priority for companies.The medtech landscape in the Asia-Pacific region stands on the brink of transformative growth.By embedding ESG in the core ofthis metamorphosis,the industry can ensure growth that is expo-nential,responsible,resilient,and aligned with cherished values.1