Ireland’s medical technology sector has evolved into one of the leading clusters for medical device and diagnostic products globally. We are now the second largest exporter of medical products in Europe, behind only Germany, with exports climbing by over nine per cent in 2009. Circa 160 companies are involved in developing, manufacturing and marketing a diverse range of products and services from disposable plastic and wound care products to precision metal implants including pacemakers to microelectronic devices, orthopaedic implants, diagnostics, contact lenses and stents
Pressures on healthcare systems have resulted in a greater focus on enhanced efficacy of treatments and cost reduction. There is no sense of complacency across the sector in Ireland where industry and Government alike are constantly looking for new ways to enhance competitiveness, develop new capabilities and ultimately generate new sustainable growth.
A recent report published by Forfás entitled ‘Health LifeSciences in Ireland – an Enterprise Outlook’ concludes that Ireland is well positioned to take advantage of global trends in the sector including convergence products and devices, functional foods, and remote diagnostics and healthcare delivery. It concludes that relevant R&D investment combined with our ICT and engineering capabilities will serve us well as we shift towards increasingly innovative and research intensive activities.
Some key facts/ figures:
- There are currently over 160 medical technology companies in Ireland, exporting €6.8b worth of product annually and employing 24,000 people - the highest number of people working in the industry in any country in Europe, per head of population.
- Exports of medical devices and diagnostics products now represent 8% of Ireland’s total merchandise exports; and growth prospects for the industry globally remain good.
- Many of the world’s top medical technology companies have invested significantly in Ireland and a number of exciting, research-based, indigenous companies are emerging and competing internationally.
- Over 90 of the companies in the sector are indigenous (ref Enterprise Ireland)
- The Irish government has identified the medical technology sector as one of the key drivers of industrial growth for the future and provides a wide range of supports to encourage and foster this growth.
- The medical technology industry in Ireland is changing from being prominently manufacturing to being more complex and driven by R&D. It now involves intensive collaboration between a broad range of partners, including research institutions, clinicians, manufacturing companies and government agencies.
Ireland is well placed to capitalise on the growing global market for medical technology products and services. The challenge is to continue to develop
and integrate the broad range of strategic competencies and support systems that will enable this island to compete as a mature, high value added economy, with innovation at its core.