The Irish Medtech Association, The Ibec group that represents the medtech sector, Enterprise Ireland and IDA Ireland has highlighted global growth opportunities for the Irish medtech industry at Medtech Rising: The Irish Medtech CEO Conference.
Irish Medtech Association director Sinead Keogh said: “Since the early 1990s, the number of medtech companies here has risen from 50 to more than 450, with 9 of the world’s top 10 medtech companies having a base here. Over the past 12 months more than €557 million worth of investments by FDI multinationals and funding for start-ups has been publicly announced with many new jobs added to Irish economy. Ireland is one of the top seven employers of medtech professionals in Europe as well as the greatest employer of medtech professionals, per capita, with more than 40,000 people working in the sector. Medtech Rising is an event which brings together business leaders from Ireland’s vibrant medtech sector to arm them with the latest industry foresight on key issues such as manufacturing the future, leadership, innovation and business trends to gain a greater share of the global medtech market which is expected to be worth €530 billion in sales by 2024.”
The event featured 35 speakers sharing their insights covering trends including new business models and leadership, innovation and digital health, as well as manufacturing and the factories of the future.
Enterprise Ireland’s manager of life sciences Deirdre Glenn said: “Ireland is a great place to start and grow a medtech business with over 60% of companies here being home grown. Additionally, four out of five Irish-based medtech businesses are either start-ups or SMEs. 2019 has been another successful year with medtech startups and SMEs in Ireland attracting more than €142 million in financing. As the competition for financing intensifies, events like Medtech Rising are vital to help companies with global ambition understand what it takes to stand out to investors and how to turn a good idea into a life-saving technology that’s used in health systems across the world.”
