Irish medtech hub adds more than half a billion euro in last 12 months

December 04, 2019

The Irish Medtech Association, the Ibec group that represents the medtech sector, Enterprise Ireland and IDA Ireland are today highlighting global growth opportunities for the Irish medtech industry at Medtech Rising: The Irish Medtech CEO Conference which runs today, December 4th and tomorrow, December 5th. 
The event will feature more than 35 speakers including Irish business leaders and international experts sharing their insights over 15 sessions covering top global trends including new business models and leadership, innovation and digital health, as well as manufacturing and the factories of the future.
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 €557m 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 7 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.
IDA Ireland’s MedTech Department Manager Rachel Shelly said: “Ireland is a gateway to the world’s second biggest MedTech market - Europe - which is worth €115 billion; and a critical part of the global supply chain network for major multinational medtech companies. In an ever-changing global environment, Ireland’s stability, proven track record, access to talent and rich medtech ecosystem means we are a key destination for global and growing MedTech companies. MedTech Rising brings senior medtech professionals to Galway on 4-5 December to showcase how this ecosystem can support global growth.”
Enterprise Ireland’s Manager of Lifesciences 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.”
We would like to thank our event sponsors, Platinum Sponsors KPMG and Advant Medical; Gold Sponsors, Nelipak Healthcare Packaging, Teleflex, VistaMed Freudenberg Medical, Kuehne + Nagel, and SteriPack Contract Manufacturing; as well as Silver Sponsors, Creganna Medical part of TE Connectivity, Hanna Moore + Curley, IMS Marketing, Keltie, and Training Partners, the Irish Medtech Skillnet and Connected Health Skillnet, with Media Partner Medtech Strategist.