Europe’s leading medical technology summit to gather in Ireland for the first time
Up to 1,200 business leaders are expected to register the MedTech Forum, Europe’s leading event for the medtech industry, which will take place from 30 May – 1 June in Dublin for the first time ever. Organised by MedTech Europe, and in cooperation with the Irish Medtech Association, the event will explore the key trends in international healthcare, alongside the key policies required to help the medtech sector to grow.
Ireland’s global medtech hub is already recognised as worldclass with 450 businesses, including 9 of the world’s top 10 already having a base here, and with €13 billion in exports the sector accounts for 8% of Irish exports. Moreover, Ireland stands out in Europe as one of the leading locations for foreign direct investment, and the greatest employer of medtech professionals per capita with 45,000 people working in this cutting-edge industry.
Oliver Bisazza Chief Executive Officer, MedTech Europe, said: “Europe is the world’s second largest medtech market worth €150 billion, and spanning 34,000 companies which employ more than 800,000 people. Our mission is to make innovative healthtech available to more people, while helping healthcare systems move towards a sustainable path. We believe that the depth and breadth of the industry here from disruptive startups to the world’s top medtech companies means that Europe can use its shared expertise to improve healthcare. That is why we are excited to bring together industry leaders, leading innovators, and investors, to Ireland’s global medtech hub for The MedTech Forum 2023.”
Dr Sinead Keogh, Ibec Head of Sectors and Director Irish Medtech Association, said: “Medical technologies save and transform lives. The sector is arguably the most innovative in Europe with more than 15,300 patent application filed with the European Patent Office in 2021. The Irish medtech community has been a driver of this innovation with patents granted to Irish companies almost doubling from 2017 to 2020 making it stand out as fifth in the world for medical patents, per capita.
“Demographic shifts accompanied by the rise of chronic diseases, coupled with the recent impact of the greatest global health emergency in over a century have highlighted the importance of fostering better health system resilience across the world.
“Before the global pandemic, the OECD forecast that health expenditure would outpace GDP growth by 2030, with per capita spending growing an average of 2.7% annually with people living longer and lifestyle factors reducing previous gains in areas such as cardiovascular and respiratory diseases.
The coronavirus saw spending drastically increase in 2020, with health spending reaching 9.7% across OECD countries in 2020. Beyond the immediate need for emergency measures this crisis highlighted the need to urgently take measures to create more sustainable health systems.
In Europe, approximately 11% of GDP is currently spent on healthcare with 7.6% attributed to medical technologies, with twice as much spent on pharmaceuticals. This amounts to less than 1% of GDP at €284, per capita, according to MedTech Europe calculations. The medtech industry has already invested heavily in improving health by future-proofing innovation by embracing digital solutions which empower people, facilitate preventative measures, and deliver care at the right point in the care continuum to reduce costs while improving outcomes. That is why this dynamic industry is well positioned to help shape the future of global healthcare and improve lives as a driver of value-based healthcare.”
The Medtech Forum takes place from 30 May – 1 June in The Convention Centre Dublin. Hosted by MedTech Europe, and in cooperation with the Irish Medtech Association, The Medtech Forum will offer incomparable access to leading experts to explore the latest international trends in healthtech.
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