Trade shifts, health system pressures, and rise of AI, top trends shaping medtech leaders hear - Irish Medtech

Irish Medtech, the Ibec group that represents the medtech sector, Enterprise Ireland and IDA Ireland today hosted Medtech Rising, 4 December, in The Galmont, Galway, with almost 500 business leaders and policy experts gathered. At the event Irish Medtech which celebrates 25 years since it was founded also launched its new strategy (attached) setting out ambitious goals for the sector’s future in Ireland and its global standing.

Dr Eoghan Ó Faoláin, Irish Medtech Director, said, “Our vision is to position Ireland as the leading global destination for medtech building on our deep foundations to innovate for our collective future. Events like Medtech Rising The Business Leaders Conference bring leaders together to identify opportunities and respond to challenges. Today we’re also launching ‘Irish Medtech Strategy 2026 – 2029: Innovating for Patients, Driving Prosperity’ to help the industry achieve its potential. Ireland is a medtech leader, with 500 companies, employing over 50,000 people, and €20 billion in exports. As a globally oriented economy we recognise that we operate in interconnected marketplace, subject to global trends. To maintain our competitiveness we need the right policies and supports which is why getting an ambitious government-led Life Sciences Strategy for Ireland in place is integral to both our economy and our ability to shape the future of healthcare.”

Irish Medtech is committed to playing its role at the heart of the medtech community to connect leaders not only at unmissable gatherings like Medtech Rising, but through our strategic pillars which focus on, talent management and inclusion, strengthening our clinical capacity and advocating policies to enhance R&D, supporting businesses with insights and best practice sharing, promoting the effective implementation of key regulations in areas such as digital and AI, as well as empowering founders by improving our entrepreneurial ecosystem and make Ireland a launchpad for innovation, to distinguish Ireland as a location for global medtech.”

Irish Medtech has identified five key emerging trends which will shape the medtech sector significantly over the coming years, namely:

• Health System Pressures: With ageing populations and rising of chronic diseases; shift to prevention and early intervention; as well as patient centricity and personalisation.
• Data and Tech Integration: With AI-enabled devices and robotics; connected and virtual care models; data as a value driver; and digital manufacturing and 3D printing.
• Supply Chain Resilience: With global trade shifts; Environmental, Social, and Governance, as well as regulatory requirements; sustainable operations and green procurement pressures; as well as alternative sterilisation methods.
• Market Access Shifts: With more regulations and greater regulatory burdens; shift towards value-based procurement; diverging global frameworks; as well as a changing investor landscape and greater competition for financing.
• Global Talent Dynamics: With rising demand for technical skills; greater global mobility; increased cost of living; and new approaches to ecosystem collaboration.

John Nugent Department Manager, Medical Technologies and Healthcare Services, IDA Ireland, "Ireland’s medtech sector is home to leading names from the world’s top 10 companies with many IDA clients having multiple sites around Ireland. Moreover, the sector continues to evolve, expand its capabilities in areas such as innovation, digitalisation, and next generation technologies, reinforced by great talent, a culture of collaboration, and a range of supports from early-stage research to near-commercial activity. IDA’s Head of Life Sciences Rachel Shelly will delve further into Ireland’s response to a changing world at Medtech Rising, specifically how we are helping to attract and retain investment in Ireland to help the economy grow and foster innovation in turbulent times. We are optimistic about the future, and we value opportunities to foster collaboration at events like this.”

Dr Cepta Duffy, Head of Lifescience and Healthtech at Enterprise Ireland, added “Ireland is leading the medtech revolution. With a uniquely collaborative ecosystem that includes academic support and world-class research centres, Irish companies are well-positioned to provide the solutions that healthcare providers need. The past two decades Ireland’s seen a major upswing in disruptive technology developed here which is also attracting FDI multinationals and investors making us stand out as a location for medtech. Medtech Rising will address this not only by offering a stage to ambitious founders with Medtech Connect+, but also by exploring global game changers which Tom Cusack will address to help businesses get ahead. Bringing people together remains central to how we do business.”

Medtech Rising speakers include:

• Bundee Aki, Ireland and Connacht rugby player
• Jackie Murphy, Irish Medtech Chair and Vice President, Manufacturing Plant Manager, Alcon Ireland
• John Babbitt, Global MedTech Leader, EY
• Danny McCoy, CEO Ibec
• Robert Hogan, Director AI, CergenX
• Pauline Oakes, Vice President of Operations EMEA\APAC region, Integer Holdings

Thank you to our Medtech Rising sponsors: Platinum sponsor, EY; Gold sponsors, Aerogen, Brightbeam, DHL Global Forwarding, Freudenberg Medical, Irish Medtech Skillnet, Kuehne + Nagel, Multivac Group, Teleflex, Trinzo and; Silver sponsors, Alcon, BioInnovate, EIT Health, Harland Medical Systems, Innopharma Education, Manufacturing Engineering and Polymer Technology Apprenticeships, Medical Technology Ireland, Stragilon, TE Connectivity, UL Solutions, and XMS Capital Partners.