Medical Device Companies

Medical Device Companies

Some key Irish Medtech facts/ figures:

  • There are currently 250 medical technology companies in Ireland, exporting €7.2b worth of product annually and employing 25,000 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.
  • 50% 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, this is good news for Medical and Science Recruitment in Ireland.
  • 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..

Some key European facts/ figures:

  • There are almost 22,500 medical technology companies in EU, employing nearly 500,000 employees, with annual sales of €95 billion*.
  • The medical technology industry produces over 500,000 individual products, in 10,000 generic groups*.
  • 80% of medical technology companies are SMEs*.
  • In excess of €7.6 billion euro is invested in R&D by medical technology companies annually*.
  • A new European medtech patent is filed every 38 minutes* .

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.

*Sources: Eucomed and OECD 2010; European Patent Office 2006

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