Key Facts about Irish Medtech Sector
Source: Irish Medical Device Association
- Currently 250 medical technology companies in Ireland, exporting €8bn 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 8.5% of Ireland’s total merchandise exports.
- 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.
- 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*.
*Sources: Eucomed and OECD 2010; European Patent Office 2006