Today, the Irish medical device cluster has global value, beyond its weight in terms of size and population. This has been happening now for decades. But what about the future?

After all, today's world is very different. Technologies  that    we  couldn't  imagine 30 years ago are now commonplace,  issues like digitization are shaping business plans, and competition from the low-cost part of the world is growing.

The medtech industry in Ireland  influences and reacts to changing market conditions, as they lead in new ways and new product development. The demand in the industry is undeniable, so the future looks bright. Special environmental measures

Over the years, many factors have contributed to the success of the Irish pharmaceutical technology industry. One of the main drivers is the medtech environment well.

It has a diverse network of stakeholders, including international companies, SMEs, indigenous Irish  businesses,  investors,  higher  education institutions and the Irish government through organizations such as IDA, Enterprise Ireland and Skillnet.

This ecosystem encourages, bsupports band supports the key elements for success:

A spirit of innovation, particularly through the growth of medtech R&D in Ireland  to  support  manufacturing.  Collaborative processes, for example through strong links between medical device companies and universities that train the workers of tomorrow.

here is potential for synergy between health technology and medicine  given that Ireland also has  a strong  technology   and  pharmaceutical  industry. The potential for collaboration enables innovation in areas such as digital health and connected devices.

The skills base for Irish medical technology professionals in addition to the growing number of people born outside the country now call Ireland home. Looking to the future, it is clear that healthcare is changing in manyimportant areas. People are aging in many parts of the world and the provision of health care is under increasing pressure. Patient and  employee expectations are also changing, as are the rules governing medtech.

Technology is also driving change, increasing the use of data and technologies using the Industrial Internet of Things (IIoT). There are also areas of change in the sky. This includes industry 4.0 technology and the digitization of work, as well as the growing process of self-organization in health care, where parts of the industry can change from mass production to organizational structure. A challenge

The Irish medtech sector is well aware of the above changes taking place in the healthcare sector and is taking the lead in shaping the future of the industry in many areas.

There are also challenges  to  sustainable  manufacturing in Ireland from low-cost countries.   

The  introduction   of the new EU MDR is also a challenge, although some help may be brought to this due to the recent publication on the amendment of the MDR and the extension of its transition period until the full compliance of marketing tools and MDR requirements from it. 

European Commission

The plan was published on January 6, 2023 and is currently being reviewed by stakeholders. Much of Ireland's success, especially during the high growth period of the 1990s, came from foreign direct investment from US-based multinationals. They came to Europe because the products could be prepared and launched faster than in the US, but they came to Ireland because of the cheaper base. These benefits are no longer available.

Invent, innovate and build on success

There is every reason to believe that Ireland is adapting well to change and challenges, as it continues to innovate and build on its strengths. We can look at recent investment levels as an example of Ireland's continued commitment as a global hub for the medical device industry:

Abbott Ireland is investing $450 million in a new site in Kilkenny that will employ a further 1,000 people, boosting its workforce to 6,000.
Boston Scientific is investing $100 million to expand operations in Galway and increase its workforce by 300 people.

Business leaders are also looking to support Ireland's growth through strategic initiatives. For example, the Irish MedTech Association's 2022 report, Global MedTech Hub 2025, identified four pillars that will drive continued growth:

• Use emotions to create new things
• Talent to thrive
• Preferably through collaboration
• Environmental competition

Innovation, R&D and the development of new products will be key drivers of industry growth as Ireland looks to continue to evolve across the medical device market. After all, the life cycle of a medical device is 18-24 months, after which it is replaced with a better model. He didn't have time to stand still.

Furthermore, there are strong indications that Ireland is moving in the right direction in this area of major planning. For example, per capita, Ireland ranks fifth in the world for the right to health.

Over the next few years, the  focus will be on continuing this effort, while promoting, encouraging  and supporting all stakeholders, including the government.

Ireland's medtech sector is summarized in ten figures:

• 450 - the number of Irish  pharmaceutical  technology                companies.  
• 42,000 - the number of people employed in the Irish health technology industry
• Largest - Ireland is a leading employer of medical device professionals in Europe. Second largest - Ireland is the second largest exporter of pharmaceutical products in Europe.
• 90% - nine of the world's ten largest pharmaceutical device companies have operations in Ireland
• €12.6 billion - the value of Ireland's medical technology exports each year. More than 100 - the number of countries that Ireland exports medical devices to.
• 80% - the number of stents used worldwide are made in Ireland. 50% - the number of ventilators used in major hospitals around the world are made in Ireland.
• First – Ireland is the world's largest exporter of contact lenses.