Healthtech sector explores AI’s new era of innovation at Irish Medtech Association conference
The Irish Medtech Association, the Ibec group which represents the sector, will host its inaugural digital health conference Meeting of Minds on 20-30 May.
The digitalisation of healthcare has the potential to revolutionise health with improved health systems and empowered patients. To understand how industry in Ireland can shape the future of healthcare and achieve sustainable growth Meeting of Minds will explore how AI is spurring a new era of innovation.
The conference provides a unique opportunity to hear from the leading digital health experts on the latest global trends, the EU’s policy landscape from the AI Act to the European health data space, sustainable market access, and scaling digital health innovation to reach patients.
Dr Sinead Keogh, Ibec head of sectors and director Irish Medtech Association, said: “Ireland’s healthtech sector is world-class. The medtech, digital health, and biopharma sectors stand out already as major investors with more than 700 companies operating here across the country, employing 89,000 people directly, and making a global impact with exports in excess of €120 billion.
“Internationally, the life sciences sector is forecast to reach €730 billion by 2025, with the digital health segment estimated to grow at over 17.4% between 2021 and 2027 to €426 billion,” she said.
“Cross-industry convergence is on the rise and Ireland is well placed to take the lead thanks to the depth and breadth of our healthtech ecosystem. However, to sustain our hard-won competitiveness we are calling on the Government to establish a national strategy for healthtech to be led by Department of Enterprise, Trade and Employment to leverage the significant investments which have been made across both the public and private sector.”
Dr Keogh added: “Europe is the world’s second largest medtech market worth €150 billion, and spanning 34,000 companies which employ more than 800,000 people.
“An incredible 95% of these businesses are SMEs, which is why we are proud to host a special session on how ‘Irish Founder-Led Enterprises Transforming Healthcare Globally’. Our startups are addressing unmet clinical needs to transform lives nationally, and internationally, these businesses have attracted attention from investors with €86 million raised since 2022.”
Ciara Finlay, Irish Medtech Association senior executive said: “In Ibec we have already mapped out 200 organisations working in digital health across our world-class ecosystem with key areas of strength including digital therapeutics, digital imaging to inform clinical decision making, along with remote monitoring. Our vision is to enable Ireland to become a recognised global hub for digital health, where companies can develop and commercialise products, as well as attract projects and investments. Over the past 18 months confidence in Ireland as a location to do business in this sector has been clear with FDI multinationals announcing more than €1 billion in investments and 3,430 jobs.”
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