Irish Medtech Association outlines global healthcare agenda strategy
The Irish Medtech Association has launched its four-year strategy, which sets out the strengths of Ireland’s global medtech hub, and how it can use these to achieve its potential to transform healthcare across the world while growing in Ireland.
Titled The Global Medtech Hub 2025: Dedication to the expected, the unexpected and everything in-between, the strategy outlined a vision for the future of the medtech industry in Ireland
In developing the strategy, the Ibec group which represents the medtech sector conducted extensive research with both national and international experts to inform our strategy, setting out a roadmap for Ireland to achieve its potential as we prepare to enter a new era in global healthcare development and delivery.
“In so doing, we identified five global ‘game changers’ with key trends impacting the industry in the areas of health needs, customers’ expectations, disruptive healthtech, increasing convergence, set against the backdrop of changing international dynamics,” said Irish Medtech Association director Sinead Keogh. “We have developed a new vision for the industry in Ireland to be strongly positioned as a global leader in innovative patient-centred medical technology solutions, helping to set the future global healthcare agenda, with a proven ecosystem that is a major contributor to the economy.”
“The Irish medtech industry has achieved tremendous growth since the launch of our last strategy in 2016 when the industry spanned 400 companies, with 27,000 people working in the sector and €8.5 billion in exports,” added Tom Clarke, West senior director, and outgoing Irish Medtech Association chair. “Now thanks to our proven track record, competitive ecosystem, access to world class talent, and industry leadership we are ready to demonstrate greater ambition guided by our strategic pillars of, innovation with impact, talent to thrive, competitiveness of our ecosystem, and excellence through collaboration.”
Incoming Irish Medtech Association chair and TE Connectivity SVP and general manager medical Pat Duane said: “The medtech industry’s role in saving and transforming lives has been further highlighted by the global pandemic. Ireland is already recognised as a global medtech hub, with 450 companies employing 42,000 people to deliver €12.6 billion in medtech exports making an impact across the world. Now as we look to the future, we believe that with the right supports, and policies in place, Ireland can shape the future of healthcare and take a greater share of the global market forecast to grow 5.6% annually with sales to reach €530 billion by 2024.”