Ireland is now a well-established global leader in MedTech and Biotechnology. Nine of the world’s top ten MedTech companies have a base in Ireland. Indeed, Ireland is one of the top seven employers of MedTech professionals in Europe, with more than 40,000 people currently working in the sector. Furthermore, there are now more than 450 MedTech companies operating in Ireland with over 60% having been developed locally.
In the Biotechnology sector, there are well over 300 companies operating in Ireland. Indeed, all but one of the world’s 25 largest Biotech and Pharma companies have a presence in Ireland. In recent years, capital investment of about $10 billion has been made in new facilities by the BioPharma industry in Ireland. This is believed to represent close to the biggest wave of investment in new BioTech facilities anywhere in the world, according to the IDA Ireland (Ireland’s inward investment promotion agency).
The Biotechnology Innovation Organisation defines Biotechnology at its simplest as technology based on biology – Biotechnology harnesses cellular and biomolecular processes to develop technologies and products that help improve our lives and the health of our planet. Medical Technologies relate to prevention, diagnosis, monitoring, treatment, and care, and often utilise new technologies such as artificial intelligence or machine learning, according to MedTech Europe.
The National MedTech & Biotech Summit, which is being held on 28th - 29th May 2024 at the RDS Simmonscourt, in Dublin, will highlight the key trends and challenges facing the sector, while also showcasing the latest innovations and developments in best practice, and the technological solutions available. The event will focus on the global growth opportunities, as well as major trends such as digital health and the shift to value-based healthcare and the long-term implications for manufacturers and business models.