Strong growth within the medtech industry is driving further investment and job creation That’s according to a new survey published today by the Irish Medtech Association, the Ibec group that represents the sector, to mark the launch of the Irish Medtech Awards which are jointly hosted with Enterprise Ireland and IDA Ireland.
The results of the Medtech Business Sentiment Survey reveal that more than 8 out of 10 medtech industry leaders believe that the business environment in Ireland was good or very good, with two thirds saying that they intend to hire new people, with an expected 39,000 people working in the industry by 2020.
The Irish Medtech Awards celebrates the strength and innovation of the sector in Ireland. Since Baxter won the first Medtech Company of the Year award 10 years ago, the industry has transformed from traditional to hi-tech manufacturing. Ireland is internationally recognised for its ability to manage ‘lean’ businesses, with productivity expected to increase in the coming months according to 85% of our survey responders. A strategically important growth area is the continued investment in R&D with nearly half of business leaders (45%) expecting to invest more in the next 6 months.
One area of innovation where Ireland is leading internationally is connected health, with half of medtech companies here having connected health products, solutions and services as part of their business offering. Moreover, one in five of these companies are planning to invest in new products and talent with a quarter of them seeking to invest in new technology. That’s why the eHealth Innovation Award is so important to recognise the progress being made to grow businesses and drive improvements in more personalised, patient care.
Applications to the Irish Medtech Awards can be made online at www.irishmedtechassoc.ie/awards the closing date is Friday 22 September.
To reflect the depth and and breadth of the Ireland’s internationally recognised medtech sector there are now six award categories:
•Medtech Company of the Year
•Emerging Medtech Company of the Year
•Academic Contribution to Medtech Award
•eHealth Innovation of the Year
•Medtech Partner/Supplier of the Year
•Best European Medtech Week Campaign Award
Thank you to our sponsors: Platinum Sponsors, KPMG; Gold Sponsors, Bemis, Creganna and Teleflex; Silver Sponsors, Anecto, Arthur Cox, CRI Medical Devices, Hanna Moore + Curley and the Irish Medtech Skillnets.
Source: Irish Medtech Association