Lenihan highlights resilience and buoyancy of Ireland’s Medical Devices Industry to Ireland’s Smart Economy
'Medical technology industry employs 25,000 people in Ireland and generates sales in excess of ¤6 Billion annually' - Lenihan
Mr Conor Lenihan T.D., Minister for Science, Technology and Innovation, has today (Thursday, October 1st 2009) described Ireland’s medical devices industry as “a key driver and fertile source of innovation towards the development of Ireland’s Smart Economy”.
Minister Lenihan was addressing a joint Irish Medical Devices Association/ Science Foundation Ireland forum in Galway. The event, which was attended by over 100 people, provided an opportunity for SFI researchers to showcase their work to medical device companies based in Ireland given the strategic importance of the sector to the Irish economy.
Minister Lenihan said: “The global medical technologies industry is valued at $280 billion and has been growing by approximately 7% per annum. In Ireland this industry generates sales in excess of ¤6 billion annually and employs over 25,000 people. Clearly the resilience and buoyancy of Ireland’s medical devices industry is something to which other sectors in the economy can look for guidance and inspiration. The pioneering research and range of market-leading products being generated within the medical devices sector represents a beacon for economic recovery and a boost for Ireland’s international standing".
The Minister was commenting following the release earlier this week of data by the Irish Exporters Association which show that exports of pharmaceuticals, chemicals and medical devices are defying the global recession with a 11% growth level in the first 6 months of the year compared to the same period in 2008.
The Minister added “Ireland’s expanding research base and commercial productivity has been formidable in the area of medical devices for a number of years now, and our reputation in this sphere continues to be enhanced through the collective efforts of industry and, importantly, bolstered by the growing research capacity supported by Government investment through SFI.
“In order to initiate and implement a programme of economic rejuvenation, Ireland needs to maintain its competitive advantage in specialised areas such as this” Minister Lenihan concluded.
ENDS/IP119
For further information, please contact
Alva O'Cleirigh, Communications Manager, SFI, +353 1 607 3249 / + 353 87 9152553 or Carl Gibney, Fleishman-Hillard +353 1 6188428 / + 353 86 045955
Notes to the Editor
- The global medical technologies industry is valued at $280bn and has been growing by approximately 7% per annum.
- The Medical Devices sector has had a strong presence in Ireland for 40 years, over 140 medical technology companies and nine of the worlds top 10 medical devices companies are now located here.
- Ireland is now globally recognised as leading location for the development and manufacture of medical technologies. The industry employs over 25,000 people in Ireland generating sales in excess of ¤6bn annually.
- Ireland now has the highest per capita employment of medical technology personnel in Europe.
- In 2008, the Lifesciences sector in Ireland had sales of ¤800m, exports of ¤650m, and employment of approximately 5,000 people.
- Figures released this week by the Irish Exporters Association indicate that exports of pharmaceuticals, chemicals and medical devices are defying the global recession. The life sciences sector now accounts for 56% of merchandise exports from Ireland and has increased by 11% in the first six months of the year compared with the same period last year.
- The Irish Medical Devices Association (IMDA)is the business association within IBEC for the Medical Devices and Diagnostics sector in Ireland. IMDA aims to promote and support an environment that encourages the sustainable development and profitable growth of multinational and indigenous medical device and diagnostic companies
- The medical device industry in Ireland is currently changing from being prominently manufacturing to being more complex and driven by R&D.
- At the same time a large number of Science Foundation Ireland funded scientists and research consortia are performing internationally competitive research in fields of interest to medical device companies, such as sensor technology, lab-on-a-chip devices, optics and bioengineering.
- 12 SFI supported industry focused research groups from NUI Galway, the University of Limerick, Tyndall National Institute at UCC, University College Dublin and Trinity College Dublin showcased their work to key medical devices companies at the event on Thursday morning (1st Oct) in Galway.
ENDS//
Last modified: 01/10/2009
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