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Irish medical devices industry on a high

Wednesday, September 03 12:57:23

Confidence is high and continuing to grow in the Irish medical devices sector with the prospect of significant jobs growth, the Irish Medical Device Association (IMDA) said today.

Its survey of the sector found that 42pc of companies expressing more confidence in their business than they did three months ago and 55pc remain equally confident.

Nearly, half the companies surveyed (47pc) said that they expect to hire new staff and 34pc expect to increase investment in R and D in the coming three months.

The release of the survey results coincide with the launch of the Medical Technology Industry Excellence Awards 2014 - 2015.

The 2013 Overall Medical Technology Company of the Year award winner Aerogen CEO John Power, said "It was an honour for Aerogen to be recognised as the Medical Technology Company of the Year. As an Irish owned company we are immensely proud of the fact that our life saving products are sold in over sixty countries around the world and that today Aerogen is a recognised global brand leader in acute-care aerosol drug delivery”.

IMDA Director Sinead Keogh, said the sector is in expansion mode.

"The confidence levels outlined show that the medtech sector is focussed on the future, on innovation and on expansion. The sector already employs 25,000 people in Ireland and has annual exports worth E8 billion. We are now looking for companies to tell us their story by entering the medtech awards and promote best practice across the industry," he said.

IDA Ireland Head of Medical Technologies Andrew Vogelaar added that: "The Life sciences sector has publically announced over E750 million in investment in the last three years. The awards offer a fantastic opportunity for both multinational and Irish indigenous companies to display their latest products and services on an international scale.”

Enterprise Ireland Manager Manufacturing and Competitiveness Tom Kelly, said "The sector involves intense collaboration between manufacturing companies, academic institutions, clinicians and government agencies. IMDA's survey showed that 71pc of medtech companies believe collaborative research initiatives are beneficial to their business. The Medical Technology Academic Award, promotes interaction between companies and academic institutions."

For more, visit www.businessworld.ie