The Irish Medtech Association, the Ibec group that represents the sector, today announced the finalists for the Irish Medtech Awards to be held in Galway, 6-7 December. The ceremony, jointly hosted by the Irish Medtech Association, Enterprise Ireland and IDA Ireland, recognises and celebrates companies that have played a leading role in making Ireland a location of choice for global medtech.
Acting Irish Medtech Association Director Eoghan Ó Faoláin said: “With global medtech growth of 5.1% forecast annually to 2022, the medtech industry should be a strategic priority for Ireland. Over the past three years, Ireland has consistently been the fastest growing economy in the EU, with growth of 4.2% for 2017 and 3.2% in 2018, but it faces a number of challenges such as Brexit.
“The reason Ireland is in a position to compete with major medtech hubs such as Massachusetts and Minnesota, is thanks to the diversity of the sector here and the collaborative innovation that takes place on a regular basis between Irish SMEs, FDI multinational companies, and top universities, as well as other strategic sectors such as ICT, design and manufacturing”.
Dr Ó Faoláin continued: “Ireland’s international reputation as one of the top five global hubs means that people travel from across Ireland and internationally to attend Medtech Rising: The Irish Medtech CEO Conference and Awards, 6-7 December, in Galway. After a number of major merger and acquisitions, as well as divestments, Ireland is now home to nine of the top ten medtech companies, which boast €12.6 billion in exports. With Ireland ranked first for labour productivity, flexibility of talent, as well as attracting and retaining talent, it’s no surprise that medtech growth is underpinned by job creation, with 38,000 people working in the sector now and an additional 4,000 jobs to be added by 2020.
“This growth is expected to continue, with business confidence high and more than one in two business leaders saying they were more confident now, and eight out of ten rating their business as good or very good in the latest Irish Medtech Businesses Sentiment Survey. The Irish Medtech Award finalists are exemplars of this success and ambition and we are delighted to celebrate their achievements.”
Enterprise Ireland Director Lifescience & Food Commercialisation and Manager, Lifesciences Sector Deirdre Glenn said: “The medtech sector is of key importance to the Irish economy, with 7% growth in medtech exports in 2016. Approximately 250 Enterprise Ireland client companies are working in the indigenous medtech sector, reporting €600m in sales, €400m in exports and directly employing around 6,500 people. We will continue to work with these companies as they transform themselves through innovation, supporting their global ambition as they scale in world markets and to celebrate success stories through Medtech Rising: The Irish Medtech CEO Forum and Awards”.
IDA Ireland Head of Life Sciences, Engineering and Industrial Technology Division Michael Lohan said: “It’s clear from the list of finalists that Ireland is a ‘one-stop-shop’ for medtech with everything you need to take medical technology from concept to market here. We’re not only the second largest exporter of medtech products in Europe, but the number one location for medtech FDI. The Irish Medtech Awards are great way to celebrate the sector’s achievements and bring people together.”
The diversity of the Irish medtech sector is reflected in the six award categories of the awards, and the shortlist which is:
Medtech Company of the Year
Abbott Diagnostics Longford
Baush + Lomb, Ireland
Emerging Medtech Company of the Year
Academic Contribution to Medtech Award
Centre for Research in Medical Devices (CÚRAM)
Centre for Advanced Photonics and Process Analysis (CAPPA) and EnteraSense Ltd
MET Technology Gateway
eHealth Innovation of the Year
Medtech Partner/Supplier of the Year
MGS Mfg. Group Ltd (Ireland)
Best European Medtech Week Campaign Award
Cook Medical Europe