Ireland has established itself as a global hub for the medtech sector, with many of the world’s leading companies choosing to locate here, while a thriving indigenous sector has also established itself over the past two decades.
The Republic’s much-envied medtech ecosystem has evolved over 50 years, galvanised by the establishment of significant bases by US multinationals during the 1990s. The statistics now speak for themselves – almost 50,000 people in the State are working in the medtech industry in more than 300 companies and Ireland is home to 14 of the top 15 global medtech firms, including world leaders such as Stryker, Medtronic, Abbott and Boston Scientific.
Known for high-volume manufacturing of advanced products such as drug-delivery systems, stents and orthopaedic implants, the Republic is also the second-largest exporter of medical devices in Europe, with current revenues of $14.9 billion (€12.9 billion), accounting for 8 per cent of the State’s total exports.
Maintaining such an impressive growth trajectory is not a given, however; the medtech sector, like many others, finds itself vulnerable to challenges such as digitalisation, the advent of AI and widespread skills shortages.
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Maurice Collins is a professor in materials science and head of research and innovation in the School of Engineering at the University of Limerick. He is unequivocal when it comes to Ireland’s stellar reputation in the medtech sector and our ability to attract and retain the biggest names in the industry.
“Ireland is the largest employer of medtech professionals per capita in Europe, with more than 48,000 people working in the sector and growth forecast to reach 56,000 by 2028,” Collins points out, adding that many medtech multinationals are also heavily involved in research and development (R&D) in the State. “Innovation is accelerating through digital transformation, AI integration, and full-service production capabilities.”
Eoghan Cunnane, associate professor in biomedical engineering at UL, says the close links enjoyed between industry and academia in the Republic greatly enhance its international reputation as a hub of medtech innovation.
“Through industry-matched funding alongside national research support, industry is gaining access to the state-of-the-art equipment, facilities and expertise available at our academic institutions and national research centres,” he says. “This collaboration enables research that is both unique and internationally competitive, positioning Ireland at the forefront of innovation in numerous medical related fields.”
Academic-industry project outputs also hold potential for commercial development, with a rich pipeline of intellectual property, which Cunnane says ultimately leads to the creation of new technologies and employment opportunities within the industry. “Overall, these strong industry-academia links significantly elevate Ireland’s global standing as a hub for cutting-edge, collaborative research.”
But Collins notes that Ireland’s medtech sector faces mounting challenges that could hinder its continued growth and global competitiveness. Talent shortages remain a serious threat, particularly in regulatory affairs, digital manufacturing and advanced R&D roles, while rising labour and raw-material costs, along with housing shortages, are putting pressure on SMEs and affecting staff retention across the sector.
Infrastructure limitations, including access to modern facilities and digital tools, are also slowing innovation adoption. Compounding this is increasing regulatory complexity and demands for sustainable approaches in manufacturing and supply, creating bottlenecks for product development and market entry.
With the value of the global medtech market projected to reach $857 billion by 2033, addressing these challenges is of critical importance.
“To maintain its leadership, Ireland must invest in a targeted workforce through intensifying industry-led training and investment in academic partnership, with a particular emphasis in supporting level-10 PhD qualifications whilst supporting apprenticeship programmes, promoting lifelong learning and advancing gender leadership in manufacturing,” Collins says.
“Strengthening digital infrastructure and incentivising smart-manufacturing adoption while leveraging AI to enhance efficiency and productivity will be key to scaling innovation, and enhanced collaboration between government, academia and industry is needed to streamline translational research and strengthen the pipeline of talent that transfers from academia to industry.”
Ireland should also expand its global outreach to attract investment, with particular emphasis on the European Union’s €200 billion investment fund and position itself as a test bed for next-generation medtech solutions, he adds.
“Despite these hurdles, Ireland continues to attract global medtech investment due to its regulatory expertise, manufacturing excellence and strong R&D base,” he says. “Sustained policy support will be critical to maintaining Ireland’s competitive edge in this high-value, innovation-driven sector. With co-ordinated strategic action, Ireland can reinforce its reputation as a high-value, innovation-driven medtech hub.”
