Every year, over €13 billion is exported to over 100 countries by Ireland’s medtech business. This makes it Europe’s second-largest medtech exporter, trailing only Germany. Medical equipment account for about 10% of all Irish exports. Europe’s premier cluster of medical devices companies is based in the Galway region of Ireland.
Some examples include:
- Four out of five of stents used worldwide are produced in Ireland.
- Half of the ventilators used in acute hospitals worldwide are produced here.
- More than 30 million people with diabetes use injectable devices made in Ireland.
Ireland is one of the top six global medtech hubs, competing with Minnesota, Massachusetts and California in the US and Israel and Germany. The export prowess of Irish healthcare companies was recently proven when more than 20 home-grown companies visited the Arab Health Expo in Dubai, where Enterprise Ireland organized more than 200 meetings between companies and buyers. The number of Irish healthcare enterprises targeting the region increased by 40 percent. Ireland is also the largest medtech employer per capita in Europe, with 45,000 people employed in the sector, and one in five of those working in the sector are employed directly by Irish-owned medtech companies.
Ireland’s medtech sector has grown exponentially from 50 companies 20 years ago to 350 today. Over 200 of these 350 companies are Irish medtech companies. 18 of the world’s top 20 medtech companies have operations in Ireland. The two companies in the world’s top 20 who do not operate here are Olympus Corporation, with its headquarters in Japan and Terumo Medical Corporation, also headquartered in Japan.
Infographic. Top 20 Medical Device Companies Based on 2020 Revenue, https://pharmashots.com/5263/top-20-medical-device-companies-based-on-2020-revenue.
Below is an example of an Irish medical technology company that are focused on export and enjoying significant global success:
Aerogen is the world’s leading medical device firm, specialising in aerosol medication delivery systems design, manufacture, and commercialisation. Its innovative palladium vibrating mesh technology, Aerogen Vibronic®, transforms liquid medication into a small particle mist, delivering pharmaceuticals to critically ill patients’ lungs softly and effectively. With HQ in Ireland, offices the United Kingdom, Germany, the United States, the Middle East, Asia, and India, the corporation has a significant international presence.