Our editor Laura Hughes discusses why Ireland is such a hotspot for medtech.
Earlier this month I was given the opportunity to tour some of Ireland’s medtech hotspots as part of a trip hosted by Enterprise Ireland - a government organisation which aims to develop and grow Irish enterprises across the global market. Ireland is often thought of as a medtech hub as it is home to 18 of the world’s top 25 medical device manufacturers as well as being the second largest country for exporting medical devices in Europe. This makes Ireland the perfect place to learn about medtech.
I travelled to Galway due to the large cluster of medtech companies and industry leaders in this area of Ireland. In case like me you are wondering why the medtech industry is so big in Galway, Paul Anglim, strategic development lead, BioInnovate, one of the world’s largest medical device hubs, explained there was multiple reasons for Galway’s medtech success. He explained how medtech started in the region, and a national networking event is hosted in Galway. Anglim also mentioned the benefits the small community in Galway offers with connections ensured between organisations due to the fact that everyone knows everyone.
My first stop on the way to Galway from Dublin was at Irish Manufacturing Research (IMR) - a company that launched after the crash 10 years ago with funding from Enterprise Ireland. The company’s vision is to enable advances in manufacturing in Ireland. IMR mentioned how they see something unique here in Ireland, where lots of competitors work together to keep the manufacturing process within Ireland. Additionally, IMR has a STEM programme which works in primary and secondary schools and aims to change children’s reputations of manufacturing. I think encouraging younger generations to be interested in the sector will only help to continue the success of medtech within Ireland.
Next I visited BioInnovate, a needs focused company. Anglim recalled multiple success stories where BioInnovate had provided funding. One company was Embo medical, a medical device company who are developing the first true one-shot vascular embolisation device. BioInnovate also focuses its efforts on training people from industry. Anglim commented how anyone with an idea could approach the company and develop the idea regardless of their age and experience.
Across the road from BioInnovate is the Health Innovation Hub Ireland (HIHI) which works across the healthcare sector with Irish businesses in order to solve problems and improve patient care. The HIHI places a special emphasis on encouraging innovation through competitions. The 2019 Enterprise Ireland competitive start up competition was won by Feeltect, a medical device company who produced an adjustable compression device for venous leg ulcers.
To conclude my trip, I headed to Med in Ireland where more than 800 delegates were attending the invite only event. The show began with keynote speeches followed by a panel discussion with industry leaders. Liam Kelly, chief executive officer at Teleflex, commented how demand for medical devices is inevitable for the next 30 years and how he believes it is a truly wonderful time for medical devices.