Ireland ‘must seize’ chance in €475bn medtech market

Ireland must seize opportunities in the health technology sector, which is estimated to be worth €475bn globally by 2018. However, threats from Brexit remain on the horizon, according to the body representing the sector.

Health technology, also known as medtech, is said to encompass any technology that is used to treat and save human lives. It incorporates diagnosing, treating and monitoring of patients ranging from hearing aids to body scanners and pacemakers.

The Irish Medtech Association (the Ibec group that represents the sector), Enterprise Ireland, and IDA Ireland are hosting a conference on medtech potential in December, and said Ireland’s position as one of the main arteries of medtech in the world meant further opportunities had to be explored.