The Medical Technologies sector is a well-functioning eco-system in Ireland and continues to demonstrate strong growth potential. High value opportunities (e.g. combination products, technologies for independent living) are being driven globally by advances in science and technology and convergence, particularly with pharma and ICT. Companies are challenged with demonstrating increased product efficacy and achieving high quality standards while facing downward price pressures from procurers.
To realise opportunities and future investment by foreign and Irish firms, Ireland needs to prepare for more complex production by embedding operational excellence across the entire business and by embedding real time analytics capabilities. Firms need to enhance capabilities in product and engineering design, as well as in innovation in product, process, materials and packaging. Contract manufacturing operations (CMOs) need also to further develop capabilities to offer leading edge technologies, the ‘flexible factory’ and to engage as strategic partners. Sub-suppliers need to keep abreast of the changing dynamics, technologies and materials relevant to the medical devices sector and to innovate to provide relevant solutions.