More than three-quarters of companies operating in the Irish-based medical devices sector have continued confidence in their businesses, a new survey reveals. Outside of Idaho in the US, Ireland has the highest concentration of medical devices companies in the world.
According to a sentiment survey conducted by the IBEC-based Irish Medical Device Association (IMDA), 57pc of companies surveyed outlined continued confidence in the sector up to the end of 2011, an increase of 21pc on the same position 12 months ago.
More than three-quarters (78pc) of companies have continued confidence in their own business up to the end of 2011, a 16pc increase from the start of this year. Reinforcing this, 28pc of those surveyed revealed they have more confidence now in their business in comparison with the previous three months.
“These positive indicators are very encouraging. Ireland’s medical technology sector has evolved into one of the leading clusters for medical device and diagnostic products globally,” Sharon Higgins, IMDA director, explained.
Second-largest exporter of medical products in Europe
“We are the second-largest exporter of medical products in Europe, behind only Germany, with exports climbing over 14pc over the past two years from 2008 to 2010. With over 200 companies involved in developing, manufacturing and marketing a diverse range of products and services, we are delighted to launch the industry excellence awards and begin the search for the 2011 Medical Technology Company of the Year.”
Now in its fifth year, the Medical Technology Industry Excellence Awards are open for entry. Any company that is a member of the IMDA, Enterprise Ireland or IDA Ireland is eligible for entry.
The 2011 Medical Technology Industry Excellence Awards, which are jointly hosted by Enterprise Ireland and the IDA, will take place on 8 December in Limerick. The overall winner will be chosen from a shortlist of entries and will receive a bursary as well as communication support during 2012.