Concerns about talent access and growth in Irish medtech sector, with focus on workforce development.

From Yahoo Finance: 2025-03-24 09:09:00

A report on Ireland’s medical device manufacturing sector highlights concerns over access to skilled workforce, economic uncertainties, and sector growth. 63% cited attracting and retaining quality workforce as a challenge. 33% viewed weaker global growth as a major challenge. Businesses focus on expanding and entering new markets. 54% integrate AI initiatives, with the EU’s €200bn investment seen as an opportunity.

Irish Medtech director Eoghan Ó Faoláin calls on the government to focus on health, patient access, enterprise, innovation, sustainability, and talent pillars for sustained growth. The sector in Ireland competes with US hubs and manufactures a significant portion of global medical devices. Abbott and GE Healthcare have recently invested in manufacturing facilities in Ireland, contributing to the sector’s growth.

The medical devices workforce in Ireland is projected to reach 56,000 by 2028, with a forecasted contribution of $1.76bn to the economy by 2029. Potential trade tariffs from the US could have a significant impact on the Irish economy, with projections showing a decline in GDP and MDD if tariffs are imposed. Protectionist policies may pose risks to the Irish economy and public finances.

The report highlights talent access and growth as major concerns in the Irish medtech sector. Irish Medtech director Eoghan Ó Faoláin calls for strategic alignment with EU initiatives, investment in AI-driven technologies, and workforce development for long-term growth.

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