Industry leaders from household name American medical devices giants such as Boston Scientific, Medtronic and Stryker are in NUI Galway later this week to address a major symposium for Irish companies.
The event on Friday, 15 June, organised by Enterprise Ireland and NUI Galway, will provide first-hand advice on ‘Winning Business in the US Medical Device Market’ from US industry experts, while over 80 individual buyer meetings have also organised between the US representatives and the Irish companies in attendance.
Boston Scientific, Medtronic, Terumo, Stryker, Arsenal Medical, Sapheon and MedCelerate are among the US companies presenting at the event. Irish companies, Aerogen and Vistamed, will also give their insights into how they successfully sell into the US market.
In Ireland, the medical technology sector employs over 25,000 people in over 250 companies, with exports of over €7.2 billion per annum which continues to grow year-on-year. With fifty percent of the Irish medical technology company base now composed by indigenous firms, the importance of the US - the largest medical technology market in the world – is critical to their success.
Speaking in advance of the event, Dr Emer Mulligan, Head of the JE Cairnes School of Business and Economics at NUI Galway, said: “In terms of innovation, research and development, Ireland has a proven pedigree in the med tech sector. However, there are many business aspects to cracking the US market - from procurement, to personnel, to legal issues, regulation and business culture - that must be appreciated. At this unique event, we hope to provide these invaluable business insights that will ultimately open doors in the US and enhance the success of Irish companies.”
Gerry Murphy, Enterprise Ireland’s Americas Director, added: “The US Med Device sector is undoubtedly the most important med device sector worldwide, valued at $127 Billion per annum and expected to reach over $151 Billion by 2015. This is a really practical way for Irish medical device companies to learn from US experts and proven Irish companies about how best to be successful in the world’s main market.
“Apart from the strategy and technical mentoring on offer, this event provides an opportunity for these Irish firms to meet executives and buyers in individual meetings. We expect business partnerships to begin at this event that will ultimately lead to increased exports.”
