Innovation Partnership for Medical Device and Associated Companies
R&D Collaboration for Business Success
Background to the Opportunity for Companies
In the last 20 years, the Irish Medical Device and associated sectors have been a major success, showing strong growth in both indigenous and multinational companies.
Among the established subsectors in Ireland are Cardiovascular and Cardiac Rhythm Management, Orthopaedics, Opthalmic and in vitro and in vivo Diagnostics.
While maintaining leadership in manufacturing excellence, Ireland is growing capability in product and service development.
Supporting multinational and indigenous companies to improve productivity, broaden product portfolios, and increase technological diversity are vital activities and the Innovation Partnership Programme is a key means to achieve this.
Trends Driving Innovation
As technologies evolve and markets change, Ireland is striving to maintain and sustain this significant sector. Some of the trends that are driving innovation include:
- The rise of new technologies capable of integrating medical devices into a connected platform enhances the functionality of devise, reduces man power burden, and minimizes errors.
- Due to price sensitivity and availability of floor space, highly specialised pieces of equipment are losing out in purchase decision making to versatile systems capable of addressing multiple needs.
- The amount of health care data being captured due to recent IT infrastructure upgrades is expected to greatly enhance ‘smart’ and AI functionality for diagnostic and treatment device.
- Cost containment initiatives are spurring new types of innovation in medical technologies that provide comparable diagnostic and therapeutic utility at fractions of the cost.
- Improved or highly novel materials/surfaces in medical devices provides the benefits of biocompatibility and functionality at an unparalleled scale, allowing it to be better able to influence diseases.
- Increased collaboration between biopharma, ICT and medical device companies in the area of drug delivery technologies.
Medical Device – Research Capability in Ireland
Ireland has been and continues to invest heavily in research capability that services Medical Device needs. Just some examples of the research capabilities include:
Collaboration supported with Innovation Partnership Funding
Enterprise Ireland’s Innovation Partnership Programme can provide up to 80% of the cost of a research project, to work with the research groups named above and others in Irish research institutions, on a Medical Device or associated project defined by your company, to help your company.
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Innovation Partnership Programme
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