An Overview of Ireland s Biomedical Industry!

Mondo Health Updated on 2024-02-21

According to the Statistics Office (CSO), in 2021, the output value of basic pharmaceutical products and preparations was 58.1 billion euros, accounting for 43% of the total industrial output6%, and if we add the chemicals industry related to the pharmaceutical industry (15.1 billion euros), the two industries accounted for about 55% of the total industrial output value for that year. There are about 60,000 employees in the biomedical industry. Driven by overseas demand during the new crown epidemic, the export value of Ai drugs exceeded 60 billion euros in two years, reaching a record 62.1 billion euros and 62.6 billion euros, accounting for nearly 40% of the total export value and nearly 10% of the total global drug exports, becoming the world's third largest pharmaceutical exporter. According to Eurostat, in 2022, the export value of Ai drugs will be 42 billion euros, making it the third largest drug exporter in the EU.

According to the Health Products Regulatory Authority of Ireland (HPRA), Ireland currently has 139 pharmaceutical companies, forming two major industrial clusters in Dublin and Cork, as well as a number of smaller industrial clusters in the surrounding areas of Sligo, Watford and Mayo. The world's top 10 pharmaceutical companies, including Novartis, Abbvie, Janssen, Pfizer, Sanofi, Lilly, AstraZeneca, MSD, Bristol Myers Squibb and Takeda, have manufacturing facilities in Ireland.

In addition to creating a good business environment, using tax incentives to attract large multinational companies to invest in the pharmaceutical industry, we also vigorously support local pharmaceutical companies, encourage them to engage in new drug research and development, and provide technical support and supporting services for large enterprises. Local enterprises are generally small in scale, but have strong innovation capabilities, and multinational companies obtain new technologies through the acquisition of local enterprises, and the two complement each other and develop in tandem.

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