article banner
Life Sciences

Global trends in the pharma and life sciences industry

Elaine Daly Elaine Daly

Ireland's life sciences industry has grown from very humble beginnings to a position of global significance. The industry's remarkable growth is one of the most impressive Irish success stories and shows no signs of slowing down, with estimates that the sector will create a further 8,400 biopharma and 4,000 medtech jobs by 2020.

Unlike many industries in Ireland, life sciences is truly global in its outlook. In 2016 6% of life sciences sector exports were to the UK, with 42% exported to other EU countries and 52% to the rest of the world, including 29% to the USA alone.

As a player on a global scale, Ireland must seek to identify and anticipate future changes in the global environment and plan accordingly to minimise the threats and maximise the opportunities that those changes will bring.