Irish pharmaceutical sector made €47.7 BILLION of goods in 2018 as figures show pill plant profits are healthy
10 September, 2019
Medicines for insomniacs, asthmatics, diabetics, and transplant recipients are a selection of the vast array of medical marvels manufactured on Irish soil. According to the latest CSO figures, the pharmaceutical sector produced more than €47.7billion in goods last year — up more than seven per cent on the previous year’s tally of €44.5billion. The sector dominates its production rivals and accounts for 39 per cent of Ireland’s manufacturing landscape. Ireland’s pharma industry is worth double that of the next largest industrial production rival — food products — which produced just €23.5billion.
In 2014, Ireland was the seventh largest exporter of medicinal and pharmaceutical products in the world, and two dozen of the of the world’s top 25 pharmaceutical companies now call Ireland home.
Ireland has also established itself as a medical technology hub with nine of the top ten global medical tech firms settling here.
We have grown into the second largest exporter of medtech products in Europe, with those products bringing in €12.6billion a year in exports alone.
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