Irish life sciences and health tech companies raised €491.3m across 89 venture capital deals in 2024, including 80 deals for Enterprise Ireland-backed firms.
Globally, life sciences and health tech venture activity remains below 2021 peak levels, but Ireland delivered its strongest year ever while seeing late-stage and venture-growth deals increase to 46% of total volume.
This year has seen FIRE1 achieve a $120m megadeal, one of the largest health tech rounds in Europe this year.
Enterprise Ireland emerged as the world’s most active life sciences and health tech investor in 2024, participating in 60 deals and playing a pivotal role in driving the countest’s record performance.
Ireland now hosts over 700 life sciences and health tech firms, including over 400 home-grown companies alongside nine of the world’s top 10 medtech multinationals.
The sector employs more than 100,000 people and generates €16bn in annual medtech exports, representing 14% of Ireland’s total exports.
In addition, €298m from the €500m Disruptive Technologies Innovation Fund has already been awarded to 68 health and wellbeing projects.
“At a time when global life sciences and health tech funding has contracted dramatically, Ireland has produced a very strong performance and continues to attract large-scale growth capital from investors in Ireland and internationally,” declared Cepta Duffy, head of life sciences and health tech at Enterprise Ireland.
“This report confirms our ecosystem is not just resilient – it is thriving and maturing, ready for its next phase of global leadership.”
Photo: Cepta Duffy. (Pic: Supplied)
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