In his first TV interview since the election, the defeated candidate, who was a one-time frontrunner in the polls, said he wanted to concentrate on becoming a father at the moment but had not ruled out running again.
"Who knows?" he said.
"I don’t regret it for a moment because I don’t consider it as a failure. I really wanted to do for enterprise and jobs what Mary McAleese had done for the peace process.
"I got to head the polls a few days out from the election. I think it was a great success albeit the last week didn’t come the way we wanted it."
Mr Gallagher said he was now planning to move to his wife’s home in Cork to start their family after recovering from the presidential race.
"We’re blessed with the good news that we’re going to start a family ... Only in the last couple of weeks she persuaded me to move to Cork. I was born in Monaghan and raised on Cavan and I’ve been living in Louth. I’m now going to end my days in Cork but I am delighted.
"I am back at work in business and looking at a number of projects in the bio-tech sector and some of the IT sectors."
But the TV star, who was leading the race until his Áras hopes were dashed on RTÉ’s Frontline, told how he and his wife went to a monastery to recover from the high-profile election defeat.
"Initially, after the campaign ended we took a week’s retreat in a lovely little Carmelite monastery in Sligo.
"We meditated and prayed and went for walks.
"Ironically I had a wonderful experience (on the campaign) and I met some of the most amazing people. 2,500 people joined my campaign and campaigned every night for me," he said.
* The Meaning of Life with Gay Byrne, will be aired on Sunday at 10.30pm on RTÉ One