BMI View: Israel represents one of the most attractive medical device markets in the region, valued at USD1,128.1mn in 2014, equal to USD144 per capita. Strong trade relations with the USA facilitate medical device imports and exports, while Israel is also a very dynamic market in terms of medical device start-ups. We expect the market to expand at a CAGR of 5.6% in US dollar terms during our forecast period, taking the total to USD1,478.7mn by 2019, or USD176 per capita.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We maintain our forecast that the market will grow at a 2014-2019 CAGR of 5.6% in US dollar terms, slightly slower than during the previous five-year period when a 2009-2014 CAGR of 7.8% was recorded and increasing the market value from USD1,128.1mn in 2014 to USD1,478.7mn in 2019. Market growth will be driven by continued public investment in the health sector.
We expect the sluggish medical device import performance witnessed in 9M15 to continue in the short term as the US dollar remains strong by comparison to the Israeli shekel. Imports decreased by 6.7% in US dollar terms in the three months to October 2015.
We expect the recent downturn in export performance to be short-lived and a return to solid growth over the coming months, benefiting from accelerating economic growth in Israel's main trading partners, particularly the USA. Exports contracted by 6.0% in US dollar terms in the three months to October 2015.
The Health Council approved the updated health service basket for 2016, which includes 83 medicines and technologies. The Health Council also called for regular increases to the amount of funds at the disposal of the medical services committee for future years, which we note would provide a boost to the med tech market.
The Israel Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Israel provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Israel Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Israel, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Israel.
- Target Business Opportunities in the Israel Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Israel.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.