Israel Pharmaceuticals & Healthcare Report

Published 06 February 2015

  • 135 pages
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$1,295.00
Israel Pharmaceuticals & Healthcare Report

BMI View: Israel offers an attractive pharmaceutical market , with the government committed to developing the public healthcare system . An improving intellectual property regime and high penetration of patented medicines will be seen as positive by innovative drugmakers. Risks to our outlook include political uncertainty and the fiscal defici t, which pose a risk to the government's planned healthcare expenditure.

Headline Expenditure Projections

  • Pharmaceuticals: ILS7.51bn (USD2.10bn) in 2014 to ILS7.82bn (USD2.06bn) in 2015; +4.16% in local currency terms and -1.9% in US dollar terms.

  • Healthcare: ILS78.62bn (USD21.98bn) in 2014 to ILS83.62bn (USD22.01bn) in 2015; +6.4% in local currency terms and +0.1% in US dollar terms.

Ri sk/Reward Index

The Israeli pharmaceutical sector boasts a number of key qualities. These include a largely urbanised population and a significant pensionable proportion. However, we highlight weak intellectual property (IP) laws and long drug approval times as severe hindrances to multinational drugmakers maximising their returns in the market. In BMI's Pharmaceutical Risk/Reward Index (RRIs) matrix for Q215, the country scores 54.3 out of 100, a decrease from its score in the previous quarter of 55.8. This makes it the fifth most attractive market for pharmaceutical investment in the Middle East and Africa (MEA) out of 31 countries analysed.

Key Trends And Developments

  • In November 2014, the Health Ministry announced that it planned to reduce funding for AIDS prevention in Ethiopia from January 2015.

  • It the same month, it was announced that the Ministries of Health and Finance are working on a plan to force Israel's largest private hospital chain to dedicate its services exclusively to the public healthcare system

  • In December 2014, the Health Ministry announced it will allocate ILS100mn (USD25.6mn), roughly a third of the budget for additions to the 2015 health basket, to medicines for the treatment of hepatitis C. 73...

Table of Contents

BMI Industry View
7
SWOT Analysis
10
SWOT
10
Political
12
Economic
13
Business Environment
14
Industry Forecast
15
Pharmaceutical Market Forecast
15
Table: Pharmaceutical Sales, Historical Data And Forecasts (Israel 2010-2018)
16
Healthcare Market Forecast
17
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Israel 2010-2018)
18
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Israel 2010-2018)
18
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Israel 2010-2018)
18
Prescription Drug Market Forecast
19
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Israel 2010-2018)
22
Patented Drug Market Forecast
23
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Israel 2010-2018)
24
Generic Drug Market Forecast
25
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Israel 2010-2018)
26
OTC Medicine Market Forecast
27
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Israel 2010-2018)
28
Pharmaceutical Trade Forecast
29
Table: Pharmaceutical Trade Data And Forecasts (Israel 2012-2018)
30
Table: Pharmaceutical Trade Data And Forecasts local currency (Israel 2012-2018)
30
Other Healthcare Data
31
Key Risks To BMI's Forecast Scenario
32
Macroeconomic Forecasts
33
Economic Analysis
33
Table: Economic Activity (Israel 2009-2018)
38
Industry Risk Reward Ratings
39
Middle East & Africa Risk/Reward Ratings
39
Israel Risk/Reward Ratings
46
Reward
46
Risk
47
Market Overview
48
Industry Trends And Developments
49
Epidemiology
49
Communicable Diseases
50
Healthcare Sector
50
Healthcare Insurance
51
Healthcare Coverage Developments
52
Healthcare Financing
53
Healthcare Infrastructure
54
Research And Development Sector
55
Table: Israel's R&D Legislation - Conditions For OCS Funding
56
Clinical Trials
58
Clinical Trial Developments
59
Biotechnology
62
Regulatory Development
65
Regulatory Developments
65
Intellectual Property
66
IP Environment Shortcomings
67
Pricing System
69
Table: Price Build-Up In The Israeli Pharmaceutical Market
70
Reimbursement System
70
Reimbursement Developments
72
Competitive Landscape
73
Pharmaceutical Industry
73
Domestic Pharmaceutical Industry
73
Foreign Pharmaceutical Industry
74
Pharmaceutical Company Developments
74
Pharmaceutical Distribution Sector
81
Pharmaceutical Retail Sector
81
Company Profile
82
Teva Pharmaceutical Industries
82
Taro Pharmaceutical Industries
94
Perrigo (Adis Industries)
98
Dexcel Pharma
102
Neopharm Group
105
Trima
108
Rekah Pharmaceutical Industry
110
Pfizer
112
GlaxoSmithKline
115
Novartis
117
Sanofi
119
Merck & Co
121
Demographic Forecast
123
Table: Israel's Population By Age Group, 1990-2020 ('000)
124
Table: Israel's Population By Age Group, 1990-2020 (% of total)
125
Table: Israel's Key Population Ratios, 1990-2020
126
Table: Israel's Rural/Urban Population Split, 1990-2020
126
Glossary
127
Methodology
129
Pharmaceutical Expenditure Forecast Model
129
Healthcare Expenditure Forecast Model
129
Notes On Methodology
130
Risk/Reward Ratings Methodology
131
Ratings Overview
132
Table: Pharmaceutical Risk/Reward Ratings Indicators
132
Indicator Weightings
133

The Israel Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Israel Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Israel pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Israel, to test other views - a key input for successful budgeting and strategic business planning in the Israeli pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Israeli pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Israel.
  • Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

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.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc