Israel's Scientific Ethos Driving Pharma Industry Value Beyond $2.3 Billion by 2020

Israel’s pharmaceutical market value will increase from approximately $1.9 billion in 2013 to $2.34 billion by 2020, driven by medical technology advances, high research and development (R&D) expenditure and a robust economy, according to research and consulting firm GlobalData.

Furthermore, the company’s latest report, CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Israel, states that this rise, which represents a modest Compound Annual Growth Rate (CAGR) of 2.8%, will occur in a country with high levels of generic production and pharmaceutical exports.

Israel is home to Teva Pharmaceuticals, which is one of the world’s largest generics manufacturers and exporters. The country’s entire pharmaceutical exports were worth approximately $7.1 billion in 2013, more than four times the value of its imports, which was just over $1.7 billion.

Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, says: “Israel is one of the major healthcare markets in the Middle East.

“Pharmaceuticals represent the largest and most established sector of the Israeli life science industry, with a total of 76 companies, of which 22% are involved in drug discovery and 17% in drug delivery.”

The director adds that this commitment to scientific development is fortified by a highly skilled population, with Invest in Israel highlighting that the country is ranked second in the world for percentage of engineers and scientists in the workforce.

Owide continues: “Approximately 24% of Israel’s workers hold university degrees, placing it third among the industrialized countries, after the US and Netherlands.

“Israel’s pharmaceutical sector is supported by a network of recognized academic and research institutes, R&D facilities, and well-developed medical centers. Indeed, Israeli research expertise and clinical advances have led to the development of blockbuster drugs and promising treatments.”

Such products include Johnson and Johnson’s Doxil for ovarian cancer, which was originally developed at the Hadassah Medical Center, as well as Teva Pharmaceuticals and the Weizmann Institute’s Copaxone for multiple sclerosis, and Novartis’ Exelon for Alzheimer’s disease, originating from research conducted at the Hebrew University.

*CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Israel

This report provides information on the Israeli healthcare, regulatory and reimbursement landscape. The report also evaluates the pharmaceutical and medical device markets, including profiles and SWOT analyses of the major players in each of these segments, plus an overview of the opportunities for and challenges to growth in Israel’s healthcare market.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.

GlobalData is a leading global research and consulting firm offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.

For more information, please contact our Press Office on +44 (0)1204 543 537 or at pr@globaldata.com.

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