Israel Pharmaceuticals Market Competition Forecast & Opportunities, 2028

Pharmaceuticals are a group of organic compounds that can be utilized for diagnosis, treatment, or prevention of a disease and for restoring any organic function. Most of the pharmaceutical products are proteins or polypeptides which can either be obtained naturally or can be extracted from genetically modified microorganisms. Generally, these products are delivered to the patients in the solid form such as tablets or aerosols. Israel pharmaceuticals market is ranked as fourth largest supplier of pharmaceutical products in the world due to its high financial investment in research and development (R&D) of pharmaceutical products and impressive international reach. Rising prevalence of various non-communicable diseases especially cancer, diabetes, and cardiac disorders among people of the country is likely to register an impressive growth to Israel pharmaceuticals Market. Government of Israel is developing its focus on conducting more health education programs along with formation of new health insurance policies every year which is influencing people to take proper care of their health and is thereby progressing the pharmaceuticals market in the country. Moreover, growth in geriatric population of the country and various health problems associated with people in their old age is expected to propel the growth of Israel pharmaceuticals market.

Growing Prevalence of Chronic Diseases

Chronic illness is broadly defined as a disease which lasts more than a year and require ongoing medical attention which simultaneously limits the activities of a person in daily life. Chronic diseases such as diabetes, cancer and cardiac disorders are some of the majorly prevailing diseases among the people of the country, accounting for about 20 percent of the total population of Israel suffering from one or more of the selected diseases. It has been observed that cancer is the most prevailing cause of rising death rate in Israel. Every year around 30,000 people get diagnosed with cancer which is the reason behind 25% of the total mortality each year. As per the report published by World Health Organization (WHO) in 2020, it has been observed that total 14,197 cases were reported of cancer in Israel men among which accounted for 3,290 cases of prostate cancer, 1,613 cases of lung cancer, 1,490 cases of colorectum cancer, and so on. Moreover, a total of 14,507 cancer cases were reported in Israel women out of which 4,348 cases were of breast cancer, 1,392 cases of colorectum cancer, 1,029 cases of thyroid cancer, and so on. Various habits such as smoking cigarettes, consuming alcohol, eating unhealthy diet, hypertension, and others are some of the major risk factors which lead to the development of heart diseases in human body. According to the report published by AHA Journal in 2020, it has been observed that cardiovascular disease is the second cause behind mortality and morbidity rate of Israel in recent years which accounts for almost 15% of the total number of deaths per year. Moreover, cardiac disease affects 10.2% of Israeli men and 7.1% of women, with coronary artery disease prevalence of 7.5% and 4.1%, respectively. Diabetes is also one of the most commonly prevailing non-communicable disease in Israel. Among the two types of diabetes, Type 2 diabetes mellitus is more usual than Type 1 diabetes among people of the country. Significant factors which are associated with the growth of Type 2 diabetes in Israel are physical inactivity of people, genetic disorders, obesity, and growing age of people. According to a study conducted by Bentham Science in 2021, it has been resulted that in Arab society of Israel, prevalence of Type 2 diabetes mellitus increased from 3.4% to 7.6% which is expected to increase continuously and is predicted to go above 12% by 2030. Emerging cases of chronic disease in Israel is leading to increase in purchase of various pharmaceutical products in every region of Israel which will bolster the growth of Israel pharmaceuticals market in the forecast period.

Rise in Health Education Programs and Government Initiatives

Government of Israel is taking numerous initiatives to spread the importance of healthcare among people by organizing various healthcare education programs in every region of the country. The Israeli Health Promoting School Network (HPSN) is actively committed to enhance healthy lifestyle for the entire school population. Moreover, the government is mainly emphasizing on controlling the bad lifestyle habits of citizens such as smoking cigarettes, overeating, lack of physical exercising, and others which are the primary causes of several long-lasting diseases in human body. Government is making technological advancements in healthcare systems and is dedicated to improving their research and development for producing new pharmaceutical product which may assist people to get rid of their unhealthy habits. These many initiatives taken by the government to upgrade their healthcare facilities is further expected to propel the growth of Israel pharmaceuticals market in upcoming years.

Introduction of Health Insurance Policies

Israel has one of the most advanced and highest quality healthcare systems in the world and is ranked at tenth position globally due to its affordable healthcare system. According to the National Health Insurance law every Israeli citizen is entitled to health care services. It makes the purchase of medicines and various other pharmaceutical products more affordable for people which is fueling the growth of Israel pharmaceutical market.

Growth in Geriatric Population

In Israel, approximately around 1,056,300 people are above 65 years of age which account for almost 11.8% of the total population. With ageing, people tend to develop more chances of getting diagnosed with various chronic diseases more frequently. Cardiac disorder is the most prominent problem in Israel which is prevailing more commonly among geriatric population and deteriorating their health. According to the report published by AHA Journal in 2020, around 42% of men and 31% of women who were above 75 years of age, were resulted suffering from severe cardiac illness. Moreover, in Israel, about 25,000 people are hospitalized for myocardial infarction each year. 43,000 patients undergo coronary angiography and 23,000 undergo percutaneous coronary intervention each year. In most cases, the situation is the same as in diagnostic procedures, but about 50% occur during hospitalization for acute coronary syndrome (ACS).3 The ratio of percutaneous coronary intervention to coronary artery bypass surgery is 8:1 which is one of the highest in the world. Several other diseases affect the aged people due to their lower immunity and unhealthy lifestyle, which is expected to boost the growth of Israel pharmaceuticals market in upcoming years.

Recent Developments

• Pharmaceutical giant Pfizer Pharmaceuticals Israel Ltd. has invested USD 20 million in Israeli firm CytoReason, a developer of computational disease models for drug research and development, as part of a larger deal worth up to USD 110 million over the next five years. The agreement builds on an existing multi-year collaboration agreement signed in 2019, allowing Pfizer to leverage CytoReason's digital models of the human immune system and disease for the development of innovative medicines.
• Doxil (known as Caelyx in Europe and Canada) is the world's first nanodrug to treat various types of cancer, developed by researchers at the Hebrew University of Jerusalem. The Weizmann Institute of Science has developed Copaxone, a breakthrough drug for the treatment of multiple sclerosis. This is one of the first Israeli drugs to get approved by U.S. Food and Drug Administration. In recent decades, Israel has become an important part of the global pharmaceutical industry, with exports to the United States alone rising from USD 208 million in 1,997 to USD 5.9 billion in 2018.

Israel pharmaceuticals market is segmented based on drug type, product type, application, distribution channel, company, and region. Based on drug type, the pharmaceutical market is categorized into generic drugs and branded drugs. Based on, product type, market is divided into over-the-counter drugs and prescription drugs. Based on application, pharmaceutical market is segmented into cardiovascular, oncology, metabolic disorder, musculoskeletal, anti-infective, and others. Based on distribution channel market is fragmented into retail pharmacy, hospital pharmacy, and e-pharmacy.

Market Players

Teva Pharmaceutical Industries Ltd, Kamada Pharmaceuticals, MediWound Ltd, Protalix BioTherapeutics Inc, Enlivex Therapeutics Ltd, Bonus BioGroup Ltd, Roche Pharmaceuticals (Israel) Ltd., and Rafa Laboratories Ltd. are some of the key market players in the market.

Report Scope

In this report, Israel pharmaceuticals market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Pharmaceuticals Market, by Drug Type:

• Generic and Branded Drugs

Pharmaceuticals Market, by Product Type:

• Over-The-Counter Drugs
• Prescription Drugs

Pharmaceuticals Market, by Application:

• Cardiovascular
• Oncology
• Metabolic Disorder
• Musculoskeletal
• Anti-infective
• Others

Pharmaceuticals Market, by Distribution Channel:

• Retail Pharmacy
• Hospital Pharmacy
• E-Pharmacy

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Israel pharmaceuticals market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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