Digital Health - Israel

Israel

The Digital Health market in Israel is projected to reach a revenue of US$700.90m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 8.21%, resulting in a projected market volume of US$1,040.00m by 2029.
The average revenue per user (ARPU) is expected to amount to US$124.20.
In global comparison, United States is forecasted to generate the most revenue with US$47,120.00m in 2024.
WithIsrael, the largest market will be Digital Treatment & Care, which is expected to have a total revenue value of US$419.00m in 2024.
Israel is emerging as a global leader in digital health innovation, with a thriving ecosystem of startups and a strong government support.

Key regions: United States, China, Japan, Asia, Europe

Market

Region

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Currency

Analyst Opinion

The Digital Health market in Israel has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Israel are increasingly seeking convenient and efficient healthcare solutions, leading to a growing demand for digital health services. The younger population, in particular, is more inclined towards utilizing online doctor consultations and digital fitness platforms for their healthcare needs.

Trends in the market: One notable trend in the Israeli Digital Health market is the rise of digital treatment and care services. With advancements in technology and increased adoption of telemedicine, more patients are opting for remote monitoring and virtual healthcare services. This trend is reshaping the traditional healthcare landscape in Israel and providing patients with greater access to medical professionals and treatments.

Local special circumstances: Israel is known for its strong innovation ecosystem and a high concentration of tech startups. This environment has fostered the growth of the Digital Health market in the country, with numerous companies developing cutting-edge solutions in areas such as personalized medicine, wearable devices, and health analytics. The government's support for digital health initiatives and the presence of world-class research institutions further contribute to the sector's expansion.

Underlying macroeconomic factors: The increasing healthcare expenditure in Israel, coupled with a growing awareness of the importance of preventive healthcare, is driving the adoption of digital health solutions in the country. Moreover, the aging population and the prevalence of chronic diseases are creating a greater need for remote monitoring and digital care services, further fueling the growth of the Digital Health market in Israel.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.