Market Insights Health Medical Technology Medical Devices

Cardiology Devices - Israel

Israel

The Cardiology Devices market market in Israel is forecasted to achieve a revenue of US$0.41bn in 2024.
It is expected that this revenue will experience a compound annual growth rate (CAGR 2024-2029) of 7.18%, leading to a market volume of US$0.58bn by 2029.
When compared globally, the United States is projected to generate the highest revenue in this market, with an estimated amount of US$25,770.00m in 2024.
Israel is at the forefront of innovation in cardiology devices, with a strong focus on advanced technologies and breakthrough solutions.

Key regions: United Kingdom, United States, France, Spain, China

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Analyst Opinion

The Cardiology Devices market in Israel has been experiencing steady growth in recent years, driven by customer preferences for innovative and advanced medical technologies.

Customer preferences: In Israel, customers in the Cardiology Devices market have a strong preference for cutting-edge technologies that offer superior performance and improved patient outcomes. They value devices that are minimally invasive, provide accurate and real-time data, and are easy to use. Additionally, customers in Israel are increasingly seeking devices that can be integrated with digital health platforms, allowing for remote monitoring and personalized care.

Trends in the market: One of the key trends in the Cardiology Devices market in Israel is the increasing adoption of implantable cardioverter-defibrillators (ICDs) and pacemakers. These devices are used to regulate heart rhythms and prevent life-threatening arrhythmias. The growing prevalence of cardiovascular diseases, coupled with advancements in device technology, has led to a rise in the number of implantations. Another trend in the market is the growing demand for transcatheter aortic valve replacement (TAVR) procedures. TAVR is a minimally invasive procedure used to treat aortic valve stenosis, a condition characterized by the narrowing of the heart's aortic valve. This procedure offers several benefits over traditional open-heart surgery, including shorter recovery times and reduced risk of complications.

Local special circumstances: Israel has a strong healthcare system and is known for its innovative medical technologies. The country has a highly skilled workforce and a robust research and development ecosystem, which fosters the development of new Cardiology Devices. Additionally, Israel has a high rate of cardiovascular diseases, which creates a significant demand for advanced cardiology devices.

Underlying macroeconomic factors: The growth of the Cardiology Devices market in Israel is also influenced by several macroeconomic factors. The country has a strong economy and a high standard of living, which allows for increased healthcare spending. Additionally, the government provides support for research and development in the healthcare sector, further driving innovation in the market. Furthermore, Israel has a well-established healthcare infrastructure, including hospitals and clinics, which facilitates the adoption of new cardiology devices. In conclusion, the Cardiology Devices market in Israel is experiencing steady growth, driven by customer preferences for innovative and advanced technologies. The increasing adoption of ICDs, pacemakers, and TAVR procedures reflects the demand for devices that offer improved patient outcomes and minimally invasive treatment options. Israel's strong healthcare system, skilled workforce, and supportive government policies contribute to the growth of the market. With the continued focus on innovation and advancements in medical technology, the Cardiology Devices market in Israel is expected to thrive in the coming years.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.