Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Israel

Israel

The projected revenue in the Other Medical Devices market market in Israel is expected to reach US$1.02bn in 2024.
It is projected to show an annual growth rate of 5.29% from 2024 to 2029, resulting in a market volume of US$1.32bn by 2029.
When compared globally, the United States is expected to generate the highest revenue, with US$72,780.00m in 2024.
Israel is at the forefront of innovative medical technology, with a thriving market for other medical devices.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

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Analyst Opinion

The Other Medical Devices market in Israel has been experiencing significant growth in recent years.

Customer preferences: In Israel, customers have shown a strong preference for technologically advanced and innovative medical devices. They value products that are efficient, accurate, and easy to use. Israeli customers also prioritize devices that are cost-effective and provide high-quality patient care. Additionally, there is a growing demand for devices that can be used in home healthcare settings, as more patients are opting for treatment at home rather than in hospitals.

Trends in the market: One of the key trends in the Other Medical Devices market in Israel is the increasing adoption of digital health technologies. This includes devices that can monitor patients remotely, collect real-time data, and enable healthcare professionals to provide personalized care. The use of artificial intelligence and machine learning algorithms in medical devices is also gaining traction, as it allows for more accurate diagnosis and treatment planning. Another trend in the market is the rising demand for wearable medical devices. These devices, such as smartwatches and fitness trackers, are becoming increasingly popular among Israeli consumers. They offer features like heart rate monitoring, sleep tracking, and activity tracking, which can help individuals manage their health and wellness.

Local special circumstances: Israel is known for its strong healthcare system and innovative medical technology sector. The country has a high number of medical device startups and a supportive ecosystem for entrepreneurship. This has led to the development of cutting-edge medical devices in Israel, which are in high demand both domestically and internationally. The Israeli government also plays a significant role in driving the growth of the Other Medical Devices market. It provides funding and support for research and development in the healthcare sector, as well as incentives for companies to invest in the development of new medical devices. This has created a favorable environment for the growth of the market.

Underlying macroeconomic factors: Israel has a growing aging population, which is driving the demand for medical devices. As the population ages, the prevalence of chronic diseases and the need for medical interventions increase. This creates a larger market for medical devices that can help manage and treat these conditions. Additionally, Israel has a strong healthcare infrastructure and a high level of healthcare expenditure. The government invests heavily in healthcare and is committed to providing high-quality care to its citizens. This creates a favorable environment for the growth of the Other Medical Devices market, as there is a strong demand for advanced medical technologies. In conclusion, the Other Medical Devices market in Israel is experiencing significant growth due to customer preferences for technologically advanced devices, the adoption of digital health technologies, and the rising demand for wearable medical devices. The local special circumstances, such as Israel's strong healthcare system and supportive ecosystem for innovation, further contribute to the growth of the market. The underlying macroeconomic factors, including the aging population and high healthcare expenditure, also drive the demand for medical devices in Israel.

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.