Skip to main content
  1. Market Insights
  2. Health

Pharmaceuticals - Israel

Israel
  • In 2024, the projected revenue in the Pharmaceuticals market in Israel is expected to reach US$3.06bn.
  • The largest market within the Pharmaceuticals market is Oncology Drugs, which is projected to have a market volume of US$545.30m in 2024.
  • Looking ahead, the revenue is expected to grow at an annual growth rate (CAGR 2024-2029) of 4.95%, resulting in a market volume of US$3.89bn by 2029.
  • When compared globally, United States is anticipated to generate the highest revenue, reaching US$630.30bn in 2024.
  • Israel has emerged as a global hub for pharmaceutical innovation, attracting multinational companies and fostering a thriving startup ecosystem.

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

In-Scope

  • Prescription and over-the-counter (OTC) drugs
  • Small molecule drugs and biologic medical products
  • Vaccines
  • Original brands, biosimilars, and generics
  • Next-generation therapeutics

Out-Of-Scope

  • Veterinary drugs
  • Medical devices
  • Profit of wholesalers, pharmacies, hospitals, and clinics
Pharmaceuticals: market data & analysis - Cover

Market Insights report

Pharmaceuticals: market data & analysis

Study Details

    Revenue

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    Israel, a small country in the Middle East, has been making significant strides in the pharmaceuticals market.

    Customer preferences:
    The Israeli pharmaceutical market has been growing due to the increasing demand for innovative medicines. Patients in Israel prefer high-quality and advanced drugs that can cure their ailments effectively. Additionally, the aging population in the country has also contributed to the growth of the pharmaceuticals market as older people require more medication.

    Trends in the market:
    One of the notable trends in the Israeli pharmaceuticals market is the increasing investment in research and development (R&D). Many pharmaceutical companies have set up R&D centers in Israel due to the country's advanced technology and highly educated workforce. This has led to the development of new drugs and treatments that are in high demand both locally and globally.Another trend in the market is the focus on personalized medicine. Israeli pharmaceutical companies are developing drugs that are tailored to individual patients' genetic makeup, which can lead to more effective treatments and fewer side effects. This trend is expected to continue as personalized medicine becomes more prevalent in the healthcare industry.

    Local special circumstances:
    Israel's location in the Middle East has created some unique challenges for the pharmaceuticals market. The country has a small population, which limits the local market's size. Additionally, Israel's political situation has made it difficult to establish trade relationships with neighboring countries. However, the country has been able to overcome these challenges by focusing on innovation and developing strong relationships with global pharmaceutical companies.

    Underlying macroeconomic factors:
    Israel's strong economy and highly skilled workforce have contributed to the growth of the pharmaceuticals market. The government has also provided support for the industry through tax incentives and grants for R&D. Additionally, Israel's membership in the European Union has made it easier for pharmaceutical companies to export their products throughout Europe. In conclusion, the Israeli pharmaceuticals market has been growing due to the increasing demand for innovative medicines, investment in R&D, and focus on personalized medicine. Despite some unique challenges, the country's strong economy and skilled workforce have allowed the industry to thrive.

    Next generation therapy

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

    Modeling approach / Market size:

    Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. 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, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

    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. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.

    Health

    Access more Market Insights on Health topics with our featured report

    Pharmaceuticals: market data & analysis - BackgroundPharmaceuticals: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Global pharmaceutical industry - statistics & facts

    The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.
    More data on the topic

    Contact

    Get in touch with us. We are happy to help.