Other Pharmaceuticals - Israel

Israel

In Israel, the revenue in the market Other Pharmaceuticals market is forecasted to reach US$1.30bn in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.98%, leading to a market volume of US$1.58bn by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, amounting to US$260.50bn in 2024.
Israel is a leading hub for innovative pharmaceutical research and development, attracting global investments and fostering collaborations with local startups.

Key regions: China, Europe, Australia, United States, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

Israel, a small country in the Middle East, has been experiencing significant growth in its Other Pharmaceuticals market in recent years.

Customer preferences: The Israeli population has a high demand for innovative and advanced medical treatments. This demand is driven by the country's well-developed healthcare system, which provides universal coverage to all citizens. Israeli consumers are also known for their willingness to try new products and treatments, making the Other Pharmaceuticals market an attractive area for investment.

Trends in the market: The Other Pharmaceuticals market in Israel has been growing steadily in recent years, driven by a number of factors. One key trend is the increasing prevalence of chronic diseases in the country, including diabetes, cancer, and cardiovascular disease. As a result, there is a growing need for advanced treatments and therapies to manage these conditions.Another trend in the market is the increasing use of technology and data analytics to develop new treatments and improve patient outcomes. Israeli companies are at the forefront of this trend, leveraging the country's strong tech sector to develop innovative solutions for the healthcare industry.

Local special circumstances: Israel's unique geopolitical situation has also contributed to the growth of the Other Pharmaceuticals market. The country is surrounded by nations with less developed healthcare systems, leading to a high demand for Israeli medical products and services in the region. Additionally, Israel has a large population of immigrants from around the world, many of whom have unique healthcare needs and preferences.

Underlying macroeconomic factors: Israel's strong economy and stable political environment have also contributed to the growth of the Other Pharmaceuticals market. The country has a highly educated workforce and a well-developed infrastructure, making it an attractive location for investment in the healthcare sector. Additionally, Israel has a favorable regulatory environment for pharmaceutical companies, with a streamlined approval process for new drugs and treatments.Overall, the Other Pharmaceuticals market in Israel is poised for continued growth in the coming years. With a strong demand for innovative treatments, a growing focus on technology and data analytics, and a favorable regulatory environment, the country is well-positioned to remain a leader in the global healthcare industry.

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.