Sensory Organ Drugs - Israel

Israel

Highlights

The Sensory Organ Drugs market in Israel is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$69.96m in 2024.
Looking ahead, the market is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of -3.41%, leading to a market volume of US$58.82m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue in the Sensory Organ Drugs market.
It is estimated that United States will generate US$13.98bn in revenue by 2024.
Israel is at the forefront of research and development in sensory organ drugs, leveraging its advanced healthcare infrastructure and highly skilled workforce.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sensory Organ Drugs market in Israel has experienced significant growth in recent years.

Customer preferences: The demand for Sensory Organ Drugs in Israel has been driven by an aging population and an increase in chronic diseases such as diabetes and hypertension. Additionally, the high prevalence of eye disorders such as cataracts and glaucoma has also contributed to the growth of the market.

Trends in the market: One of the key trends in the Sensory Organ Drugs market in Israel is the increasing use of biologics for the treatment of eye disorders. Biologics are a type of drug that is produced from living organisms and are highly effective in treating complex diseases. The use of biologics has been driven by the increasing prevalence of age-related macular degeneration (AMD) and diabetic macular edema (DME) in the country.Another trend in the market is the increasing focus on innovation and R&D. Many pharmaceutical companies in Israel are investing heavily in R&D to develop new drugs and therapies for the treatment of eye disorders. This has led to the development of new drugs that are more effective and have fewer side effects than traditional drugs.

Local special circumstances: Israel has a highly developed healthcare system and is home to many leading pharmaceutical companies. The country has a strong focus on innovation and R&D, which has helped to drive the growth of the Sensory Organ Drugs market.

Underlying macroeconomic factors: The growth of the Sensory Organ Drugs market in Israel can be attributed to a number of underlying macroeconomic factors. These include an aging population, an increase in chronic diseases, and a strong focus on innovation and R&D. Additionally, the government has implemented policies to encourage the growth of the pharmaceutical industry, which has helped to support the growth of the market. Overall, the Sensory Organ Drugs market in Israel is expected to continue to grow in the coming years, driven by increasing demand for innovative and effective treatments for eye disorders.

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.