Israel Pharmaceuticals Market Size study, by Drug Type (Generic and Branded Drugs), by Product Type (Over-The-Counter Drugs, Prescription Drugs), by Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, Others), by Di

Israel Pharmaceuticals Market Size study, by Drug Type (Generic and Branded Drugs), by Product Type (Over-The-Counter Drugs, Prescription Drugs), by Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, Others), by Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), and Forecasts 2022-2032

Israel Pharmaceuticals Market is valued at approximately USD 2.97 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2024-2032. Israel stands as the fourth-largest supplier of pharmaceutical products globally, a status attributed to its significant financial investments in research and development (R&D) and its impressive international reach. The market's expansion is underpinned by the rising prevalence of non-communicable diseases such as cancer, diabetes, and cardiac disorders, necessitating advanced pharmaceutical solutions.

The prevalence of chronic diseases, defined as conditions lasting more than a year and requiring ongoing medical attention, is a major factor driving the market. Cancer, diabetes, and cardiac disorders are particularly prevalent, with cancer being the leading cause of mortality in Israel. Every year, approximately 30,000 people are diagnosed with cancer, contributing to 25% of the annual death rate. Similarly, cardiovascular diseases account for about 15% of deaths per year. Diabetes, especially Type 2 diabetes mellitus, is also widespread due to factors like physical inactivity, genetic predispositions, and obesity. The rising cases of these chronic diseases increase the demand for pharmaceutical products, driving market growth.

Government initiatives and health education programs are crucial in promoting healthcare awareness and encouraging healthy lifestyles. Programs like the Israeli Health Promoting School Network (HPSN) aim to enhance healthy living among the school population. The government is also advancing healthcare technologies and focusing on R&D to produce innovative pharmaceutical products. These initiatives are expected to further propel the market growth. Israel's advanced healthcare system, ranked tenth globally, provides affordable healthcare services to all citizens under the National Health Insurance law. This accessibility makes pharmaceutical products more affordable, fueling market growth. Additionally, the growing geriatric population, which is more prone to chronic diseases, contributes to the increasing demand for pharmaceutical products. Recent developments in the market include significant investments by pharmaceutical giants like Pfizer Pharmaceuticals Israel Ltd. in Israeli firms for drug R&D. Innovative drugs like Doxil and Copaxone, developed by Israeli researchers, have gained global recognition, further boosting the market. However, financial hurdles for consumers and manufacturers and competition from international pharmaceutical companies would hamper the market growth.

Major market players included in this report are:

Teva Pharmaceutical Industries Ltd

Kamada Pharmaceuticals

MediWound Ltd

Protalix BioTherapeutics Inc

Enlivex Therapeutics Ltd

Bonus BioGroup Ltd

Roche Pharmaceuticals (Israel) Ltd.

Rafa Laboratories Ltd.

Pfizer Pharmaceuticals Israel Ltd.

CytoReason

Dexcel Pharma

Pharmathen

Sanofi (Israel)

Novartis Israel

Merck Sharp & Dohme (Israel)

The detailed segments and sub-segment of the market are explained below:

By Drug Type:

Generic Drugs

Branded Drugs

By Product Type:

Over-The-Counter Drugs

Prescription Drugs

By Application:

Cardiovascular

Oncology

Metabolic Disorder

Musculoskeletal

Anti-infective

Others

By Distribution Channel:

Retail Pharmacy

Hospital Pharmacy

E-Pharmacy

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues analysis for each market segment.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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