Boston, MA -- (ReleaseWire) -- 07/01/2014 -- The use of the reference pricing mechanism by Israel will lead to further price reductions on medicines. Israel's basket of reference countries is continuing to focus on pharmaceutical prices as a way to contain escalating healthcare costs. Overall, Israel's pharmaceutical industry is well developed and export-driven. It is also a very attractive prospect for multinationals looking to launch innovative medicines due to a greater need for specialty treatments, thereby capitalising on the country's strong academic research infrastructure. Favourable factors include high per capita spending on medicines, a large market , high proportion of pensioners and a largely urbanised population. However, we caution that poor patent respect and a lack of business transparency remain key threats to company revenues.
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Headline Expenditure Projections
- Pharmaceuticals: ILS7.31bn (USD2.02bn) in 2013 to ILS7.53bn (USD2.13bn) in 2014; +3.13% in local currency terms and 5.2% in US dollar terms. Forecast remains broadly in line with Q214.
- Healthcare: ILS74.01bn (USD20.50bn) in 2013 to ILS78.62bn (USD22.21bn) in 2014; +6.2% in local currency terms and 8.3% in US dollar terms. Forecast broadly in line with Q214.
Ri sk/Reward Rating
The Israeli pharmaceutical sector boasts a number of key qualities. These include a largely urbanised population and a significant pensioner proportion. However, we highlight weak intellectual property (IP) laws and long drug approval times as severe hindrances to multinational drugmakers maximising their returns in the market. In BMI's Pharmaceutical Risk/Reward Ratings (RRRs) matrix, the country scores 53.4 out of 100 in Q314, making it the sixth most attractive market for pharmaceutical investment in the Middle East and Africa (MEA). Israel has fallen by another place in our rankings, with its overall score falling from 55.8 out of 100 in Q214.
Key Trends And Developments
Teva Pharmaceutical Industries announced it is...
The Israel Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Israel Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Israeli pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Israel to test other views - a key input for successful budgeting and strategic business planning in the Israeli pharmaceutical and healthcare market.
- Target business opportunities and risks in the Israeli pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Israel.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
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