New Study: Israel Pharmaceuticals & Healthcare Report Q3 2016

From: Fast Market Research, Inc.
Published: Wed Jul 20 2016

Israel will continue to be targeted by multinational drugmakers as a destination for innovative drug sales; however, their relative success will be limited by funding constraints towards the country's health services basket and the lack of transparency with new drug inclusions. An uptick in economic growth and an increase to government funding supports our moderate growth outlook for Israel's pharmaceuticals and healthcare sectors over the coming years.

Headline Expenditure Projections

Pharmaceuticals: ILS7.82bn (USD2.01bn) in 2015 to ILS8.14bn (USD2.10bn) in 2016; +4.1% in local currency terms and +4.4% in US dollar terms. Forecast in line with Q 2 1 6 .

Healthcare: ILS89.56bn (USD23.05bn) in 2015 to ILS94.53bn (USD24.42bn) in 2016; +5.6% in local currency terms and +5.9% in US dollar terms. Forecast upgraded from Q 2 16 .

Full Report Details at

Risk/Reward Index

The Israeli pharmaceutical sector boasts a number of key qualities. These include a largely urbanised population and a significant pensionable proportion. Although intellectual property (IP) laws are currently being made more robust, we highlight long drug approval times as a hindrance to multinational drugmakers' ability to maximise their returns in the market. In our Pharmaceutical Risk/Reward Index (RRI) for Q316, the country scores 55.0 out of 100. This makes it the fourth most attractive market for pharmaceutical investment in the Middle East and Africa (MEA), behind the United Arab Emirates (61.1), Saudi Arabia (60.4) and Kuwait (59.3), out of 31 countries analysed.

Latest Updates

In May 2016, the Yissum Research Development Company of the Hebrew University of Jerusalem signed an exclusive worldwide licensing and research agreement with BioTheryX for the development and commercialisation of drug candidates representing a first-in-class therapy for haematologic and solid malignancies.

In February 2016, Health Minister Yaakov Litzman advanced the idea of implementing a personal smartcard that would contain all of patients' personal medical information while protecting their privacy and rights for use at hospitals and community clinics.

BMI Economic View

Israel's economic activity will be affected by weaknesses in the exports sector amid a slowdown in global trade, adverse foreign exchange movements and industry-specific difficulties. A strong private consumption outlook will not be sufficient to generate a significant growth acceleration in 2016. We have revised down our growth forecast for 2016 to 2.7%, down from 3.0% previously, marking an only modest acceleration from 2015, when growth came in at 2.5%.

BMI Political View

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