Boston, MA -- (SBWIRE) -- 03/11/2013 -- Headline Expenditure Projections
- Pharmaceuticals: ILS7.08bn (US$1.98bn) in 2011 to ILS7.44bn (US$1.89bn) in 2012; +5.1% in local currency terms and -4.8% in US dollar terms. Forecast slightly lower from Q412 on account of macroeconomic factors.
- Healthcare: ILS65.73bn (US$18.37bn) in 2011 to ILS69.88bn (US$17.69bn) in 2012; +6.3% in local currency terms and -3.7% in US dollar terms. Forecast slightly lower from Q412 on account of macroeconomic factors.
- Medical devices: ILS3.80bn (US$1.06bn) in 2011 to ILS3.93bn (US$0.99bn) in 2011; +3.2% in local currency terms and -6.5% in US dollar terms. Forecast slightly lower from Q412 on account of macroeconomic factors.
In our latest regional Pharmaceutical Risk Reward Ratings (RRRs), Israel ranks third out of the 30 markets surveyed in MEA, with an unchanged composite score of 56.4. A largely urbanised population with a significant pensioner proportion and widespread preference for patented medicines are key factors driving multinational investment in the country, although we maintain risks of weak intellectual property laws and long drug approval times to the commercial launch of new medicines will remain high.
View Full Report Details and Table of Contents
Key Trends And Developments:
- Immune Pharmaceuticals and US pharmaceutical company EpiCept Corporation entered a merger agreement to create a new specialty biopharmaceutical company - Immune Pharmaceuticals Incorporation. The company will focus on the development of antibody therapeutics and targeted drugs for the treatment of cancer and inflammatory diseases.
- Six hospitals in East Jerusalem were reported to be experiencing a financial crisis due to the unpaid debt accrued from the Western-backed Palestinian Authority (PA). The PA was unable to meet payments for the hospitals' services to Palestinians in Gaza and the West Bank seeking medical attention and owes US $18mn to specialised healthcare centres.
- Israel secured a pharmaceutical trade agreement with the European Union. The European parliament approved the Agreement on Conformity Assessment and Acceptance of Industrial Products which means Israeli products are recognised as having equivalent manufacturing and quality standards to those in the EU and will not require additional analysis and testing before reaching the shelves. The agreement removes barriers to trade, cuts manufacturers' costs and allows Israeli drugmakers to get their products to the EU market more easily.
BMI Economic View: Israel's economy slowed in H212 and will continue to do so in early 2013, as the government is set to rein in spending, while leading indicator data paint a relatively negative picture for private consumption and fixed investment. As a result, we have lowered down our forecast for 2013 real GDP growth to 3.3%, from a previous forecast of 3.5%.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Nigeria Pharmaceuticals & Healthcare Report Q1 2013
- Sweden Pharmaceuticals & Healthcare Report Q1 2013
- Bulgaria Pharmaceuticals & Healthcare Report Q1 2013
- Partnerships, Licensing, Investments and M&A Deals and Trends in Pharmaceuticals - Q1 2011
- Lithuania Pharmaceuticals & Healthcare Report Q1 2013
- Egypt Pharmaceuticals & Healthcare Report Q1 2013
- Slovenia Pharmaceuticals & Healthcare Report Q1 2013
- Morocco Pharmaceuticals & Healthcare Report Q1 2013
- Kuwait Pharmaceuticals & Healthcare Report Q1 2013
- Bangladesh Pharmaceuticals & Healthcare Report Q1 2013