Market Report, "Israel Pharmaceuticals & Healthcare Report Q2 2011", published

April 20, 2011 - PRLog -- In our latest regional Business Environment Ratings (BERs), Israel ranks seventh of the 19 markets surveyed in Middle East and Africa. Globally, Israel ranks 42nd out of the 83 markets surveyed. The country's reward profile is judged as more attractive than its risk score, which is just above the regional average for Q211. Risks will continue to be elevated, mostly due to issues with intellectual property (IP) protection, although the political and social tensions also play a part, as does its relative isolation from the immediate region. Nevertheless, international pressure from the US has seen the country agree to reform some of the worst aspects of its intellectual property (IP) legislation.

Nevertheless, the growth of the Israel's pharmaceutical market has been supported by a well-developed healthcare system and high per-capita spending on patented drugs. However, innovative treatments, which accounted for around 50% of the total market value in 2007, but have been losing their prominence, represented just over 46% of the total in 2010. Through to 2015, we forecast this erosion to continue apace, with the patented segment's value dropping to under 40% of the total market at consumer prices. In contrast, cost-containment and patent expirations will conspire to push up the share of the generics to above 35% in the same year at a five-year compound annual growth rate (CAGR) calculated at 7.09% in local currency. The overall market's CAGR is expected to come in at a relatively modest 3.87%, taking the overall value from ILS6.36bn (US$1.70bn) in 2010 to ILS7.67bn (US$2.20bn) in 2015.

However, the market is seen as having limited opportunities for local players, the major ones of which have been increasingly focusing on activities abroad. Fresh from acquiring German generics specialist Ratiopharm in 2010, Israel-based Teva, the leading global generics player purchased one of Peru's biggest pharmaceutical companies, Corporacion Infarmasa, in February 2010. Teva's president and CEO, Shlomo Yanai, commented: "the acquisition of Infarmasa in Peru expands our activity in Latin America and highlights our growth strategy for the coming years. Infarmasa complements Teva's activity in Peru and will advance our position as market leader in this region."

The market potential for exports could be further strengthened by efforts to push the shekel against the US dollar, although we caution of exchange rate volatility. Israel exported just over US$5bn worth of medicines in 2010, with the majority destined for European and North American markets. Through to 2015, we expect Israel's pharmaceutical exports to continue growing strongly, posting a five-year CAGR of just over 10%. In contrast, imports will be disadvantaged by the strength and sophistication of domestic players, generic competition and the increased need for cost-containment, with their five-year CAGR coming in at a considerably lower 3.5%, broadly in line with the overall market development. In 2015, we forecast imports reaching US$1.59bn, with exports topping US$8.64bn.

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Partial Table of Contents:

SWOT Analysis
- Israel Pharmaceuticals And Healthcare Industry SWOT
- Israel Political SWOT
- Israel Economic SWOT
- Israel Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Middle East and Africa - Regional Pharmaceuticals Business Environment Ratings For Q211
- Rewards
- Risks
Israel - Market Summary
Regulatory Regime
- Intellectual Property
- Previous Shortcomings of the IP Environment
- Remaining Issues of the IP Environment
- Counterfeit Drugs
- Pricing System
- Table: Price Build-Up in the Israeli Pharmaceutical Market
- Price Cuts
- Reimbursement System
- Recent Reimbursement Developments
- Funding For Reimbursement
Industry Trends and Developments
- Epidemiology
- Communicable Diseases
- Healthcare Sector
- Healthcare Insurance
- Recent Healthcare Coverage Developments
- Healthcare Financing
- Research and Development Sector
- Table: Israel's R&D Law - Conditions For OCS Funding
- Clinical Trials
- Biotechnology
- Recent Biotechnology Developments
- International Research and Development Cooperation
- Private Sector
- Medical Device Industry
- Recent Medical Device Company Developments
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Indicators 2007-2015
- Table: Government Healthcare Expenditure Indicators 2007-2015
- Table: Private Healthcare Expenditure Indicators 2007-2015
- Key Growth Factors - Macroeconomic
- Table: Israel - Economic Activity, 2006-2015
- Prescription Market Forecast
- Table: Prescription Drug Sales Indicators 2007-2015
- Patented Market Forecast
- Table: Patented Drug Market Indicators 2007-2015
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2007-2015
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2007-2015
- Medical Device Market Forecast
- Table: Medical Devices Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2007-2015
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario

Full Table of Contents is available at:
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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.