Israel Pharmaceuticals Market to be Dominated by Problems Arising from Environmental Changes through 2028
Increasing traffic or occupational accidents are
the major drivers for the Israel pharmaceuticals market.
According to TechSci Research report, “Israel
Pharmaceuticals Market- By
Region, Competition, Opportunities, and Forecast, 2028”, the Israel pharmaceuticals market is anticipated to
register a high CAGR during the forecast period. This can be ascribed to rise
in traumatic incidences across various parts of the country.
The Mediterranean region of Israel is facing a
significant increase in frequency, intensity and duration of heat waves which
is making the region warmer and is leading to the rise of health problems. The
impact of extreme weather on human health can be categorized into direct and
indirect. Direct impact includes deaths, illness, psychological stress from
heat waves, reduced air quality, reduced food safety due to increased exposure
to ultraviolet radiation. The indirect impact is growing health and social
inequalities due to rising global food prices and food insecurity, leading to
population displacement and migration. According to the report published by
The Times of Israel in 2022, a study was conducted which examined heat waves
till 2020. It was found that heatwaves lead to the death of some 45 people in a
year on an average. Moreover, most of the abnormalities in mortality during heatwaves are seen in adults over the age of 70 years, accounting for 88.5% of all deaths. Increase
in health hazards caused by environmental disturbances is leading to the rise
in purchase of pharmaceutical products and therefore propelling the growth of Israel
Pharmaceuticals market in the forecast period. Moreover, increasing rate of
traffic and occupational accidents in the country are expected to register an
impressive growth to Israel Pharmaceuticals market. Huge amount of blood loss
in road accidents along with severe injuries resulting in people after the
casualty including fractures, internal organ damage, and others are result in
growing demand for pharmaceutical products which is expected to fuel the market
in upcoming years. As per the report presented by The Times of Israel in
2023, since the beginning of 2021, almost 300 people have been killed in
traffic accidents on Israel’s roads, making it the deadliest year since 2017.
Till 2021, 299 people have been killed in
traffic accidents in Israel, compared to 253 for the same period in 2020 which
accounted for an 18 percent increase. During the same period in 2019, 269
people were killed, and 238 in 2018. The number of overall deadly accidents has
also gone up, from 238 during the same period last year to 253 in 2021.
However, limited
companies in Israel manufacturing pharmaceutical products which is leading to
pharmaceutical drug shortages in various regions of the country is expected to
slow down the growth of the market in the coming years.
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in-depth TOC on "Israel Pharmaceuticals Market”
The Israel pharmaceuticals
market segmentation is based on drug type, product type, application,
distribution channel, company, and region.
Based on application,
the market is further divided into cardiovascular, oncology, metabolic
disorders, musculoskeletal, anti-infective, and others. Oncology segment is
likely to dominate the market in the forecast period. This can be ascribed to growing rate of
population in Israel being diagnosed with different types of cancer every year
which accounts for around 25 percent of total mortality rate in a year.
Based on drug type, the market is further
divided into generic drugs and branded drugs. Generic drugs are likely to
dominate the market in the forecast period. This can be ascribed to the high
availability of generic drugs in Israel and their cost-effectiveness.
Some of the major companies
operating in the Israel pharmaceuticals market include:
- Teva
Pharmaceutical Industries Ltd.
- Kamada Pharmaceuticals
- MediWound Ltd.
- Protalix BioTherapeutics Inc.
- Enlivex Therapeutics Ltd.
- Bonus BioGroup Ltd.
- Roche Pharmaceuticals (Israel) Ltd.
- Rafa Laboratories Ltd.
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“Certain regions are
expected to dominate the demand for pharmaceuticals in Israel. Strong
intellectual property protection laws imposed by Israel which provide
incentives for companies to invest in drug development markets will boost the
growth of Israel pharmaceuticals market in the forecast period. Moreover, easy accessibility
and availability of pharmaceutical products for people in Israel will drive the
market in upcoming years." said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Israel Pharmaceuticals Market By Drug Type (Generic
Drugs, Branded Drugs), By Product Type (Over-The-Counter Drugs,
Prescription Drugs), By Application (Cardiovascular,
Oncology, Metabolic Disorders, Musculoskeletal, Anti-infective, Others), By Distribution
Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region,
Competition, Forecast, and Opportunities, 2028” has evaluated the future growth potential of Israel
pharmaceuticals market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide innovative
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Israel pharmaceuticals
market.
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