Israel Hospital Market to be Dominated by Increasing Number of Surgeries through 2028
The rise in number of road
accidents are the major growth drivers for the Israel hospital market.
According to TechSci Research
report, “Israel Hospital Market-By Region, Competition, Opportunities, and Forecast, 2028”, the Israel Hospital Market is
anticipated to register a high CAGR during the forecast period. This can be
ascribed to development in healthcare system of Israel coupled with
technological advancements in medical facilities. Healthcare system in
Israel is growing with an immense rate due to various technological
advancements taking place in medical facilities provided by hospitals of the
country. One of
the key players in Israel, Gamida-Cell Ltd. is developing stem cell therapy
products to cure blood cancers, solid tumors, and non-malignant blood diseases
such as sickle-cell anemia, autoimmune diseases, and genetic metabolic
diseases. Hospitals in Israel are equipped with modern facilities and
high-quality medical technology which is allowing them to treat their patients
with advanced tools. Moreover, the increase in number of surgical procedures to
cure severe diseases like cancer, neurological disorders, cardiac disorders,
and others is also expected to provide a remarkable growth to Israel hospital
market in the forecast period. Increasing prevalence of popular plastic/cosmetic
surgery procedures such as liposuction and nose jobs are also expected to boost
the growth of hospital market in the country. According to the report
published by Jerusalem Post in 2022, around 82 thousand Israelis underwent
plastic surgery in 2021 where the three most performed surgeries were breast
augmentation, liposuction, and nose surgery. As per the data released by
Israeli Society of Plastic and Aesthetic Surgery (ISPAS) around 9 thousand
breast augmentation surgeries, 7 thousand liposuction surgeries, 6 thousand
nose surgeries, 5,900 eyelid lift surgeries, 3,800 breast lifts, and 4,200
abdominoplasties were performed across the country which propelled the growth
of Israel hospital market. Huge blood loss, damage of internal organs,
severe injuries, and others caused by rising cases of accidents leads to high
admission of patient in Israel medical centers. As per the reports published
the media line in 2023, it has been concluded that around 351 people were
killed in Israel dur to road accidents. Moreover, the number of people
seriously injured in traffic accidents rose 2.1%, from 2,458 in 2021 to 2,510
in 2022. The number of accidents with serious injuries but without fatalities
also rose 1%, from 2,208 to 2,230. Rise in traffic and occupational
accidents with each passing year is unfortunately expected to register an
impressive growth to Israel hospital market in the forecast period.
However, systematic
failures in planning, budgeting and regulation by the government resulting in
an acute shortage of beds, inefficiencies, and gaps in accessibility of
treatment is expected to slow down the growth of the market in the coming
years.
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The Israel hospital
market segmentation is based on ownership, type, type of services, bed capacity,
company, and region.
Based on type, the
market is further divided into general, multispecialty, and specialty. The
multispecialty segment is likely to dominate the market in the forecast period.
This can be ascribed to growing
number of surgeries performed in the country due increase in prevalence of
certain chronic diseases like cancer, diabetes, cardiac disorders, and others.
Based on bed capacity,
the market is further divided into above 500 beds, 100-500 beds, and up to 100 beds. Hospitals
with above 500 beds capacity segment is likely to dominate the market in the
forecast period. This can be ascribed to increase in hospital patient
admissions recorded in the country due to growing prevalence of chronic
diseases among people of Israel such as cardiac disorders and cancer.
Based on type, the market is
further divided into General, Multispecialty, and Specialty. Multispecialty hospitals
segment is likely to dominate the market in the forecast period. This can be
ascribed to increase in demand of treatments for multiple diseases in the
country during forecast period.
Some of the major
companies operating in the Israel hospital market include:
- Sheba Medical
Center
- Assuta Medical
Centers Ltd.
- Shaare Zedek Medical Center
- Hillel Yaffe Medical Center
- Tel Aviv Sourasky Medical Center
- Herzliya Medical Center Ltd
- Rambam Health Care Campus
- Ichilov Hospital
- Rabin Medical
Center
- Wolfson
University Medical Center (WMC)
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“Rising disposable income of Israel
working population is allowing them to get high quality treatment for their
health problems, which is expected to boost the growth of Israel hospital
market. Moreover, the increasing number of government initiatives and polices
imposed by the government such as ‘National Health Insurance Law’ of the
country for development of healthcare industry along with growing insurance
coverage for the people of Israel is also expected to bolster the growth of
market," said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Israel Hospital Market By Ownership (Public,
Private), By Type (General, Multispecialty, Specialty), By
Type of Services (In-Patient Services, Out-Patient Services), By Bed Capacity (Above
500 Beds, 100-500 Beds, Up To 100 Beds), By Region, Competition, Forecast, and
Opportunities, 2028”, has
evaluated the future growth potential of Israel hospital 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 hospital market.
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