There are a growing number of pharmaceutical companies in Israel, a tiny Middle East country. Though the pharmaceutical sector is booming, the medical devices market remains the largest in the Israel life science sector, with a market size of $1.6 billion in 2021.
The medical devices segment consists of Cardiovascular Devices (highest revenue), Orthopedic Devices, Hospital Supplies, Neurology Devices, General Surgery Devices. Major players in the sector are Abbott, GE Healthcare, Coloplast, Zimmer Biomet, BioView Ltd, TeleMedicine Ltd.
The medicine supply chain in Israel consists of the pharmaceutical manufacturers, drugstores, the pharmacies, and the consumer. Pharma manufacturers in Israel are expected to submit the list of drugs in Register of Preparations to the MoH. Drugstores are wholesalers who supply to licensed pharmacy outlets.
The market size of the pharmaceutical sector in Israel is $2.4 billion in 2018 (globaldata)
The major pharmaceutical companies in Israel are Sanofi, Teva Pharmaceutical Industries Ltd. (Teva), Bayer AG, Kamada Pharmaceuticals, GlaxoSmithKline (GSK) and Merck & Co. Teva Pharmaceutical Industries Ltd. is an Israel indigenous pharmaceutical company with headquarters in Tel Aviv. It is among the top three manufacturers of generic medicines in the world, alongside Sandoz and Viatris. It is also one of the largest pharmaceutical companies in the world (18th position)
Taro Pharmaceutical Industries, and Kamada Ltd are other Isreal pharmaceutical and biotech companies respectively that have huge market globally especially in countries such as US, Canada
The main pharmaceutical manufacturing in Israel are generics, over-the-counter drugs, biologics, biosimilars. There is emphasis on research and development (R&D).
