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Israel borders Lebanon, Syria, Jordan, Egypt and the Mediterranean Sea. Lying within its borders are areas that the Palestinians claim as their own; the threat of terrorism dominates the politicallandscape.
Israel has the largest medical device market in the Middle East region and this is set to grow at an attractive rate of 6.1% in the medium term. Much of the market, at over 80%, is supplied by imports, and a significant portion of these in value terms are dominated by “high-end” products falling under the diagnostic imaging apparatus category.
In terms of expenditure, Israel spends around 8.0% of total GDP on healthcare, and per capita spending rates are considered high by regional and world standards. Much of spending is in the public sector and the government has made allowances in recent years to expand the number of services and treatment offered by public health insurance programmes. The country also has a rapidly growing elderly demographic that is contributing to rising healthcare costs.
As well as being a political ally, the US is one of the leading suppliers of imports, along with Germany; the two countries shipped a combined total of US$292.1 million, equal to just under half of total imports in 2007. The EU and the US are vital trade partners for Israel, as the country is isolated from its Arab neighbours and conducts virtually no trade with them.
Thanks to a substantial domestic production capacity, Israel exported over US$1 billion worth of goods in 2007, primarily diagnostic imaging equipment, which was responsible for over half the total.
Espicom estimates the medical device market in Israel to be worth US$661 million in 2009, equal to US$89 per capita. The market is expected to experience annual growth of 6.1%, taking it to US$889 million, or US$110 per capita, by 2014.
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