BMI View: Israel represents one of the most attractive medical device markets in the region. Strong traderelations with the US facilitate medical device imports and exports, while Israel is also a very dynamicmarket in terms of medical device start-ups. Domestic industry strengths include diagnostic imaging anddental instruments. With increased investment in areas such as dental products, the market will see steadygrowth from 2017 onwards.
Latest Updates and Key Forecasts
We maintain our forecasts and project that the market will expand by a 2016-2021 CAGR of 6.3% inlocal currency terms, which will take expenditure to ILS6.0bn in 2021. Market growth in US dollar termswill be higher at a 2016-2021 CAGR of 7.7%, which should see it increase to USD1.7bn in 2021.
We expect the slowdown in imports to be short-lived, reflecting our wider view that the Israeli economywill accelerate in 2018. In the three months to April 2017, imports contracted by 0.7% y-o-y in US dollarterms, to USD237.8mn. Over the 12-month period to April 2017, imports registered a 4.1% increase y-oyto USD955.2mn.