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By the end of the 1990s, Israel was home to more than 200 life science companies. With steady growth over the last decade (some 80 new companies formed each year), Israel has introduced creativity and innovation into the field; today there are over 1500 active companies.
In a relatively short period of time, more than 40 percent of these companies are already generating revenues. Israel’s entrepreneurial ecosystem creates opportunities for start-ups to become advanced, commercially viable and promising businesses. As proof of the industry’s development, 2017 life science exports reached $8.5 billion, growing steadily since 2010; while a rich pipeline of seed companies promises to perpetuate current growth.
The Largest Sector is Medical Devices and Digital Health (over 70 percent of companies). In the medical device arena, Israeli scientists and engineers have integrated advanced technologies in electronics, communications and electro-optics to develop world-class innovations in Digital Imaging, Medical Lasers, Telemedicine, Early Diagnostics, Smart Surgical Equipment and more. Over 600 medical device exporters engaged in a variety of medical application such as Cardiovascular and Peripheral Vascular, Neurology and Degenerative Diseases, Preparedness and Emergency Medicine, Intensive Care, Women Health, Orthopedics and Sport Medicine, Gastrointestinal, Infection Control, Ophthalmology, Pain and Wound Management, Oral and Dental Care, Dermatology and Aesthetics…
The digital era opens tremendous opportunities to deliver healthcare services to patients at the comfort of their homes or wherever they are, through any web or mobile device, without requiring a presence of healthcare provider in the loop. For millions of people that live in distance from or in scarcity of healthcare resources and services, the growing spread of smartphones creates new possibilities to improve healthcare services access and quality of life. Telemedicine, mHealth, Wearables, Remote Monitoring, Electronic Medical Records, Big Data Analytics, Internet of Medical Things, Medical Apps and others all can be incorporate into Digital Health or Health Information Technologies.
Israeli Digital Health industry has its roots in a long history of using innovative communication technologies to improve healthcare delivery. With more than 25 years of expertise in implementing health IT, electronic medical records and Big Data Analytics; today, our Government keeps investing strongly in IT thus putting Israeli expertise in international demand. And there are over 450 Israeli companies in the field of Digital Health targeting the different technology and therapeutic scopes.
The IEICI’s Medical Device & Digital Health Sector is the leader in business matching between the more than 1,500 companies in the Israeli life science industry and worldwide business partners at all levels. It has a proven ability to identify and match suitable potential business partners, organize one-on-one business meetings, and is a focal point for contacts with the government as well as with industry.