MEDICAL DEVICES
Medical devices is a leading segment in the Israeli life sciences industry, and is especially known for its diverse development activity and exports.
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DIGITAL HEALTHCARE
The digital healthcare and healthcare IT segment in Israel is a rapidly growing part of the Israeli life sciences industry, and the number of companies in this segment has been growing consistently for several years, reaching over 200 companies.
The Israeli industry includes companies that engage in nearly all areas of digital healthcare. The largest number of companies in this industry specializes in analytics / big data, personalized medicine and administration. In addition, when segmenting the industry by field in medicine, it is apparent that the largest medical categories in the digital healthcare industry are neurology, psychology, cardiology, genetics, geriatrics, gynecology, obstetrics and diabetes.
While the majority of companies in the traditional life sciences industry in Israel develop products for service providers, a large number of Israeli companies in this segment develop products that target consumers directly. 65.4% of the companies in the field develop products geared directly to customers (B2C – Business to Customer), or directly to customers via an additional service provider (B2B2C – Business to Business to Consumer).
Although 78% of Personal Health Tools companies are in early stages of funding (40% pre-seed, 38% seed), theproducts of almost 80% of companies in this subsector are fully developed (50%) or in alpha/ beta stages (27%).
For many years, Israel has been implementing policies that include government investments in the digital healthcare segment. Israel was one of the first countries in the world to integrate electronic medical records into its systems and to introduce connectivity between its various nationwide healthcare systems. Collaboration with government organizations is one of the main strengths of the local industry. The Ministry of Health leads a digital-health-based program that aims to improve processes and quality of treatment while reducing expenses. The program is based on the digital healthcare startup industry in Israel and is expected to significantly change the Israeli healthcare system.
Leading Israeli companies in the field include: CliniWorks, Starlims, and Hello Heart, among others.
