In sickness and in health, Israel’s medical technology companies are here for you
The entrepreneurial ecosystem in Israel creates opportunities for start-ups to become advanced, commercially viable, and promising businesses.
Jeremy Ungar
As proof of the development, five years ago the life science exports, as an industry, reached $8.5 billion. To date, it is still growing with a rich pipeline of seed companies that promises to perpetuate this trend. These companies need partners around the world and the Israel Trade and Economic Commission is arranging a local delegation of Australians at MEDICA 22 to meet with the Israeli industry.
The Israeli health tech. sector now has more than 1,000 companies targeting various fields of medicine: Cardiology, Oncology, Neurology, Emergency Medicine, Rehabilitation, Ophthalmology, Gastrointestinal, Orthopedics and Sports Medicine, Women’s Health, Pain and Wound Management, Dermatology, and Aesthetics.
Of the health tech. sector, the largest portion is classified as Medical Devices and Digital Health (over 70 percent of companies). This is a result of Israeli scientists and engineers integrating multidisciplinary 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.
In Israel, there is not enough demand domestically, so there are now over 600 medical device exporters engaged in a variety of medical applications such as Cardiovascular and Peripheral Vascular, Neurology and Degenerative Diseases, Preparedness and Emergency Medicine, Intensive Care, Women’s Health, Orthopedics, and Sports Medicine, Gastrointestinal, Infection Control, Ophthalmology, Pain and Wound Management, Oral and Dental Care, Dermatology and Aesthetics.
The digital era has also assisted growth in the industry, opening tremendous opportunities to deliver healthcare services to patients in the comfort of their homes or wherever they are, through any web or mobile device, without requiring the presence of a healthcare provider in the loop. For millions of people living in remote communities, far 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.
We can now cluster Telemedicine, mHealth, Wearables, Remote Monitoring, Electronic Medical Records, Big Data Analytics, the Internet of Medical Things, Medical Apps, and others into Digital Health or the Health Information Technologies industry. The 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, putting Israeli expertise in international demand. And there are over 450 Israeli companies in the field of Digital Health targeting different technology and therapeutic scopes.
The future is healthy for Israelis and countries with strong export ties to Israel and we expect continued growth. Our office is organising bespoke meetings at MEDICA 22 for Australians visiting and we encourage you to review the 40 Israeli companies exhibiting for partnership discussions: https://israeltrade.org.au/2022/08/30/medica-2022/ and then reach out to us for arrangements on the ground.
Jeremy Ungar works for The Israel Trade Commission in Sydney, which operates under the Foreign Trade Administration, Israeli Ministry of Economy and Industry. He is assisting startups and companies enter and expand in the Australasian market through raising capital, executing strategic projects, international delegations, targeted relationship building, strategic events and technology scouting.
