Israel has grown to be a global medical device innovation hub over the past couple of decades, largely due to the easy access to technical and clinical research centers, sufficient R&D funding and numerous collaborative clinical research initiatives. Owing to such an excellent infrastructure setup, the country has grabbed the early-mover advantage in commercialising several safe and effective medical device technologies such as surgical laser systems, smart pills and robotic surgery to address major disease burdens globally.
Medical sector companies are also drawn to Israel for its:
• plethora of scientific resources;
• globally competitive intellectual portfolio management practices;
• access to global investor networks; and
• extensive knowledge base on commercialising cutting-edge technologies.
“Tel Aviv and Herzliya have some of the biggest technology investment companies within Israel that continue to fund clinical development and commercialisation of a range of medical device technologies,” noted Frost & Sullivan Industry Analyst Arjunvasan Ambigapathy. “Yokneam and Caesarea are emerging destinations and boast major domestic technology developers such as ReWalk Robotics and Microbot Medical, which are eminent innovators in the area of neuroprosthetic devices.”
Israeli Technologies Impacting the Global Medical Sector, recent research from Frost & Sullivan’s TechVision (Medical Devices & Imaging) Growth Partnership Service program, examines some of the major medical device technologies in Israel, including neuroprostheses, X-eluting stents, smart pills, surgical robotics, surgical lasers and neuromodulation therapies.
For complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan’s thought leaders please contact Jana Schoeneborn (jana.schoeneborn[.]frost.com).
Despite the favorable R&D environment, most Israeli innovators find commercial success only by expanding into global markets, and this requires considerable funding and vast skill sets. Furthermore, Israel's neuromodulation industry is becoming increasingly vulnerable to the competition posed by multinational pharmaceutical companies.
“There has been a rise in the number of patent infringements cases in the country's neuromodulation industry,” noted Ambigapathy. “To combat this, neuromodulation therapy developers are being encouraged to collaborate with foreign clinical research institutions and expand their application scope to broader spinal cord areas.”
Lastly, therapy manufacturers will benefit from the presence of a globally reputed medical advisory board, and they can also leverage advisory services offered through investors. Resources available for innovators include legal services, accounting, investor networking, incubators and foreign investments.
Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision program, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision program is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth.
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Israeli Technologies Impacting the Global Medical Sector / D7A4-TV
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