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Israel Cardiovascular Devices Market Competition Forecast & Opportunities, 2028

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  • 78 Pages
  • August 2023
  • Region: Israel
  • TechSci Research
  • ID: 5877706
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Cardiovascular devices are the medical devices which are designed to diagnose, treat, or manage various conditions related to heart and blood vessels such as arrhythmia, unstable angina, heart attack, heart failure, valve disease, congenital heart conditions, inherited heart conditions, and others

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Cardiovascular devices are the medical devices which are designed to diagnose, treat, or manage various conditions related to heart and blood vessels such as arrhythmia, unstable angina, heart attack, heart failure, valve disease, congenital heart conditions, inherited heart conditions, and others. They can also be used for cardiac imaging, such as echocardiography and angiography. Some of the most common cardiovascular devices include pacemakers, implantable cardioverter-defibrillator (ICD), coronary stents, heart valves, cardiac monitors, blood pressure monitors, cardiovascular imaging equipment, and more. Israel is ranked at second position across the world as it has over 1,000 medical devices manufacturing companies with new ones entering each year. There is a noticeable increase in the prevalence of chronic disease cases among the population of Israel which accounts for most of the people getting diagnosed with cancer, cardiac disorders, and diabetes. Rising demand for various cardiovascular devices due to increase in instances of cardiac diseases in Israel is expected to register an impressive growth to Israel cardiovascular devices market. Developing medical tourism of the country which is leading to increase in number of surgeries performed in hospitals of Israel is also expected to propel the growth of the market. Moreover, developing healthcare facilities of the hospital and technological advancements associated with cardiology in the country is also expected to drive the cardiovascular devices market in upcoming years. Growth in mortality rate of the country caused by prolong diseases is also expected to bolster the growth of cardiovascular devices market in Israel during the forecast period. Development of various unhealthy habits including consumption of alcohol and smoking cigarettes, among others is also going to boost the market growth in future.

Increasing Prevalence of Cardiovascular Diseases

Growing instances of cardiac disorders, cancer, and diabetes are leading to the development of healthcare facilities in Israel. Heart attack, heart failure, valve disease, stroke, heart rhythm disorders, peripheral artery, and vein diseases are some of the common cardiac diseases increasing the mortality rate in Israel. Moreover, the inhibition of unhealthy habits by people of the country such as eating unbalanced diet, hypertension, physical inactivity, and consumption of alcohol is leading to the rising prevalence of cardiovascular diseases among them. According to the report, Current Status of Cardiovascular Medicine in Israel published by AHA Journal in 2020, it has been observed that 10.2% of Israeli men and 7.1% of Israeli women get affected by cardiac diseases every year with a prevalence of coronary artery disease of 7.5% and 4.1%, respectively. Healthcare system of Israel is emphasizing on improvement of its research and development department to cure heart related problems prevailing in the country by introduction of new technologies and medical devices every year. Some of the cardiovascular devices which are used by healthcare centers in Israel comprises of cardiac pacemakers, cardiovascular angioplasty devices, stents, prosthetic heart valves, and others. As per the report published by AHA Journal, In Israel, approximately 25,000 hospitalizations occur because of myocardial infarction each year. 43,000 patients have coronary angiograms annually, and 23,000 patients undergo percutaneous coronary interventions. The ratio of percutaneous coronary interventions to coronary bypass graft surgery is 8:1, one of the highest in the world. The use of transcatheter techniques for valve replacement (aortic) or repair (mitral) is very abundant in the country which is making Cardiac Ablation Catheters to be most prevailing cardiovascular device in Israel. Growing assistance of cardiovascular devices in treatment of heart problems among every region of the country is expected to propel the growth of Israel cardiovascular devices market in the forecast period.

Development of Medical Tourism and Increase in Number of Surgeries

Medical tourism of Israel is rank at eighth position across the world due to its technologically advanced treatments and highest quality healthcare systems. This is leading to increase in number of surgeries performed in medical centers of Israel with every passing year. Among all the surgical procedures, coronary bypass surgery is the most common procedure performed by doctors in the country every year followed by angioplasty. According to the data published by Israel Journal of Health Policy Research in 2021, thousands of heart operations are performed every year in Israel. In 2018, 2538 coronary bypass procedures were successfully completed followed by 1,534 valve procedures, and 686 other heart operations in adults which accounts for an estimate of approximately 4,800 operations per year. The different kinds of cardiovascular devices used in carrying out heart-related surgical procedures surge the market’s growth and demand.

Technological Advancements

Healthcare department of Israel is growing with an immense rate every year and is making new technological innovations in their medical system to improve their surgery performing skills. Israel has been successful in developing a biodegradable polymer stent that dissolves completely within a few months or years inside the human body without causing any harm to the patient in their future life. Moreover, synthetic valves are being designed that can be implanted using catheters without the need of any surgical procedure. These undergoing developments in cardiology department and advancement in the use of medical devices is further expected to boost the growth of cardiovascular device market in Israel during the forecast period.

Growth in Mortality Rate

Prevalence of chronic diseases is the major cause behind the increasing rate of mortality in Israel. Among all the heart related diseases, ischemic heart disease and coronary heart disease are the primary causes of death in Israel with a recognized set of risk factors. According to report published by World Health Organization (WHO) in 2020, deaths caused by coronary heart disease in Israel reached 5,122 which accounted for 14.57% of total deaths. The age adjusted Death Rate is 34.58 per 100 thousand of population. To reduce the number of deaths caused by cardiac diseases in the country healthcare sector of Israel is making improvement in their surgical techniques by making use of advanced cardiovascular devices which is propelling the growth of Israel cardiovascular devices market.

Increasing Number of Smokers

Smoking cigarettes is one of the major risk factors which is leading to the development of cardiovascular diseases among people in Israel. Smoking increases the formation of plaque in blood vessels. When arteries that carry blood to the heart muscle are narrowed by plaque or blocked by clots, it leads to coronary heart disease in human body. Chemicals in cigarette smoke cause the blood to thicken and form clots inside veins and arteries. According to the Minister of Health's 2020 report on smoking in Israel, it was found that 20.1% of the adult population over the age of 21 years were identified as smokers. 25.6% of men smoke cigarettes every day in Israel which is higher than Israeli women that accounts for 14.8% of total women population. Arab men smoke more than Jewish men, 38.2% and 22.6% respectively, while Jewish women smoke more than Arab women, 15.8% and 10.2% respectively. Rise in rate of smokers among the population of country is leading to the growth in prevalence of cardiac disorders, which is further expected to bolster the growth of cardiovascular devices market in Israel in upcoming years.

Israel cardiovascular devices market is segmented based on type, application, end user, source, company, and region. In terms of type, the cardiovascular devices market is categorized into diagnostic & monitoring devices and surgical devices. Based on, application, market is divided into coronary artery disease, cardiac arrhythmia, heart failure, and others. In terms of end user, the cardiovascular devices market is segmented into hospitals & clinics, diagnostic centers, and others. Based on source, market is fragmented into import and domestic.

Market Players

V-Wave Ltd., Filterlex Medical Ltd., Pi-Cardia Ltd., Endospan ltd., Cardiac Success Ltd., and Eximo Medical Ltd. are some of the key market players operating in the Israel cardiovascular devices market.

Report Scope

In this report, Israel cardiovascular devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Israel Cardiovascular Devices Market, by Type:

  • Diagnostic & Monitoring Devices
  • Surgical Devices

Israel Cardiovascular Devices Market, by Application:

  • Coronary Artery Disease
  • Cardiac Arrhythmia
  • Heart Failure
  • Others

Israel Cardiovascular Devices Market, by End User:

  • Hospitals & Clinics
  • Diagnostic Centers
  • Others

Israel Cardiovascular Devices Market, by Source:

  • Import
  • Domestic

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Israel cardiovascular devices market.

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Table of Contents

1. Product Overview2. Research Methodology3. Executive Summary4. Voice of Customer5. Impact of COVID-19 on Israel Cardiovascular Devices Market
6. Israel Hospital Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Diagnostic & Monitoring Devices, Surgical Devices)
6.2.2. By Application (Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure, Others)
6.2.3. By End User (Hospitals & Clinics, Diagnostic Centers, Others)
6.2.4. By Source (Import, Domestic)
6.2.5. By Region
6.2.6. By Company (2022)
6.3. Product Market Map
6.3.1. By Type
6.3.2. By Application
6.3.3. By End User
6.3.4. By Source
6.3.5. By Region
7. Israel Diagnostic & Monitoring Cardiovascular Devices Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type (ECG, Echocardiogram, Cardiac Monitor, Holter Monitor, Others)
7.2.2. By Application
7.2.3. By End User
7.2.4. By Source
8. Israel Surgical Cardiovascular Devices Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type (Stents, Pacemakers, Valves, Defibrillators, Other)
8.2.2. By Application
8.2.3. By End User
8.2.4. By Source
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments11. Policy & Regulatory Landscape12. Import-Export Analysis13. Pricing Analysis14. Israel Economic Profile
15. Competitive Landscape
15.1. Competition Outlook
15.2. Company Profiles
15.2.1. V-Wave Ltd.
15.2.2. Filterlex Medical Ltd.
15.2.3. Pi-Cardia Ltd
15.2.4. Endospan ltd.
15.2.5. Cardiac Success Ltd.
15.2.6. Eximo Medical Ltd
16. Strategic Recommendations17. About the Analyst & Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • V-Wave Ltd.
  • Filterlex Medical Ltd.
  • Pi-Cardia Ltd.
  • Endospan ltd.
  • Cardiac Success Ltd.
  • Eximo Medical Ltd

Table Information