Why Israel is poised to soon lead medical device industry growthSep. 15, 2013
The size of New Jersey, Israel boasts thousands of new engineers graduating from the Israeli Defense Forces each year and a history of investment in high-tech R&D (research and development). Readily available intellectual talent and capital has made Israel a booming hub for the medical device industry.
As of August 2013, Israel is reportedly home to approximately 700 medical device companies while also accumulating the most medical device patents per capita in the world. Further strengths of the Israeli medical device industry include professional interdisciplinarity (high expertise in other relevant fields for many devices, like medicine or electronics), high flexibility in the industry (accommodating changes in the economy or regulatory environments), and a strong imaging sub-sector.
The strength of Israel’s medical device industry positions the industry to leverage new emerging markets in India and China. With hundreds of companies fueling innovation in their development stages, the country’s industry is poised to provide more effective products for equal or lower costs.
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