Israel has achieved world recognition as a leading source of innovative life science technologies and products. This is a testament to Israel’s strong entrepreneurial spirit and high educational standards. Israel is:
- home to 140 engineers and scientists per 10,000 people in the work force, highest ratio in the world (1)
- world leader in medical device patents per capita (2)
- #4 in registered patents of new molecules per capita (3)
- #6 in scientific publications per capita (4)
By integrating advanced technologies in medicine, biology, electronics, communications, and electro-optics with scientific knowledge, Israeli engineers and scientists have created world-class innovations in the areas of digital imaging, medical lasers, electro-medical devices, telemedicine, surgical equipment, diagnostic kits, rehabilitation equipment, therapeutic devices (implantable and disposable), and more. A short list of Israeli life science breakthroughs include:
- PillCam™, a video capsule endoscope (developed by Given Imaging – NASDAQ:GIVN)
- Cryotherapy for the treatment of cancer (developed by Galil Medical)
- 8-Slice CT Scanner and Gamma Camera (GE Medical in Israel)
- Nir Stent (Medinol)
- Blockbuster drugs for multiple sclerosis Copaxone (marketed by Teva) and Rebif (marketed by Merck Serono)
- MRI-Guided non-invasive surgical procedures (Insightec)
Israel has developed a well-oiled eco-system that supports the success of young life science companies. Elements of this eco-system include a nationwide network of technology transfer organizations; a healthcare system that supports early adoption of new technologies; strong governmental incentives for the development of new technologies; defense spending on advanced life science applications; and a strong venture capital community focused on life sciences.
The high potential of Israel’s life science sector has been further illustrated by its record of numerous successful M&A transactions.
See the Invest in Israel website for further information.
(1) IMD yearbook 2007; (2)(3) USPOT; (4) E&Y’s Beyond Borders 2007 analyzed by MOITAL