Israel Flu Diagnostic And Treatment Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Flu (Type A, Type B), By Offering (Diagnostics (Rapid Influenza Diagnostic Test, Rapid Molecular Assay, Others), Therapeutics), By Age Group (0-14 Years, 15-64 Years, >=65 Years), And By End-User (Hospital Laboratory, Outpatient Clinic, Reference Laboratory) - Forecasts From 2022 To 2027

The Israel flu diagnostic and treatment market is projected to grow at a CAGR of 10.12% throughout the forecast period and reach a market value of US$355.282 million by 2027. The market was valued at US$180.975 million in 2020.

The market for flu diagnostics and treatment in Israel is poised to surge at a noteworthy rate during the next five years as Israel is one of those nations with a high focus on healthcare. The country’s spending on public healthcare is comparatively higher than in other countries in the Middle Eastern region. Furthermore, the highly advanced and state-of-art healthcare system of the country offers universal coverage of healthcare to the entire population of the country. All these factors are collectively contributing to the flu diagnostic and treatment market growth in Israel during the next five years.

Growing cases of flu outbreaks

The continuous intense outbreaks of seasonal flu across the country are also one of the prime factors which are supplementing the market growth in Israel throughout the forecast period and beyond. During the flu season 2019/2020, the multi-annual average weekly rate of visits due to influenza-like illness was considerably high, according to the Israel Ministry of Health. This, in turn, is also projected to drive the demand for treatment and diagnostic services in the country and add up to the market’s growth significantly.

Furthermore, the incidence of seasonal influenza in the country is expected to continue over the coming years, which is anticipated to propel the growth opportunities for the market to surge throughout the forecast period and beyond.

Advancements in private healthcare

Furthermore, the rising private healthcare expenditure will also be observed in the coming years. This, in turn, is anticipated to boost the demand for better healthcare services. This, in turn, is further projected to drive the demand for more advanced treatments and testing procedures, thereby positively impacting the growth of the Israel flu diagnostic and treatment market during the next five years. For instance, according to data by the Israel Central Bureau of Statistics, the proportion of private spending reached 40%. Similarly, the presence of a world-class private healthcare sector is also considered an important factor for the market to surge in the coming years.

The Israel flu diagnostic and treatment market has been segmented based on the type of flu, offering, age group, and end-user. Based on the type of flu, the market has been classified into type A and type B. By offering, the market has been segmented into diagnostics and therapeutics. The market has been divided into three age groups: 0-14 years, 15-64 years, and >=65 years. By the end-user, the segmentation has been done on the basis of the hospital laboratory, outpatient clinic, and reference laboratory.

Key Developments

April 2020: An AI-powered system developed by Maccabi Healthcare Services, a renowned Israeli healthcare provider, has been put into use to identify those who are suspected to be most at risk of developing serious COVID-19 issues due to underlying medical disorders and other circumstances. Following examination of all Maccabi patients' anonymized electronic health records (EHRs), the new algorithm has already identified the top 2 percent of highest-risk patients (about 40,000 people).

April 2020: Israeli company Diagnostic Robotics announces a partnership with the State of Rhode Island to introduce an AI platform for remote COVID-19 assessment and monitoring. In order to reduce the spread of COVID-19, and support the healthcare system, the company is making it simpler for people to decide how to protect themselves and when to seek care and testing.

COVID-19 Impact on the Israel Flu Diagnostic and Treatment Market

The COVID-19 pandemic resulted in the implementation of significant lockdown and social distancing regulations. This led to an initial decrease in influenza cases in the region. However, influenza cases increased significantly around September-October 2021, according to research by Frontiers. This led to a significant increase in technological development and demand for the flu diagnostic and treatment market.

Israel Flu Diagnostic and Treatment Market Scope:

Segmentation

• By Type of Flu
  • Type A
  • Type B
• By Offering
  • Diagnostics
    • Rapid Influenza Diagnostic Test
    • Rapid Molecular Assay
    • Others
  • Therapeutics
• By Age Group
  • 0-14 Years
  • 15-64 Years
  • >=65 Years
• By End-User
  • Hospital Laboratory
  • Outpatient Clinic
  • Reference Laboratory