According to data released last week by the Israel Export and International Cooperation Institute (IEICI), the life sciences industry – which includes the pharmaceutics and medical equipment fields – recorded a 7% rise in exports in the first quarter of 2009, to a level of $1.5 billion.
The contribution to the rise in exports was provided by the State of Israel's exports of medications, which rose by 27% in the first quarter of 2009 to a level of $1.2 billion, while the medical equipment field saw a 25% drop in exports to $316 million.
According to IEICI economists who conducted the review ahead of the 2009 ILSI-Biomed Israel conference, 2009 is expected to see an ongoing moderate growth of 2-3% in exports in the life sciences field, totaling $6.7 billion. The rise is mainly the result of the ongoing growth in pharmaceutical exports.
The life sciences field in Israel is considered a centralistic field in terms of its activity structure. Israel has 280 exporting companies in this industry, but only 33 of them export for more than $10 million, 53 export for $2-10 million, and the rest export at smaller volumes.