TEL AVIV, Israel--(BUSINESS WIRE)--Start-Up Nation Central released a report highlighting Israel’s digital health industry towards MIXiii BIOMED 2017, Israel’s premier international life science conference and exhibition, May 23-25, 2017, Tel Aviv. The detailed report describes the current status of the digital health industry in Israel, including its subsectors (Health Analytics, Telemedicine, Clinical Workflow, Wearables & Sensors and Personal Health Tools), the number of companies and investments in each subsector, the active incubators and accelerator in the field and more.
The digital health sector worldwide, as well as in Israel, is rapidly transforming passive patients into active healthcare consumers. This global trend of patient empowerment resulted in Personal Health Tools becoming the largest subsector in recent years. Israel’s unique capabilities in information, communication, mobile, and cyber technologies, together with more than 25 years of expertise in implementing health IT, electronic medical records, and business analytics, offers Israel the opportunity to become a truly influential player in the global digital health arena.
According to the report, the Israeli digital health sector grew significantly in 2016, in both funding and number of companies. The total investment in 2016 was $183 million, an increase of almost 30% compared to 2015 ($144 million). Personal Health Tools and Health Analytics accounted for over 70% of deal volume in 2015 and 2016. The Health Analytics subsector, pertaining to companies that collect and analyze data to solve medical problems for businesses and consumers, received the most funding in the past two years: $84 million in 2015 (59% of total investments), and $58 million in 2016 (32% of total investments). Another subsector that received considerable funding in 2016 is Clinical Workflow: $55 million (30% of total investments). This subsector includes companies that enable hospitals, clinics, labs, and other healthcare stakeholders to work more efficiently. Also the Wearables & Sensors subsector received considerable funding in 2016: $46 million (25% of total investments).
According to the report, the number of digital health companies in Israel has risen substantially in recent years, reaching a total of approximately 385 companies. The Personal Health Tools subsector has skyrocketed, becoming the most prominent subsector, with 174 companies (45% of the sector). This subsector includes companies that provide end-users with software-based tools to track, manage, and even treat their own health conditions. The second largest subsector is Health Analytics with 85 companies. These companies play an important role in the ability to predict, prevent, diagnose and treat medical conditions.
As the Israeli digital health sector concentrates on patient empowerment, the borders between subsectors begin to blur, converging under Personal Health Tools. Wearables, sensors, big-data analytics, and telemedicine platforms integrate to form powerful B2C and B2B2C healthcare products. The data collected from wearables and sensors is being leveraged more and more by the rapidly-growing market of Health Analytics and Personal Health Tools software. The user is not only tracked and monitored passively, but receives real-time feedback, turning him/her into an active participant in the process. In sum, the various subsectors are becoming more interconnected, centering on individuals and empowering them.
Guy Hilton, Chief Marketing Officer, Start-Up Nation Central, stated, “With one of the most advanced healthcare systems in the world, coupled with extensive experience in the areas of information, communications and cyber, Israel has become in recent years a promising center for technologies that analyze and process medical information. These technologies enable institutions and health consumers to effectively and creatively address substantial challenges, and as such, play a significant role in shaping digital health. Most of the investments in Israel in the past two years have focused on these technologies, while the global industries have focused on other areas. Furthermore, since many of the solutions developed in Israel are based on software and target the end-user, they can be widely implemented. Taking advantage of these trends can position Israel as a meaningful player in the global healthcare industry.”
Ruti Alon, MIXiii BIOMED Co-Chairperson and CEO and Founder, Medstrada, said, “The positive trend of growth in the digital health industry in Israel, as evident from the report, is indeed encouraging. In order to fully realize the potential of the technologies in this field, there is a need to understand global healthcare systems and markets. To this end, the Biomed conference offers a perfect platform for meetings and networking between researchers, physicians, senior executives in hospitals and life science companies, academia and industry from Israel and around the world. Among the co-organizers of the conference are the Cleveland Clinic and the Mayo Clinic, both among the leading medical centers in the US and worldwide. In addition, we are expecting delegations from East Asia and Europe. One of the main subjects this year is aging and age related diseases. Today, healthcare systems focus especially on the area of trauma and sicknesses relating to the elderly. Most of the companies presenting at the conference in general, and specifically in the digital health track, will try to address the needs and solves problems relating to the treatment of this group.”
Dr. Benny Zeevi, MIXiii BIOMED Co-Chairperson and Managing General Partner, Tel Aviv Venture Partners, commented, “Digital health will dramatically change the way in which we consume and receive healthcare services, leading to better medical results and substantial savings in healthcare expenses. Israel as a leader in information, communication and cyber technologies, with more than 25 years of experience in implementing information systems and analysis in its public healthcare system, an openness and willingness on behalf of its hospitals and HMOs to implement these technologies, and close to 400 digital health companies, has the potential to be a world leader in this industry. The companies in this sector have to prove that they bring true value to healthcare systems by preforming controlled clinical trials, just like any other medical product.”
The full report can be downloaded in the following link: http://bit.ly/dhreportd
About MIXiii BIOMED
MIXiii BIOMED is Israel’s leading international life science conference and exhibition, to take place on May 23-25, 2017 at the David InterContinental Hotel in Tel Aviv. For the 16th consecutive year, MIXiii BIOMED is the largest meeting place for healthcare professionals from Israel with international colleagues and partners. As such, this world-class event presents an opportunity for global participants to experience Israel’s life science innovation and vibrant biomedical industry at its best. Previous successful conferences hosted over 6,000 industry players, scientists, engineers and investors including more than 1,000 attendees from over 45 countries. Hundreds of Israeli life science companies will present and exhibit their products, services and technologies allowing for hands-on experience.
In addition to offering a unique opportunity to learn about the latest innovations and technologies of the Israeli life science industry, one of the conference’s main subjects this year is Aging and age related diseases. Some of the topics that will be presented are: The impact of aging on population health and world economy; Longevity: genetics and epigenetics; Precision diagnostics and medicine; Regenerative and cell therapy; Robotics and aging; Age related diseases: cancer, neurodegenerative diseases, diabetes, CHF, hypertension and more; Health IT, digital health and cybersecurity; Continuum of care for the elderly patient; From Academia to Industry as related to aging and age related issues.
This year the conference’s group of organizers has been expanded to include various leading international healthcare institutions such as the Cleveland Clinic and the Mayo Clinic, with the objective of enhancing the exposure of the Israeli industry to key global opinion leaders and experts, and allowing local and international attendees to mix and exchange knowledge and ideas. Israel’s leading medical centers, including Tel Aviv Sourasky Medical Center, Sheba Medical Center at Tel Hashomer, Hadassah Medical Center and Rambam Health Care Campus, have also joined the effort. In addition to IATI and Kenes Exhibitions, and with the aim of continuing to increase the flow of investors in the Israeli biomed industry, OurCrowd, the world's largest crowd funding organization, has been added as a co-organizer. And finally, Start-Up Nation Central, which connects between global entities and companies and Israeli innovation, has also joined the team. For additional information, please visit our website at: http://kenes-exhibitions.com/biomed2017/