Market Entry - Pen Needles Industry in Israel: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

The pen needles market has witnessed various technological advancements to cater to the growing demand for safety, with an aim to reduce pain, increase comfort, and most importantly reduce needle stick injuries (NSIs). Favorable reimbursement environment, government support in selected countries, advantages of insulin pens over syringes and vials, and growing diabetic population also drive this market. The 8mm pen needles segment is expected to account for the largest share of the market, by needle length, in 2016. The retail mode of purchase segment is expected to dominate the market, due to the increasing direct purchase of pen needles by customers at pharmacies, retail stores, mail orders, and online. Retail stores offer significant discounts on online/retail purchases and provide convenience to customers. The developed regions of Europe are expected to account for the largest share of the market, followed by other developing countries. Prominent players include Becton, Dickinson and Company, Novo Nordisk A/S, Ypsomed Holdings AG, Owen Mumford Ltd., HTL-STREFA S.A., B. Braun Melsungen, Terumo Corporation, UltiMed Inc., Allison Medical Inc., and Artsana S.P.A.

About the Geography

Israel is a small country located in the Middle East bordered by Egypt, Jordan, Lebanon, and Syria. Israel has a liberal investment system and most activities are open to both private nationals and foreign investors. It has many tech start-ups, funded by America, a strong R7D sector, and a highly skilled multi-lingual workforce.

The government encourages entrepreneurship and the country is the second largest regarding the availability of venture capital. The recent revision of Encouragement of Capital Investments Law now includes financial incentives for foreign investments. Israel is bordered by countries with on-going wars and terrorist activities, which act as a major impediment for foreign investors. It also has high corporate taxes and cost of manpower.

Israel invests almost 5% of its GDP in R&D and has many highly qualified engineers with access to funds. For these reasons, Israel is a good country to invest in if a company wants to set up an R&D wing, branch office, or LLC.

 

Component Name

Unit

GDP (USD billion)

296

GDP Annual Growth Rate

3.2

GDP Per Capita

32828

Unemployment Rate

4.6

Wages

2563.21

Inflation Rate

-0.7

Consumer Price Index (CPI)

99.2

Interest Rate

0.1

Loans to Private Sector (USD billion)

150.026

Balance of Trade (USD billion)

-1.899

Business Confidence

19.2

Manufacturing PMI (Index Points)

57 Index Points

Ease of Doing Business

53

Competitiveness Rank

24

Corruption Rank

32

Consumer Confidence

-14.51

Consumer Spending (USD billion)

41.537

Bank Lending Rate (Consumers)

3.4

Corporate Tax Rate

26.5

Sales Tax Rate

18

            

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Pen needles Industry (USD millions)

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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