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The Medical Device Market: Iran
Espicom Business Intelligence Ltd, Oct 2011, Pages: 50
The Islamic Republic of Iran forms the eastern border of the Middle East and is bordered by Iraq, Turkey, Pakistan, Afghanistan, Armenia, Azerbaijan and Turkmenistan. Iran boasts an estimated population of 75.9 million in 2011.
Government investment has resulted in an improved health sector, with modernised services and facilities being built annually. Ownership of hospitals is evenly split between the public and private/charity sectors but can be fragmented due to lack of co-ordination between agencies.
A series of Development Plans, spanning consecutive five-year periods from 1990, have aimed to rejuvenate Iran’s health sector by raising hospital bed and personnel numbers, building primary healthcare facilities, improving family planning and immunisation rates, focusing on care of the elderly and prevention of non-communicable diseases, reforming the state medical insurance scheme and social welfare systems in addition to attracting foreign investment. However, there is no firm evidence of the success of these measures.
The medical device market appears to have no coherent regulatory framework, and Iranian buyers are very thorough in evaluating products for purchase. It is therefore advised that overseas firms appoint a local agent with knowledge of relevant procedures.
Imports account for an estimated 88.1% of the market, despite the manufacture of basic consumable items such as syringes, needles & catheters, dental instruments & fittings and orthopaedic appliances. Imports were valued at US$591.7 million in 2009, with Germany and the Netherlands being the leading suppliers. Consumable medical devices and diagnostic imaging apparatus were the most significant import sectors.
Tense international relations, particularly with the USA, and the internal political situation in recent times has affected the market’s attractiveness in terms of foreign direct investment, but import growth has remained strong, mainly due to the country’s limited production capability. A large proportion of imports are procured from suppliers from the European Union (EU-27) which supplied 72.7% of the 2009 total.
In 2011, Iran’s medical device market is estimated to be worth US$765 million; however, the market size per capita is very low, at US$10. The market is projected to grow at a strong 7.1%, taking the market to US$1,079 million by 2016. Per capita spending however, is not expected to rise strongly over the same period.
Includes 3 quarterly updated outlook reports!
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