Iran medical device market growth above world average

January 30, 2019

TEHRAN- The growth of Iranian medical device market is estimated at around 9.1% while the global growth average is about 6%, said the head of medical equipment office at Ministry of Health. 

According to Reza Masaeli, the global medical device market is expected to reach an estimated $430 billion by 2020, while the share of Iran is predicted to be around $7.2 billion, Mehr news agency reported on Wednesday. 

Approximately, there are around 500,000 types of medical devices in the world; while there are around 280,000 types in Iran. Furthermore, there are 20,000 kinds of drugs in global market, while only 3,000 kinds are available in the country, said Masaeli. 

According to Masaeli, out of the 280,000 types of medical devices in the country, 33,000 types are “in vitro diagnostic device (IVD)”, 89% of which are imported into the country and the rest are homemade.

An IVD medical device is defined as a device which, whether used alone or in combination, is intended by the manufacturer for the in-vitro examination of specimens derived from the human body solely or principally to provide information for diagnostic, monitoring or compatibility purposes.
He added that there need to be more groups and companies specialized at IVD manufacturing in the country so that they can provide the industry with necessary scientific knowledge.  

In October 2018, Masaeli announced that the country plans to increase its exports of medical equipment up to ten times to hit $240 million by the end of the current Iranian calendar year (March 20). 

According to him, exports of medical equipment stood at $24 million in the previous Iranian calendar year (ended March 20, 2018).

SJ/MQ/MG

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