BMI View: Iran will remain an attractive market in the region due to its large size, but it will register low growth in US dollar terms, due to the depreciation of the rial. With a deal over the country's nuclear activity reached in July 2015, the easing of international sanctions should see a rise in imported medical devices into Iran during 2016 . We do not expect a sharp rise, however, as import growth will likely be tempered by lower oil prices and the country's lack of investment over the past decade.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We forecast that the market will expand by a 2014-2019 CAGR of 4.7% in US dollar terms, down from a 2009-2014 CAGR of 5.6%, taking the value to USD1,110.2mn in 2019. The much lower US dollar growth rate reflects the continued forecasted depreciation of the rial, as the currency remains sensitive to developments in nuclear negotiations in the coming quarters.
The market will remain import reliant, despite the manufacture of products such as syringes, needles & catheters, dental instruments & fittings and orthopaedics. The latest collated monthly mirror trade data show that imports in the three months to August 2015 grew by 8.1% in US dollar terms to USD239.1mn. Imports in the year to August 2015 rose by 3.7% in US dollar terms to USD834.7mn.
Exports will remain low and fluctuate considerably. The latest collated monthly mirror trade data show that exports decreased by 45.2% in US dollar terms to USD1.3mn in the three months to August 2015. In comparison, exports in the year to August 2015 rose by 15.8% in US dollar terms to USD9.3mn.
The lifting of almost all sanctions on Iran's economy during 2016 will herald a new era for the country and see substantial growth rates over the coming decade. There will be a notable immediate impact on the oil market, benefitting the economy. Over the long-term, Iran's healthcare market will benefit from greater multinational interest as foreign manufacturers will look to expand their business operations.
The Iran Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Iran provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Iran Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Iran, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Iran.
- Target Business Opportunities in the Iran Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Iran.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.