Analysis of Healthcare sectors in Iran- Analysis of Growth, Trends and Forecast (2016-2021)
The Iranian healthcare industry was estimated to be worth USD 33,401 million in 2015, with a massive growth potential expected in the future. The Iranian healthcare industry can be compared a little to the country’s automobile and defense industries. The healthcare industry in Iran is very well developed, considering the sanctions imposed on the transfer of technology. Iran has a very young population, which means that the population is expected to increase significantly in the coming years, hence, increasing the scope for considerable investments in the sector. Currently, the healthcare spending in Iran is 6.7% of the GDP, which when compared to markets like India, is quite good. However, it has fallen from a high of 7.3% in 2010. The healthcare market in Iran is expected to witness an estimated CAGR of 5% during the forecast period.
Iran is one of the heavily populated nations of the world, with the population currently at nearly 80 million. It was once the less-populated country with around 22 million in 1960s. Since then, Iran has seen an incredible year-on-year population growth. It is the 17th most populated nation of the world. More than 85% of the population comes from the rural and deprived regions. Iran’s healthcare system is highly centralized. Majority of the healthcare services are taken care of by the public sector and the state.
Iranian healthcare devices market is highly import-dependent, with a majority being imported from the EU. This has resulted in an increase of foreign trade in Iran. Although the numbers increased considerably with nearly 31% in general healthcare and 35.4% in pharmaceuticals, the depreciation of Iranian Rial has been causing problems to the Iranian system, resulting in reduced import value
Medical tourism has become one of the most lucrative markets around the world. WHO estimates the global medical tourism market is valued at more than USD 100 billion. Although a relatively new concept, Iran is becoming one of the major medical tourism destinations across the globe. This can be attributed
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