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Iran Pharmaceuticals and Healthcare Report Q2 2008Published by: Business Monitor International Published: Apr. 22, 2008 - 65 Pages Table of Contents
AbstractIran’s pharmaceutical market was estimated to be worth US$1,794mn in 2007, making it large in regionalterms. However, per capita pharmaceutical consumption remains significantly lower than in many neighbouring Gulf states - standing at just US$25 in 2007. Access to quality healthcare, particularly in rural areas, remains a problem that will continue to hold down overall drug consumption over the forecast period. BMI expects the drug market to average 8% year-on-year (y-o-y) growth to reach a value of US$2,622mn by 2012. Government policy is weighted towards generics and Iranian-made medicines are more likely to be reimbursed. Foreign drug- and medical device-makers tend to steer clear of a direct presence in Iran, with most limiting themselves to import businesses in partnership with local distributors. Many companies conduct their business via Gulf states such as the UAE. Iran remains in tenth place in BMI’s updated Business Environment Rankings table for the Middle East and Africa (MEA) out of 14 markets surveyed. Its business environment is considered one of the more risky in the region because of its frosty relationship with the West and biased pharmaceutical regulatory regime. However, in terms of scale, the market offers good prospects for companies willing to take on these risks. Iran’s healthcare system is strong in terms of population coverage - with at least 90% of the population having access to basic healthcare. Government efforts to increase standards in rural areas - including plans to require that doctors take postings to rural areas after completing training - should push the level of healthcare coverage closer to 100% over the forecast period. Hospitals remain the primary access point for pharmaceuticals and, as a consequence, the prescription drug market is expected to remain dominant. Having said this, domestic manufacturers have shown an ability to develop herbal medicines, which could translate into a boost for the over-the-counter (OTC) drug market. Indeed, herbal medicines that have been developed in Iran are being well received on export markets, particularly in Central and Eastern Europe and North Africa. Get Full Details About This Report >> |
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