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Iran Pharmaceuticals and Healthcare Report Q3 2008Published by: Business Monitor International Published: Sep. 15, 2008 - 69 Pages Table of Contents
AbstractIran’s pharmaceutical market was estimated to be worth IRR17,278bn (US$1.87bn). Over the five-yearforecast period, we expect drug expenditure to grow by an average of 14.8% year-on-year (y-o-y) in localcurrency over the forecast period to reach IRR34,494bn (US$3.52bn) by the end of 2012. The highnominal growth is largely a result of high inflation, which we expect to average 18% y-o-y over theforecast period. Indeed, it masks our relatively poor assessment of the growth prospects in the market,which should be beaten by both inflation and nominal GDP growth.Despite relatively gloomy prospects for value growth, we expect strong volume growth in the market onaccount of an expanding population and strong government sponsored healthcare programmes. Indeed,we expect the use of generics to increase further over the forecast period, gaining a further threepercentage points (pps) in terms of drug market share between 2008 and 2012. In BMI’s updated Business Environment Ratings for Q308, Iran is ranked in ninth position out of 13countries in the Middle East and Africa (MEA). Its large pharmaceutical market provides opportunitiesfor drugmakers. However, a risky regulatory environment creates challenges for companies operating inIran, especially foreign drugmakers. While foreign direct investment (FDI) in Iran’s pharmaceutical industry remains limited due to politicaluncertainty, a number of domestic drugmakers have demonstrated they are still capable of developing andmanufacturing relatively sophisticated products. In May 2008, Exir began producing hepatitis Ctreatment interferon gamma under the brand name Gamma Immunex. Iran’s healthcare system is strong in terms of population coverage - with at least 90% of the populationhaving access to healthcare. Rural access remains patchy at present, however strong investment inhealthcare infrastructure, including 5,000 additional hospital beds in the country during 2006 and 2007and a commitment to increase the number of doctors serving in rural areas should boost access tohealthcare further over the forecast period. Get Full Details About This Report >> |
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