Iran Medical Devices Q1 2020
:Despite an increasingly challenging operating environment, the Iranian medical device market will record high double-digit growth over the 2018-2023 period. The market will benefit from stabilising economic growth as the initial ‘shock’ impact ofsanctions fades and base effects become more favourable in 2020. We expect Iran to continue prioritising local production of someequipment whose imports have been restricted by the US government, supporting market growth. However, the sustaineddepreciation of the rial and rising difficulties to import crucial raw materials for medical device production are causing price spikes inlocally produced supplies. Nevertheless, the governments prioritisation of current spending, most notably on core welfareprogrammes, and the subsidisation of basic goods imports will drive medical device import growth in the medium term.
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