Iran Medical Devices Q3 2019
The Iranian medical device market will record high double-digit growth over the 2018-2023 period, but it will expand at aslower rate in US dollar terms due to local currency depreciation. We expect the Iran economy to slide deeper into recession thin2019 as exports and investment decline. The government will prioritise current spending, most notably on core welfareprogrammes and the subsidisation of basic goods imports, driving medical device import growth in the medium term. However,capital spending is likely to decline substantially which will weigh on healthcare infrastructure development projects. Despite this,we expect Iran to prioritise locally production of some equipment whose imports have been restricted by the US governmentsupporting market growth.
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