Iran Medical Devices Q4 2019
The Iranian medical device market will record high double-digit growth over the 2018-2023 period. We expect the Iraneconomy to slide deeper into recession in 2019 due to the tightening of US nuclear-related sanctions. The worsening economicconditions, namely rising inflation and unemployment levels, could potentially lead to political instability, something that wouldfurther deter medical device firms planning to operate in the country. Despite this, we expect Iran to prioritise locally productionof some equipment whose imports have been restricted by the US government supporting market growth. Moreover, thegovernment will prioritise current spending, most notably on core welfare programmes and the subsidisation of basic goodsimports, driving medical device import growth in the medium term.
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