Economy, Domestic Economy

Medical Equipment Exports

Medical Equipment ExportsMedical Equipment Exports

Close to $29 million worth of medical equipment were exported mainly to Syria, Iraq, Germany, Belarus and the UAE in the last Iranian year (ended March 20, 2015), says Mahmoud Bazari, an official with the Trade Promotion Organization of Iran.  Bazari added that the figure is significantly low considering the lucrative market for medical equipment in the region, the Persian daily Donya-e-Eqtesad reported. According to the official, Iran’s target markets for medical equipment in the region, including Iraq, Turkey, Afghanistan, Pakistan, Turkmenistan, Qatar, Armenia, Kuwait, Tajikistan, Georgia, Azerbaijan, Russia and Oman, imported $17 billion worth of medical equipment in 2014. He says the domestic medical equipment industry can meet up to 85% of the domestic demand, noting that the country “is firm on boosting exports and gaining a stronger foothold in overseas markets”. Bazari called on the government to further support the industry, as the high costs of company and product registration and establishment of company representatives in target markets are holding the industry back. “Currently, there are 590 medical equipment production units in the country with a combined annual turnover of $2 billion and direct employment of 18,000 people,” he added.