Economy, Domestic Economy

Medical Equipment Exports Up 18%

Europe is the biggest market for Iranian medical devices.Europe is the biggest market for Iranian medical devices.

Iran exported $17 million worth of medical devices during the fiscal 2016-17, registering an 18% increase year-on-year, an official with Iran Trade Promotion Organization said.

Mohammad Reza Modoudi also said Europe is the biggest market for Iranian medical devices, Mehr News Agency reported.

“Currently, Iran has some 500 medical device production units, producing over 800 types of medical devices to supply the domestic as well as foreign markets,” he said.

He called for government support and the active participation of Iranian manufacturers in international exhibitions to increase exports.

The Iranian medical device market is expected to expand by 9.1% compound annual growth rate to 2018, according to Business Monitor International research group.

In 2013, Iran’s medical device market was estimated to be worth $832.5 million.

BMI has also predicted that Iran’s medical device market would reach $1.28 billion in 2018.

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