Espicom


The Medical Device Market: Iran

Published 19 December 2014

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The Medical Device Market: Iran

BMI Industry View: The Iranian medical device market ranks fifth in the Middle East and Africa (MEA) , valued at US$832.5mn. Per capita expend iture, however, is the sixth low est in the MEA, at US$11. The market looks set to expand at a solid 9.1% CAGR to 2018, but this growth could be affected if relations with the world's leading economies fall through over the country's nuclear enrichment policies.

Headline Industry Forecasts

  • In 2013, Iran's medical device market was estimated to be worth US$832.5mn. However, per capita expenditure is very low, at US$11. The market is projected to grow by a relatively moderate CAGR of 9.1% in US dollar terms, taking the market to US$1,284.3mn by 2018. Per capita spending is not expected to rise strongly over the same period.

  • Imports account for around 90% of the market, despite the manufacture of basic consumables such as syringes, needles & catheters, dental instruments & fittings and orthopaedics. Imports were valued at US$741.7mn in 2013, a rise of 0.4% in US dollar terms over the previous year. A large proportion of imports (67.1%) were procured from suppliers from the European Union (EU-27). Based on the latest collated monthly data, imports to year ending in June 2014 grew by 4.4%, reaching US$765.7mn.

  • Iran is not a major exporter of medical devices, therefore export performance tends to fluctuate considerably. In US dollar terms, exports fell by 21.1% over the previous year to US$7.6mn in 2013. Exports had a negative 3.9% CAGR from 2008-2013. Based on the latest collated monthly data, exports to the year ending in June 2014 rose by 12.5% to US$6.8mn.

Headline Industry Risk Rewards Ratings

  • Iran is the fifth least attractive market in the MEA region in which to commercialise a medical device, according to BMI's Medical Device Risk/Rewards Ratings (RRRs). The country's overall score for Q115 is 42.8 out of 100, unchanged from Q414. This compares to a regional average of 49.7 for the 14 key markets...

Table of Contents

Espicom Industry View
7
SWOT
9
Medical Device Market
9
Political
10
Economic
11
Business Environment
12
Industry Forecast
13
Medical Device Market Forecast
13
2008-2013 Performance
13
2013-2018 Performance
14
Table: Projected Medical Device Market, 2013-2018
15
Table: Detailed Medical Device Market By Product Area, 2008-2018 (US$mn)
16
Consumables Market Forecast
20
Bandages & Dressings
20
Suturing Materials
20
Syringes, Needles & Catheters
20
Other Consumables
21
Table: Consumables Market, 2008-2018 (US$mn)
21
Table: Consumables Market, 2009-2018 (US$mn % Change)
22
Diagnostic Imaging Market Forecast
24
Electrodiagnostic Apparatus
24
Radiation Apparatus
24
Imaging Parts & Accessories
24
Table: Diagnostic Imaging Market, 2008-2018 (US$mn)
25
Table: Diagnostic Imaging Market, 2009-2018 (US$mn % Change)
26
Dental Products Market Forecast
28
Capital Equipment
28
Instruments & Supplies
28
Table: Dental Products Market, 2008-2018 (US$mn)
28
Table: Dental Products Market, 2009-2018 (US$mn % Change)
29
Orthopaedics & Prosthetics Market Forecast
31
Fixation Devices
31
Artificial Joints
31
Other Artificial Body Parts
31
Table: Orthopaedics & Prosthetics Market, 2008-2018 (US$mn)
32
Table: Orthopaedics & Prosthetics Market, 2009-2018 (US$mn % Change)
32
Patient Aids Market Forecast
34
Portable Aids
34
Therapeutic Appliances
34
Table: Patient Aids Market, 2008-2018 (US$mn)
34
Table: Patient Aids Market, 2009-2018 (US$mn % Change)
35
Other Medical Devices Market Forecast
37
Table: Other Medical Devices Market, 2008-2018 (US$mn)
37
Table: Other Medical Devices Market, 2009-2018 (US$mn % Change)
38
Annual Medical Device Imports
40
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s)
44
Table: Medical Device Imports By Product Area, 2009-2013 (US$000s % Change)
45
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
46
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s % Change)
47
Table: Top 20 Medical Device Suppliers, 2013 (US$000s)
48
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (US$000s)
49
Table: Detailed Medical Device Import Trends By Product Area, 2013
52
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (US$000s)
55
Monthly Medical Device Imports
59
Table: Monthly Medical Device Imports By Product Area, September 2011 - March 2014 (US$mn)
59
Annual Medical Device Exports
61
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s)
64
Table: Medical Device Exports By Product Area, 2009-2013 (US$000s % Change)
65
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
66
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s % Change)
67
Table: Top 20 Medical Device Destinations, 2013 (US$000s)
68
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (US$000s)
69
Table: Detailed Medical Device Export Trends By Product Area, 2013
72
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (US$000s)
75
Table: Detailed Medical Device Trade Balance, 2009-2013 (US$000s)
78
Monthly Medical Device Exports
82
Table: Monthly Medical Device Exports By Product Area, September 2011 - March 2014 (US$mn)
82
Macroeconomic Forecasts
84
Economic Analysis
84
Table: Possible Scenarios As Diplomacy Advances
90
Table: Economic Activity (Iran 2009-2018)
90
Industry Risk Reward Ratings
91
Table: MEA Medical Device Risk/Reward Ratings, Q414
92
Market Overview
93
Medical Device Market Overview
93
Table: Medical Device Market, Key Ratios, 2013
94
Table: Medical Device Market By Product Area, 2013
94
Healthcare Overview
95
Health Status
95
Healthcare System
95
Healthcare Funding
97
Healthcare Resources
97
Healthcare Activity
98
Healthcare Personnel
98
Key Healthcare Data
99
Table: Key Healthcare Data, 2008-2013
99
Industry Trends And Developments
101
Industry Trends & Developments
101
Regulatory Development
104
Medical Device Regulations
104
Medical Device Pricing & Reimbursement
104
Competitive Landscape
105
Domestic Medical Device Manufacturing
105
National Medical Device Manufacturers
105
Multinational Medical Device Manufacturers
108
Multinational Market Activity
108
Table: Multinational Market Activity, 2014
108
Medical Device Market Access
109
Market Environment
109
Distribution
109
Trade Association
109
Trade Shows
109
Methodology
110
Medical Device Market Methodology
110
Trade Code Classifications
111
Table: Used HS Trade Codes, 2014
111
Table: Rearranged HS Trade Codes, 2014
113
Risk/Reward Ratings Methodology
116
Table: Medical Devices Risk/Reward Ratings Indicators, 2014
117
Sources
118
Contact
119
OVERVIEW OF THE MEDICAL MARKET IN IRAN

Espicom Industry View: The Iranian medical device market ranks fourth in the Middle East region, valued at US$766.5mn . Per capita e xpenditure, however, is the second lowest one in the region , at US$10 . The market has growth potential but o ngoing sanctions with both the USA and EU have affected the market's appeal. The weakening of the domestic currency, the rial, has also affected market growth.

Headline Industry Forecasts

  • In 2013, Iran's medical device market is estimated to be worth US$766.5mn; however, the market size per capita is very low, at US$10. The market is projected to grow by a low CAGR of 1.3% in US dollar terms, taking the market to US$819.4mn by 2018. Per capita spending is not expected to rise strongly over the same period.
  • Imports account for around 90% of the market, despite the manufacture of basic consumables such as syringes, needles & catheters, dental instruments & fittings and orthopaedics. Imports were valued at US$719.4mn in 2012. A large proportion of imports (67.6%) were procured from suppliers from the European Union (EU-27), with the Netherlands and Germany being the leading suppliers. Diagnostic imaging apparatus and other medical devices were the most significant import sectors.
  • Iran's medical device exports are minimal; estimates for 2012 put the value of exports at just US$5.6mn. The value of exports has plummeted when compared to 2011, but this decline is not just due to a devaluation of the Iranian rial, as the value of exports also fell by 76.2% in local currency terms.

 Headline Healthcare Overview

In 2013, BMI Espicom estimates that healthcare expenditure in Iran stands at US$23.2bn, representing 5.0% of GDP. Healthcare expenditure has risen at a CAGR of 0.9% in US dollar terms between 2008 and 2013; this low increase is partly due to the devaluation of the local currency.

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