IRAN Healthcare Sector

IRAN Healthcare Sector

IRAN Healthcare Sector

Iran is a large country with attractive demographic and macroeconomic characteristics by around 80 million populations that expected to rise to 88 million by 2030 and 56% of households have income over $20,000. (in PPP terms)
The Iranian healthcare industry is well developed, with an estimated size of $22.3 billion (2015, BMI) and healthcare expenditure representing 6.9% of GDP, compared to 5.4% in Turkey, 4.7% in Saudi Arabia and 3.6% in the United Arab Emirates and also the market has a significant growth potential, with BMI forecasting growth to $31.2 billion by 2020 corresponding to a CAGR of c.+7% in US dollar terms (BMI report, 2017)
Iran’s medical equipment sector is primarily import-driven (imports accounted for nearly 90% of total sales in 2014.) and is forecast to reach the size of $1,217 million by 2020.
The government plans to increase the number of hospital beds by 70,000 units by 2020 as well as on improving senior care, restructuring state-sponsored health insurance and attracting foreign investments.