Trends in Iran Pharmaceutical Market

Abstract

Iran health system indicators including access to medicines have improved significantly over past three decades. Iran pharmaceutical market has experienced several folds increase in value in past decade and has reached to over 4.3 billion USD in 2015. Local pharmaceutical companies play a major role in supplying medicines into the market. Despite obvious support of government of Iran for local manufacturing of medicines, Iran health system still relies on imported medicines for about 40% of its needs. Although Iran government announced a privatization plan of pharmaceutical companies in past years, more than 50% of the local market is still in hands of semi-governmental organizations. Emerge of some privately owned knowledge based companies which manufacture high tech biopharmaceuticals is a new development in Iran market. As a non WTO member government of Iran allows pharmaceutical companies to manufacture patent medicines for local market. Also local pharmaceutical market of Iran is big enough for investment export potential to neighboring countries is also a good opportunity for Pharma industry.