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Market Insight: Iran's Healthcare Market on the Rise -- Frost & Sullivan
Date:7/24/2013

LONDON, July 24, 2013 /PRNewswire/ -- Iran's healthcare industry is set for a bright future. The country is ranked 15th among Middle East and Africa (MEA) countries in terms of long-term investment potential. With a population of 75 million people – more than 50% of which is under the age of 35 – and an enormous amount of wealth coming in from its oil & gas reservoirs, Iran's GDP is expected to grow at an average of 2.4% over the next 10 years. Iran also ranks well for Industry Rewards due to its population and healthcare reforms. The huge youth population cohort coupled with the healthcare industry's room for improvement, promise growth in the private sector and investments in the pharmaceutical, healthcare facilities, and medical devices market.

Iran's healthcare industry was worth 26.44bn USD in 2011, growing to 28.13bn USD (+6.4%) in 2012. Currently, healthcare out-of-pocket (OOP) expenditure is at 55% – very high compared to neighbouring countries. Cardiovascular diseases account for 45% of deaths, while 18% are a result of road accidents, which also account for high disabilities and injuries numbers, especially among the younger population. The third main cause of death is cancer (14%, particularly lung cancer, expected to increase to 18% by 2030), followed by neonatal and respiratory diseases (6%). Diabetes, osteoporosis, and nutritional and psychological disorders are also on the rise. Drug addiction problems affect 3-5% of the population, with a strong correlation to HIV/AIDS cases. The need for a better medical system and products to address Iran's healthcare issues would therefore favour investments in the country.

Iran's pharmaceutical market was worth 3.51bn USD in 2012, wit
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SOURCE Frost & Sullivan
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