Iran's Medical Equipment Export Sees 18% Annual Growth

Iranian authorities announced the country exported US$ 17 million worth of medical devices during the fiscal year of 2016 to 17, an 18% year-on-year increase comparing to same period last year.

Iran Trade Promotion Organization said Europe is still the biggest market for Iranian medical devices, as reported by Mehr News Agency.

The country has around 500 medical device production units which produced over 800 types of medical devices to supply domestic and foreign markets.

Iranian trade office has requested the government as well as domestic private sectors to participate in international exhibitions to secure more export agreements.

Iran’s medical device market was estimated to be valued around US$ 850 million.

Iran has been intensified its healthcare industry in the last decade.

At least 170 out of 400 hospitals have been granted with International Patients Department permits which allow them to join government’s health tourism program.

In 2015, the Health Tourism Council was formed to review and approve regulations that directly affect hospitals catering to foreign tourists and travel agencies that take health tourists to Iran.

According to Iran Cultural Heritage Handicrafts and Tourism Organization (ICHHTO), Iran’s annual revenue from health tourism is between $400 million and $500 million, while the target is to reach $2.5 billion in the foreseeable future.