Domestic Firms Supply 70% of Iran’s Pharmaceutical Market

Date: 17 August 2019 - 21:54

News ID: ۶۹۴۲۲

TEHRAN (Dispatches) - Two-thirds of Iran’s pharmaceutical market is supplied by domestic producers and firms, showed a recent report of the Global Innovation Index (GII) in 2019.
The Iranian Vice-Presidency for Science and Technology issued a report citing the latest report of the GII that domestic companies hold about 70 percent of $4.5 billion pharmaceutical market of Iran.
The report concentrated on studying and analyzing situation of innovation and capability of Iran in the pharmaceutical field with a focus on the biomedicines.
The GII put the market value medical equipment in Iran at $2.5 billion, 30 percent of which is owned by more than 100 domestic producers.
Implementation of "Health Reform Plan” is one of the influential and effective steps launched in Iran in line with increasing accessibility to the services in the field of health, the report added.
Earlier, Iranian Health Minister Saeed Namaki said that his country will achieve self-sufficiency in meeting its pharmaceutical needs by the next 3 years.
"Currently 97% of Iran’s required medicine is produced by domestic companies and only 3% are being imported,” Namaki said, adding that these drugs are classified as high-tech and their production needs state-of-the-art technologies.