The Lifting of Nuclear Sanctions on Iran will open a Plethora of Opportunities in the Medical Tourism and Pharmaceutical Sectors
Several international sanctions were imposed over Iran over the last decade, restraining its international trade capacity. Yet, Iran is the 17th largest economy in the world; its Gross Domestic Product (GDP) was $415.3 billion in 2014. The nuclear sanctions imposed by the United Nations on Iran resulted in trade bans and restrictions on financial transactions, severely affecting the pharmaceutical and medical tourism sectors. This report assesses the impact of the lifting of these international sanctions on Iran’s healthcare market. It analyses market dynamics such as drivers and restraints and also provides estimates on the future of Iran’s pharmaceutical and medical tourism sectors.
Iran’s Healthcare Market—Growth Potential - Several international sanctions were imposed over Iran over the last decade, restraining its international trade capacities. Yet, Iran is the 17th largest economy in the world; its Gross Domestic Product (GDP) was $ billion in 2014. - The nuclear sanctions imposed by the United Nations on Iran resulted in trade bans and restrictions on financial transactions, severely affecting the pharmaceutical and medical tourism sectors. - Despite the import of food and drugs being exempted from sanctions, there has been a shortage of imported drugs due to financial road blocks such as restrictions on SWIFT payment methods. - From 2015 onwards, there is an increasing international consensus to ease nuclear sanctions. This will likely allow the Iranian pharmaceutical sector to produce adequate drugs needed for domestic use. This will also improve the prospect of Iran opening up to trade and providing opportunities for pharmaceutical companies to be a part of its growth. Frost & Sullivan expects that by mid-2016, there will be a positive momentum to support lifting of sanctions over Iran, especially by the US Congress while the International Atomic Energy Agency (IAEA) verifies Iran’s compliance with nuclear deal requirements. - Frost & Sullivan expects that this ease will increase the import of drugs as well as boost manufacturing from the pharmaceutical companies for generic drugs licensed by European and US companies. - The government of Iran is more reform-oriented to position Iran as a business friendly nation, and it took effective measures to bring inflation under control at % in the first half of 2015 . - International companies have gradually started to leverage this positive environment. Novo Nordisk plans to build a manufacturing plant for approximately $ million (€ million) in Iran. Iranian companies benefit with increased access to finance and technology, while the Iranian people will benefit from a competitive healthcare landscape and improved value for money.
Economic Overview of Iran Iran’s economy is extremely dependent on its oil and gas sector. The nuclear sanctions imposed by the United Nations in 2010 had an adverse effect on inflation and employment, as inflation rose to % in 2012. Since 2013, it has been decreasing and is at % in 2015.
While Iran faced several sanctions and trade constraints in the last three decades, countries such as China, South Korea, Turkey, Russia, and other Middle Eastern countries have become trade partners of Iran.
Iran, with a population of million, is the 17th most heavily populated country in the world with the 17th largest economy.
Table Of Contents
Impact of Lifting Nuclear Sanctions on Iranâs Healthcare MarketâNow and Later Executive Summary Iran's Healthcare MarketâGrowth Potential
Market Overview Economic Overview of Iran IranâCountry Snapshot IranâHealthcare Overview Healthcare Expenditure Healthcare System of Iran DemographicsâPopulation by Age Healthcare Indicators Leading Causes of Deaths in Iran Timeline of Iran's Healthcare Market
Impact of Nuclear Sanctions on Iran Nuclear Sanctions and its Implications for Iran Embargoes on Iran Fall of Medicinal Imports Sanctions on Banking Systems Price Inflation
The Lifting of Sanctions to Transform Iran's Healthcare Market Lifting Sanctions to Boost Healthcare Market What are the Market Attractions in Iran? What Does the Iranian Healthcare Market Offer?
Drivers and Restraints Market Drivers Market Restraints
Opportunities in Iran's Healthcare Market After Sanctions are Lifted Healthcare Market Opportunities in Iran Medical TourismâAfter Sanctions are Lifted Iran's Medical Tourism SectorâA Growing Medical Hub PharmaceuticalsâAfter Sanctions are Lifted PharmaceuticalsâMarket Statistics Generic Drugs Market in Iran Competitive Landscape of Generic Drugs Novo Nordisk to Explore Iran After Sanctions are Lifted Medical DevicesâAfter Sanctions are Lifted Medical DevicesâMarket Statistics
Strategic Recommendations Future Outlook of Iran's Healthcare Market 3 Key Predictions
The Last Word Legal Disclaimer
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