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As one of the fastest-growing pharma markets in the
region even under the US sanctions, Iran’s pharmaceutical
industry can be the next pharmaceutical leader in the
Middle East. As a result of good policies taken by the
government and Iranian syndicate, approximately 97% of
the consumption is domestically produced and only 3% is
being imported.
High medicine consumption rates amongst Iranians have
been recorded with every citizen using approximately 340
units on average per year. This makes Iran the second-
largest consumer per capita in Asia and the 20th in the
world. The average number of medicine per prescription
of doctors internationally is 2 units, whereas in Iran it is
at 3.5 units.
The Iranian pharmaceutical industry has a large domestic
market and additionally has numerous opportunities for
cooperation.
With having good quality factories, international
experience in the production of medicines, good quality of
the end products, diverse product range, and a competent
workforce, by 2024, the Iranian pharmaceutical market
will be worth approximately 5 billion dollars.
Iranian companies are also growing rapidly in the export
sector. They export pharmaceutical products to more than
30 countries especially European countries like Russia.