Iran’s infection control market is evaluated at US$121.815 million for the year 2020 and is projected to grow at a CAGR of 3.20%to reach a market size of US$151.885 million by the year 2027. The growing health tourism industry in Iran is propagating market growth in the forecast period. The growing pharma industry is further propelling the growth of infection control products and technology over the next five years. Investments in biotechnology and nanotechnology are boosting the market demand in the forecast period. Special arrangements for emergency services for ex-pats in the country are driving the market demand in the forecast period. Furthermore, with growing health spending in the country, the market is projected to grow at a significant growth rate during the forecast period.
Advancements in medical innovation in Iran are estimated to drive the market demand in the forecast period.
The medical innovation system in Iran is supported by more than 19,000 faculty members from various medical universities and research institutes. Their work in the field of the medical sector is published in more than 30,000 scientific research papers, and more than 1,500 patent applications in 2018. This shows that these organizations are capable of hosting varied research activities and giving rise to significant advancements to be utilized on a large scale locally and worldwide. In 2018, the National Medical Device Directorate reported the medical equipment market in Iran to be worth USD2.5 billion, with 30% of the Iranian medical equipment industry produced by more than 1000 domestic companies. In 2018, more than 90% of the pharmaceuticals consumed were manufactured at the local level. Additionally, 67% of the active pharmaceutical ingredients were utilized for manufacturing locally. The country has integrated its healthcare system with medical education and is improving health conditions. For this, around 65 medical universities are responsible for both health services and higher education in the medical field. The network of healthcare bodies managed by the Ministry of Health is contributing to the creation of a robust healthcare system providing convenient and extensive access to efficient healthcare services in urban and rural areas.
The growing health tourism market is providing an opportunity for the market to grow in the forecast period and in the upcoming years.
In terms of medical tourism, the country boasts of having a wealth of well-educated medical professionals. The affordable medical treatment costs are further providing lucrative opportunities for attracting patients from abroad, thereby burgeoning the market growth in the forecast period. Hence, investors are looking at Iran as one of the most advanced countries for healthcare and technology, hence, they are seizing opportunities to establish their operations and medical facilities here. However, significant improvements are required for the medical tourism industry to be sustainable in the future. For this, a need has been realized for greater promotion of tourism in the world and significant efforts are being made to build better infrastructure facilities for an increased inflow of medical tourists in the country. Nonetheless, this will not put a negative impact on the market growth in the forecast period, and in the future, tremendous market growth is projected along with the development of the medical tourism infrastructure.
COVID-19 SCEANARIO
The pandemic of COVID-19 had a huge impact on the Iran infection control market. The pandemic has caused havoc on healthcare systems around the world, with hospitals becoming overcrowded as the number of patients climbs. Sanitizer product volumes increased by up to 60% as a result of cleaning product manufacturers increasing production (Source: American Cleaning Institute, 2020). In hospital settings, equipment sterilization is essential for limiting the transmission of COVID-19. Patient-to-patient pathogen transmission via medical devices during the outbreak can be completely avoided by adequately sanitising medical equipment. Due to the potential risk of COVID-19 from improperly decontaminating surgical instruments, endoscopic devices, respiratory care equipment, and reusable hemodialysis machines, the use of reprocessed equipment to disinfect or sterilise medical devices is higher than usual during pandemics. Due to this, there is now more demand for sterilisation supplies to ensure the effective sterilisation of medical devices.
Key Developments
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2020 | US$121.815 million |
| Market Size Value in 2027 | US$151.885 million |
| Growth Rate | CAGR of 3.20% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Product, And End-User Industry |
| Companies Covered | Ramyar Shimi Co., Fazel Derakhshan Chemical Co., HISEPT Company |
| Customization Scope | Free report customization with purchase |
Market Segmentation: