Pakistan Medical Device Exports Grow Over 40%: Healthcare Devices Association of Pakistan

Pakistan Medical Device Exports Grow Over 40%: Healthcare Devices Association of Pakistan

Tehran: Iran and Pakistan discussed ways to promote cooperation on medical devices during a webinar held on October 2, the foreign ministry said in a statement on Monday.

 

The webinar was attended by Head of Pakistan Healthcare Devices Association Masood Ahmed, Consul General of the Islamic Republic Hassan Nourian and representatives of more than 30 Iranian companies working in the manufacturing and supply of medical devices. Healthcare Devices Association of Pakistan

 

According to the foreign ministry, Ahmed announced his readiness to use Iranian medical products, stating that the association will cooperate and support the registration of Iranian products in Pakistan and joint production.

 

He added that Pakistan will import more than $1.4 billion in medical devices by 2021, while China, Turkey and Italy have the main share in medical device products exports to Pakistan.

 

Pakistan has also exported more than $500 million worth of medical devices to countries. That’s more than 40% growth compared to 2020, Ahmed said.

 

The head of HDA invited Iranian companies to the Health Asia 2022 exhibition to be held in Karachi from October 13 to 15.

 

This three-day annual event, which started in 2004, is the largest annual event for stakeholders in related industries and the most important medical event in Pakistan.

 

global market share

 

Iran holds a 1 percent stake (about $5 billion) in the estimated $500 billion global market for medical devices. But the country has the potential to increase its share, according to statistics from the Ministry of Health.

 

In 2018, the National Medical Devices Board reported that the Iranian medical device market was worth $2.5 billion, with 30 per cent owned by more than 1,000 domestic companies.

 

Globally, 56% of the 500,000 medical devices available in the world market have an Iranian version. In the pharmaceutical industry, about 70% of Iran’s $4.5 billion market is domestic, and in 2018, 97% of the pharmaceuticals consumed in the country were locally produced.

 

In 2018, 67% of the pharmaceutical ingredients (APIs) used to make medicines in Iran were produced locally.

 

A total of 227 knowledge-based companies are providing medical equipment for health centers across the country. According to the vice president of science and technology.

 

Iranian companies that manufacture medical devices export their products to 54 countries around the world.

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