This 3-day annual event which started in 2004, is the biggest annual gathering of the related industry stakeholders and the most important medical event in Pakistan.
Iran's pavilion will be established in the fields of knowledge, health, and medicine with the support of the Vice Presidency of Science and Technology, and the Innovation and Prosperity Fund.
An Iranian delegation led by the head of the Chamber of Commerce, Industries, Mines and Agriculture Gholam-Hossein Shafe’i, traveled to the cities of Karachi and Lahore, IRNA reported on Thursday.
Over the past year, this will be the third major exhibition event in Karachi as the economic heart of Pakistan, which will be held with the strong presence of Iranian companies.
Global market share
Iran holds a share of one percent (about $5 billion) in the global market for medical equipment of approximately $500 billion, but the country has the potential to increase the share, according to the statistics of the Ministry of Health.
In 2018, the National Medical Device Directorate reported that the Iranian medical equipment market was worth $2.5 billion, 30 percent of which belonged to over 1,000 domestic firms.
On a global scale, 56 percent of 500,000 medical equipment items available in the world market have Iranian versions. In pharmaceuticals, around 70 percent of Iran’s $4.5 billion markets are domestic products and, in 2018, 97 percent of pharmaceuticals consumed in the country were manufactured locally.
In 2018, 67 percent of the active pharmaceutical ingredients (APIs) used to produce drugs in Iran were made locally.
A total of 227 knowledge-based firms are supplying medical equipment for health centers across the country, according to the Vice Presidency for Science and Technology.
Iranian companies producing medical equipment export their products to 54 countries across the world.