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Revamping the Pharmaceutical Trade: An Overview of Import and Export Dynamics in 2022 in iran

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According to recent data from the Iranian Customs Service, the landscape of the pharmaceutical trade has seen notable shifts, particularly in the import sector. In the year 2022, imports by 373 pharmaceutical companies experienced a 13.6% decrease, totaling $2.3 billion. This decline in the pharmaceutical trade is contrasted by a modest 11% decrease in exports, which amounted to $170 million.

The import statistics reveal a complex scenario in the pharmaceutical trade. Out of the 373 companies surveyed, which include manufacturers of pharmaceuticals, dietary supplements, raw materials, and drug importers, a significant reduction in import volumes was recorded. Notably, the top five importers—Behstan Daro, Kobl Daro, ActoWork Co., Novo Nordisk Pars, and Rozhin Plasma—dominated the market, accounting for 25% of the total import value.

The total trade weight of pharmaceutical imports was 127,000 tons, down from the previous year, highlighting a sharp 63.44% decrease in weight alongside the 13.6% drop in dollar value. This indicates a broader trend of reduced pharmaceutical imports, which could be attributed to several factors including regulatory changes, market saturation, or increased local production.

Analyzing the Impact of High-Value Products on Pharmaceutical Trade Dynamics

On the export front of the pharmaceutical trade, the overall performance seemed relatively stable. The top five exporting companies—Darman Ara, ArioGen Pharmd, Chemical Industries Chemists of Today, Behstan Plasma, and Research SinaGen—made significant contributions, collectively accounting for approximately 50.48% of the total export value, which stood at $86 million. Despite a slight 4.54% reduction in export weight, there was a notable 10.60% increase in the dollar value of exports compared to the previous year.

This suggests that while the volume of exported goods might have decreased, the value of the products exported has increased, possibly indicating a shift towards exporting more high-value products or successful penetration into new markets that demand higher-priced pharmaceuticals. The detailed analysis of the 373 companies, covering a wide spectrum from human pharmaceuticals to supplementary products and raw materials, underscores a nuanced view of the sector’s health in the pharmaceutical trade. While some overlap was noted among members listed in various categories, the data was adjusted to ensure unique entries for accurate representation.

In a year marked by economic challenges globally, the resilience shown by the top performers in both the importing and exporting sectors of the pharmaceutical trade illustrates the strategic adjustments companies have made to navigate these obstacles. The substantial share of imports and exports managed by these top companies highlights their crucial role in Iran’s pharmaceutical market dynamics.

Pharmaceutical Trade

Future Prospects and Strategic Directions for Iran’s Pharmaceutical Sector

Looking ahead, the Iranian pharmaceutical sector faces several opportunities and challenges. The decrease in imports suggests a potential increase in domestic production capacity or shifts in healthcare policies favoring local over foreign pharmaceuticals. For exporters, the increase in value despite a drop in volume points towards an opportunity to enhance product quality or diversify into more lucrative markets.

As the industry continues to evolve, stakeholders, including policymakers and company executives, must consider strategic initiatives to bolster both import and export capabilities in the pharmaceutical trade. Enhancing regulatory frameworks, supporting local manufacturing, and fostering global trade relationships will be key to sustaining and growing Iran’s presence in the global pharmaceutical market.

These findings not only inform current industry stakeholders but also provide valuable insights for future strategic planning. As Iran continues to adjust its economic and health policies post-pandemic, the pharmaceutical sector’s performance will be a crucial indicator of the broader economic health and its alignment with global market trends.

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Resource: Mehrnews,  May 08, 2024

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