Iran – Market Research
Iran
Market overview: Given its large Muslim population with a pharmaceutical sector worth $3.7 BN (2020), in addition to its high interest in becoming the halal hub for food and cosmetics in the region, Iran would make a good potential market for Halal pharmaceuticals.
Regulations: Although no specific regulations found for pharmaceuticals, drug manufacturing in Iran, whether carried out at self-owned facilities or those of partners, must abide by certain cultural Islamic rules.
Market Size: Iran has a population of 82.5 million of which 99% are Muslim.
Market Potential: No official market size for halal pharmaceuticals is available for Iran at the moment but the country’s pharmaceutical sector worth itself hit $3.7 BN in 2020.
Market Activity: The Iranian halal pharmaceutical market is quite active with the country establishing research centers and institutions that specialize in halal pharmaceuticals. For instance, the Iranian Academic Center for Education, Culture, and Research (ACECR) conducts research and provides expertise in halal pharmaceuticals and related fields.
Important Activities in the Iranian Halal Pharmaceutical Market:
BRICS expansion: What’s in store for the global halal industry?
The expansion is poised to have significant economic and geopolitical implications, particularly in the halal industry and global trade dynamics.
Iranian Global Medicine Giant CinnaGen Opens $100M Biotech Plant in Çerkezköy Turkey
The plant includes a research and development (R&D) facility for biopharmaceuticals as well as manufacturing capacity for local and international markets.
CinnaGen Obtained Halal Certification for its Medicinal Products
The Iranian biopharmaceutical company can now manufacture halal certifies medicinal products.
Launching the Iranian Medicine “CinnoRA”, a Humira Biosimilar
CinnoRA is a Humira biosimilar which is the top selling Monoclonal Antibody.
