The 11th exhibition of Iranian-made laboratory equipment and materials named ‘IRAN LAB EXPO 2024’ opened in Tehran this morning and will wrap up on Friday, January 5.

According to The Iran Project,Supported by the Vice-Presidency for Science, Technology and Knowledge-Based Economy, the international exhibition is showcasing 10,500 innovative products, IRNA reported.

A total of 366 technological companies are presenting their latest technological achievements, laboratory equipment, and advanced testing.

Moreover, some nine technological products of knowledge-based companies are planned to be unveiled during the exhibition.

The 2024 exhibition of Iranian-made laboratory equipment and materials will display Iran-made products in 14 thematic sections including "Oil and Petrochemical"; "Electricity";  "Electronics and Software"; "Civil and Construction", "Mechanics"; "Chemistry and Metallurgy"; "Agriculture and Environment"; "Basic Physics"; "General Laboratory Equipment";  "Laboratory materials"; "Medical engineering and biomaterials"; "Industrial test equipment"; "Calibration services" and "Educational and laboratory equipment for schools" are among different sections of the technological exhibition.

Exporting laboratory equipment to neighboring countries on agenda

On December 30, Vice President for Science, Technology, and Knowledge-based Economy, Rouhollah Dehqani-Firouzabadi, said the country is planning to export laboratory equipment to neighboring countries.

Knowledge-based companies started to meet the country’s technological needs in the past decade, he said, adding that the Vice Presidency supported the companies to manufacture laboratory equipment, Mehr News Agency reported.

Now, various pieces of laboratory equipment are manufactured at prices much lower than the same foreign products, Dehqani-Firouzabadi noted.

Foreign delegations that attend Iranian exhibitions will be familiarized with the country’s capabilities, he said, adding that the export of knowledge-based products was $300 million in the year to March 2021, but increased to $600 million the year after.

The export has surged to $1.5 billion so far in the current Iranian calendar year and is forecast to hit $2 billion by the end of the year, he said.

Exports of medicine, medical equipment sharply rise

Iran has experienced a significant rise in exports of medicine and medical equipment in the first four months of the current Iranian calendar year that started on March 21, 2023.

“Exports of pharmaceuticals and medical equipment grew by 300 percent in the first four months of the year,” IRNA quoted Heidar Mohammadi, the head of the Food and Drug Administration, as saying on August 13.

Last year, some 1,060 trillion rials (about $2.1 billion) worth of medicine and medical equipment were manufactured inside the country, he added.

Around 99 percent of the medicine supplied to the domestic market is produced by Iranian companies, he highlighted.

Iran plans to increase the exports of medicine to around $200 million in the current year from some $60 million last year, Mohammadi said in April.

Currently, the production of medicine, medical equipment, and powdered milk is supported by subsidies. So, their exports were very limited, but it is hoped that their exports will increase next year, he explained.

Referring to the shortage of 100 drug items in the country, he said: “Currently, nearly one and a half percent of the country's pharmaceutical need is imported. Along with domestic production, it is done as soon as the domestic production meets the demand.”

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-made pharmaceuticals are currently exported to Canada, Japan, and Europe, Faramarz Ekhteraei, chairman of the Iranian Pharmaceutical Industries Syndicate said, emphasizing that 72 percent of the country's pharmaceutical raw materials are domestically produced.

Some 40 percent of the country's total pharmaceutical exports are biotechnology products, a member of the board of directors of the Association of Manufacturers and Exporters of Medical Biotechnology Products said.