Official: Iran can get 20% of $5tr intl. traditional medicine market

An Iranian authority says the country can secure a fifth of the global market for medicinal herbs and traditional medicine.

“The traditional medicine market is worth $5 trillion, and given our geographical situation and considerable potential for plantation and production of medicinal herbs, we are able to secure 20% of this market, which is a good figure,” said Mohammadreza Shams Ardakani, the secretary of the Committee for Development of Knowledge-Based Economy for Medicinal Herbs and Traditional Medicine.

“One of our most important approaches in this sector is to tap into the potentialities of the private sector and utilize artificial intelligence,” added the authority in a meeting held at the Presidential Office’s Department for Science, Technology and Knowledge-Based Economy.

Also present at the session was Iran’s vice-president for scientific affairs, who underlined the need to organize and regulate the activities of herbal pharmacies.

He said these stores can be obliged to obtain certain compulsory as well as optional standards to improve their services.