Global trends indicate that industries affiliated with the healthcare technology, with a net profit margin of %21, ranked among the most profitable industries in 2015. The aging population in the developed countries, increasing healthcare expenditure and technology improvements are among the major contributors to this trend. Iran, as a developing economy, has ambitions to transform itself into a knowledge-based economy and Iranian policymakers are trying to find knowledge-intensive industries with high added value to accelerate such transformation. Medical devices and biopharmaceuticals are among such industries which Iranian firms have already invested heavily and have built unique capabilities. A unanimous consensus has formed among Iranian policymakers that lack of coherence between industrial, trade and healthcare policies has hindered the emergence of health tech as a leading industry in Iran’s knowledge-based transformation. In order to address this issue, a cooperation framework was established between Ministry of Industry, Trade and Mines, Ministry of Health and Vice Presidency for Science and Technology, and the Institute for Trade Studies and Research has been mandated to conduct a study on «Integrating Industrial, Trade, and Technology Policies in Iran” with a focus on medical devices and biopharmaceuticals.