Turkey - Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Turkey - Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Summary

GlobalData, the industry analysis specialist, has released its latest report “Turkey - Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Turkey. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

Owing to the size of the Turkish population and their growing health concerns, the Turkish healthcare sector is potentially attractive for multinational firms seeking to invest in joint ventures and other types of mutually beneficial collaborations with their Turkish counterparts. Turkey's favorable environment for pharmaceutical investments is driven by strong government support, manufacturing, and R&D incentives, increasing per capita income, an expanding middle-class population, among others. In terms of US dollars, the pharmaceutical market increased from $6.7 billion in 2015 to $7.4 billion in 2019, at a CAGR of 2.5%. The market is expected to grow further at a CAGR of 0.7% from 2021 to $7.8 billion in 2027. In terms of Turkish Liras, the country’s pharmaceutical market increased from TL18.3 billion in 2015 to TL42.1 billion in 2019 at a CAGR of 23.1%. The market is expected to grow further at a CAGR of 21.8% from 2021 to 2027, reaching TL203.7 billion in 2027. The Turkish medical device market was worth $5.1 billion in 2016, and it is expected to grow at a CAGR of 5.4% to $7.0 billion in 2021. It is predicted to expand at a CAGR of 3.2% during 2022-2027, reaching $7.9 billion in 2027. According to the Association of Research-Based Pharmaceutical Companies (Araştrmac laç Firmalar Dernei), the Turkish government is working towards boosting the R&D spending above 3% of GDP and growing the exports to $500 billion by 2023, transforming Turkey into one of the top ten nations in the world for healthcare.

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Turkey, and includes -

• An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
• Profiles and SWOT analyses of the major players in the pharmaceutical market: Bayer, Novartis, Sanofi, Pfizer, and Gilead.
• Profiles and SWOT analyses of the major players in the medical device market: GE Healthcare, Siemens Healthineers, Boston Scientific, Terumo, and Getinge.
• An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, healthtech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices.
• Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure and healthcare expenditure.
• An overview of the opportunities for and challenges to growth in the Turkish healthcare market.

Reasons to Buy

This report will enhance your decision-making capability by allowing you to -

• Develop business strategies by understanding the trends shaping and driving Turkish healthcare market
• Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact Turkish healthcare market in the future
• Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
• Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership