Turkey – Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape
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The pharmaceutical market size in Turkey was valued at $7.5 billion in 2020. The market is expected to grow further at a CAGR of less than 1% from 2021-2027. The Turkey healthcare market 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, and other factors. The medical devices market was valued at $7 billion in 2021 and is predicted to expand at a CAGR of over 3% during 2022-27.
Overview of Turkey pharmaceuticals market
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Overview of Turkey medical devices market
For more insights on this report, download a free report sample
What are the market dynamics in the Turkey pharmaceuticals market?
The Turkish government is reforming its healthcare system to ensure that all residents have access to high-quality healthcare. The Turkish Ministry of Health (MoH) established the Strategic Plan 2019–2023 to preserve individual and community health at the highest level. MoH is using a person-centered approach and delivering timely, relevant, and effective solutions to health problems through high-quality treatment.
Development in the life expectancy of Turkish people is attributed to improved healthcare quality and accessibility, improved treatment of major illnesses such as cardiovascular, diabetes, and cancer, and fewer maternal and neonatal mortality.
What are the key sub-segments in the Turkey pharmaceuticals market?
The key sub-segments in the pharmaceuticals market in Turkey are generics, biologics, biosimilars, and over the counter (OTC).
Turkey pharmaceuticals market, by sub-segment
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Who are the major players in the Turkey pharmaceuticals market?
Some of the major players in the pharmaceuticals market in Turkey are Bayer AG (Bayer), Novartis, Sanofi, Pfizer, and Gilead.
Bayer AG (Bayer)
The company discovers, develops, manufactures, and commercializes products for human healthcare and agriculture. It provides medicines for cardiovascular diseases, women’s health, cancer, hematology, ophthalmology, and other indications. Bayer is headquartered in Leverkusen, Germany. In Turkey, it operates from Istanbul.
Novartis
It is a healthcare company that focuses on the discovery, development, manufacture, and marketing of prescription and generic pharmaceutical products. They also deal with eye care products. And drugs for the treatment of cancer and other diseases. Novartis is headquartered in Basel, Switzerland. In Turkey, it operates from Istanbul.
Sanofi
It is a healthcare company that researches, develops, manufactures, and markets a wide range of medicines and vaccines. Its product portfolio includes medicines for the treatment of cancer, diabetes, and human vaccines for protection against various bacterial and viral diseases. Sanofi is headquartered in Paris, France. In Turkey, it operates from Beşiktaş, Istanbul.
Turkey pharmaceuticals market, by major players
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What are the market dynamics in the Turkey medical devices market?
Turkey is a large importer of medical technologies, with medical devices accounting for 80% of total medical technology imports. Domestic medical devices companies primarily manufacture disposables, orthopedic implants, surgical tools, stents, prosthetics, surgical gowns, masks and drapes, and hospital furniture. In response to the worldwide COVID-19 pandemic, a Turkish collaboration led by Biosys created the first local mechanical ventilator which was widely deployed.
What are the sub-segments in the medical devices market of Turkey?
The key sub-segments in the medical devices market of Turkey are hospital supplies, cardiovascular devices, general surgery, orthopedic devices, and nephrology and urology devices. Hospital supplies has the highest share among them in the market.
Turkey medical devices market, by sub-segment
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Who are the major players in the Turkey medical devices market?
Some of the major players in the medical devices market in Turkey are Siemens Healthineers, GE Healthcare, Boston Scientific Corp (Boston Scientific), Terumo, and Getinge AB (Getinge).
Siemens Healthineers
It a subsidiary of Siemens AG. This medical technology company designs, develops, and distributes diagnostic imaging systems, clinical and workflow systems and solutions, and systems for minimally invasive procedures. Siemens Healthineers is headquartered in Erlangen, Germany. In Turkey, it operates from Esentepe, Istanbul.
GE Healthcare
It manufactures and sells medical imaging devices for diagnosis, as well as other medical devices. GE Healthcare is headquartered in Chicago, Illinois, US. In Turkey, it operates from Şişli, Istanbul.
Boston Scientific Corp (Boston Scientific)
This medical technology company develops, manufactures, and commercializes devices for a range of interventional medical specialties. The company offers products in the areas of electrophysiology, gastroenterology, among others. Boston Scientific is headquartered in Massachusetts, US. In Turkey, it operates from Uskudar, Istanbul.
Turkey medical devices market, by key players
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Market report scope (pharmaceuticals market)
Market size (2020) | $7.5 billion |
Growth rate (2021-2027) | CAGR of <1% |
Forecast period | 2021-2027 |
Segmentation by type | Generics, Biologics, Biosimilars, and Over the Counter (OTC) |
Key players | Bayer AG (Bayer), Novartis, Sanofi, Pfizer, and Gilead |
Market report scope (medical devices)
Market size (2021) | $7 billion |
Growth rate (2022 to 2027) | CAGR of >3% |
Forecast period | 2022-2027 |
Segmentation by type | Hospital Supplies, Cardiovascular Devices, General Surgery, Orthopedic Devices, and Nephrology and Urology Devices |
Key players | Siemens Healthineers, GE Healthcare, Boston Scientific Corp (Boston Scientific), Terumo, and Getinge AB (Getinge) |
This report provides:
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
- Profiles and SWOT analysis of the major players in the pharmaceutical market: Bayer, Novartis, Sanofi, Pfizer, and Gilead.
- Profiles and SWOT analysis 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
- Develop business strategies by understanding the trends shaping and driving the 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 sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership
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Frequently asked questions
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What was the Turkey pharmaceuticals market size in 2020?
The Turkey pharma market size was valued at $7.5 billion in 2020.
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What is the growth rate of the Turkey pharmaceuticals market?
The pharmaceuticals market in Turkey grew at a CAGR of less than 1% during 2021-2027.
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What are the key segments in the Turkish pharmaceuticals market?
The key segments in the pharmaceuticals market in Turkey are generics, biologics, biosimilars, and over the counter (OTC).
-
Who are the key players in the Turkish pharmaceuticals market?
The key players in the Turkey pharmaceuticals market are Bayer AG (Bayer), Novartis, Sanofi, Pfizer, and Gilead.
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What is the Turkey medical devices market size in 2021?
The Turkish medical devices market size was valued at $7 billion in 2021.
-
What is the growth rate of the Turkey medical devices market?
The medical devices market in Turkey will grow at a CAGR of over 3% during 2022-2027.
-
What are the key segments in the Turkish medical devices market?
The key segments in the medical devices market in Turkey are hospital supplies, cardiovascular devices, general surgery, orthopedic devices, and nephrology and urology devices.
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Who are the key players in the Turkish medical devices market?
The key players in the Turkey pharmaceuticals market are Siemens Healthineers, GE Healthcare, Boston Scientific Corp (Boston Scientific), Terumo, and Getinge AB (Getinge).
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