The healthcare sector and its related industries are considered to be of strategic importance in Turkey. This is especially true when taking into consideration these industries’ social and economic impacts. Turkey affirmed its commitment to healthcare reforms with the implementation of the Healthcare Transformation Program introduced in 2004 by the Ministry of Health. These reforms marked a significant improvement in Turkey’s healthcare system, and they have been backed by investments in R&D and innovation in the healthcare sector.
In 2018, the value of the global pharmaceutical market reached USD 1.2 trillion, with Turkey ranking at the 17th spot.
Some key facts and figures in the Turkish pharmaceuticals sector are as follows:
- In 2018, the Turkish pharmaceuticals market grew in value by 26.1 percent, reaching TRY 30.94 billion. Unit sales rose by 3.6 percent to hit 2.3 billion in the same year.
- Around 500 companies are operating in the industry. As of May 2019, there are 81 drug and 11 raw material production facilities that meet the highest international standards.
- Among the 81 manufacturing facilities, 17 are owned by multinational companies.
- Among the 11 raw material production facilities, 3 are owned by multinational companies.
- The pharmaceutical industry employs over 35,000 staff and provides over 11,000 products.
- Biotechnological products constituted 17.4 percent of prescription products with a value of TRY 6.1 billion across 28.8 million units in the past 12 months as of June 2019.
- The reference biotechnological pharmaceutical market grew by 10.7 percent to a total of TRY 5.7 billion.
- The biosimilar drugs market grew by 54.2 percent to reach TRY 434.2 million.
- Pharmaceutical exports, which stood at USD 606 million in 2010, surged by 93.7 percent to hit USD 1.17 billion in 2018.
- Turkish pharmaceutical manufacturers are exporting to more than 160 countries, including the EU, MENA, and CIS countries.
- Regulations in the sector are in line with EU directives.
Some key facts and figures in the Turkish medical devices sector include:
- The Turkish medical devices market surpassed USD 2.0 billion in 2018.
- The market is expected to grow by 5.9 percent in TRY terms annually between 2016-2021.
- The healthcare campus projects will cater to increasing demand in the sector over the next several years.
- The growing medical tourism sector, in which the number of tourists rose to 554,000 in 2018, is expected to further stimulate demand for medical devices. The Ministry of Health expects this number to reach 1.5 million by 2023.
- Medical device regulations are in line with EU directives.