TRY 61.9 billion – 2.4 billion boxes
Size of Turkish pharmaceuticals market as of December 2021.
USD 1.9 billion
Volume of Turkish pharmaceutical exports in 2021.
Number of accredited R&D centers in the Turkish life sciences industry as of November 2022.
Number of R&D employees in the Turkish pharmaceuticals industry as of 2021.
Growth rate in Turkish pharmaceutical R&D spending between 2019-2021.
The healthcare sector and its related industries are considered to be of strategic importance in Türkiye. This is especially true when taking into consideration these industries’ social and economic impacts. Türkiye 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 Türkiye’s healthcare system, and they have been backed by investments in R&D and innovation in the healthcare sector.
In 2021, the value of the global pharmaceutical market reached USD 1.4 trillion, with Türkiye ranking at the 19th spot.
Some key facts and figures in the Turkish pharmaceuticals sector are as follows:
- In 2021, the Turkish pharmaceuticals market grew in value by 28.8 percent, reaching TRY 61.7 billion. Unit sales protected the line and hit 2.4 billion in the same year.
- Around 500 companies operate in the industry. As of December 2021, there are 103 drug and 11 raw material production facilities that meet the highest international standards.
- Among the 103 manufacturing facilities, 23 are owned by multinational companies.
- Among the 11 raw material production facilities, 3 are owned by multinational companies.
- The pharmaceutical industry employs over 42,000 staff and provides over 12,000 products.
- Biotechnological products constituted 36.8 percent of prescription products with a value of TRY 24.3 billion across 40 million units in 2021.
- The reference biotechnological pharmaceutical market grew by 28 percent to a total of TRY 10 billion in 2021.
- The biosimilar drugs market grew by 68.4 percent to reach TRY 1.6 billion.
- Pharmaceutical exports, which stood at USD 1.02 million in 2017, surged by 87 percent to hit USD 1.91 billion in 2021.
- Turkish pharmaceutical manufacturers are exporting to more than 170 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 1.92 billion in 2020.
- The market is expected to grow by 7.7 percent in local currency terms annually between 2021-2024.
- 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 876,000 in the first three quarters of 2022, 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.