TRY 47.9 billion – 2.2 billion boxes
Size of Turkish pharmaceuticals market as of December 2020.
USD 1.8 billion
Volume of Turkish pharmaceutical exports in 2020.
Number of accredited R&D centers in the Turkish life sciences industry as of June 2021.
Number of R&D employees in the Turkish pharmaceuticals industry as of 2020.
Growth rate in Turkish pharmaceutical R&D spending between 2016-2019.
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 2020, the value of the global pharmaceutical market reached USD 1.2 trillion, with Turkey ranking at the 18th spot.
Some key facts and figures in the Turkish pharmaceuticals sector are as follows:
- In 2020, the Turkish pharmaceuticals market grew in value by 17.6 percent, reaching TRY 47.9 billion. Unit sales protected the line and hit 2.2 billion in the same year.
- Around 500 companies operate in the industry. As of January 2021, there are 83 drug and 11 raw material production facilities that meet the highest international standards.
- Among the 94 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 39,000 staff and provides over 12,000 products.
- Biotechnological products constituted 18.2 percent of prescription products with a value of TRY 8.7 billion across 34.3 million units in 2020.
- The reference biotechnological pharmaceutical market grew by 21.8 percent to a total of TRY 7.8 billion in 2020.
- The biosimilar drugs market grew by 50.4 percent to reach TRY 938.5 million.
- Pharmaceutical exports, which stood at USD 1.018 million in 2017, surged by 80.3 percent to hit USD 1.836 billion in 2020.
- 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 662,000 in 2019, 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.