LIFE SCIENCES

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 2022, the value of the global pharmaceutical market reached USD 1.5 trillion, with Türkiye ranking at the 21st spot.

Some key facts and figures in the Turkish pharmaceuticals sector are as follows:

In 2022, the Turkish pharmaceuticals market grew in value by 78.8 percent, reaching USD 3,4 billion. Unit sales protected the line and hit 2.8 billion in the same year.
Around 500 companies operate in the industry. As of the end of 2022, there are 103 drug and 13 raw material production facilities that meet the highest international standards.
Among the 103 manufacturing facilities, 23 are owned by multinational companies.
Among the 13 raw material production facilities, 3 are owned by multinational companies.
The pharmaceutical industry employs over 45,000 staff and provides over 12,000 products.
Biotechnological products constituted 18.3 percent of prescription products with a value of USD 6,2 billion across 40 million units in 2021.
The reference biotechnological pharmaceutical market grew by75 percent to a total of USD 5,4 billion in 2022.
The biosimilar drugs market grew by 63.1 percent to reach USD 810 million.
Pharmaceutical exports, which stood at USD 995 million in 2017, surged by 121 percent to hit USD 2.2 billion in 2023.
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 pharmaceuticals sector are as follows:

The Turkish medical devices market size is USD 2.9 billion in 2022.
The market is expected to grow by 57 percent in local currency terms in total between 2022-2027.
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 1.4 million in 2023, and the total contribution to the Turkish economy was USD 2.3 billion.
Medical device regulations are in line with EU directives.

LIFE SCIENCES

LIFE SCIENCES

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