Turkey Pharmaceuticals Market By Drug Type (Generic, Branded drugs), By Product Type (Over-The-Counter Drugs, Prescription Drugs), By Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition, Forecast, and Opportunities, 2028

Turkey's pharmaceutical market is driven by a combination of factors such as a large population, an increasing incidence of chronic diseases, and a growing demand for healthcare services

The Turkey Pharmaceutical Market is highly regulated, with the Turkish Ministry of Health overseeing drug registration, pricing, reimbursement, and the licensing of pharmaceutical companies. The Turkish government has adopted laws to encourage the use of generic drugs, which has assisted in reducing healthcare costs and increasing patient access to medicines. The market is dominated by domestic manufacturers, with local companies accounting for more than 70% of the market share. However, multinational pharmaceutical companies are active in the Turkish market and account for a significant portion of the market share. Most prescribed medications in Turkey are cardiovascular drugs, followed by anti-infectives and anti-cancer drugs. The COVID-19 pandemic has driven demand for certain medications, including antiviral drugs and vaccines.

However, challenges such as, pricing pressure, regulatory barriers, and the increasing demand for personalized medicines may impact market growth in the future.

Increasing Incidence of Chronic Diseases Drive the Turkey Pharmaceutical Market

According to the latest WHO data published in 2020 Coronary Heart Disease Deaths in Turkey reached 85,905 or 22.08% of total deaths. The age adjusted Death Rate is 95.94 per 100,000 of population ranks Turkey #117 in the world. Furthermore, 25,088 fatalities from lung diseases, or 6.45% of all deaths in Turkey in 2020, were recorded. Turkey is ranked #63 in the world for the highest age-adjusted Death Rate with 28.02 per 100,000 people.

According to a report by the Turkish Medicines and Medical Devices Agency, cardiovascular drugs are the most prescribed medications in Turkey, followed by anti-infectives and anti-cancer drugs. The Turkish government has recognized the growing burden of chronic diseases and has implemented policies to address the issue. For example, the government has launched a National Cancer Control Program to reduce the incidence of cancer and improve cancer care in the country. In addition, the government has implemented policies to promote healthy lifestyles, such as increasing availability of healthy foods and promoting physical activity.

Overall, the increasing incidence of chronic diseases is expected to continue to drive demand for pharmaceuticals in Turkey in the coming years. However, this trend also presents certain challenges, such as the need for increased healthcare spending, rising cost of medications, and the need for innovative treatment options to address these complex conditions.

Download Free Sample ReportDemand for Multinational Pharmaceutical Companies Boost Market Expansion

The presence of multinational pharmaceutical companies has been a significant driver of market expansion in Turkey. These companies bring with them innovative products and technologies, which can help to improve patient outcomes and drive market growth.

Multinational pharmaceutical companies have been attracted to Turkey due to its large population, its strategic location between Europe and Asia, and the growing demand for healthcare services and pharmaceuticals. These companies have invested heavily in Turkey, building manufacturing facilities, conducting clinical trials, and establishing partnerships with local companies. The presence of multinational companies has helped to drive competition in the Turkish market, which has led to increased product offerings and lower prices for consumers. In addition, these companies have brought with them best international practices and standards, which have helped to improve the quality of healthcare services and pharmaceuticals in Turkey.

The Turkish government has been supportive of multinational companies and has implemented policies to encourage foreign investment in the pharmaceutical sector. For example, the government has streamlined the drug registration process, which has made it easier for multinational companies to bring their products to the Turkish market. Overall, the presence of multinational pharmaceutical companies is expected to continue to drive market expansion in Turkey in the coming years. However, local companies play a significant role in the market, and it is important to strike a balance between promoting foreign investment and supporting local companies to ensure a healthy and sustainable market.

Growing Middle Class Population Boost the Demand of Pharmaceutical Industries in Turkey

The growing middle-class population in Turkey has been a significant driver of the demand for pharmaceutical products and has contributed to the growth of the pharmaceutical industry in the country.

Turkey's middle class is expanding, which is driving up demand for pharmaceuticals as well as other healthcare products and services. The middle class usually has more spare income, and they are prepared to spend more on their healthcare needs as well as other aspects of health and wellbeing. The Turkish healthcare system has also changed because of the country's expanding middle class, with a stronger emphasis on preventative care and a move towards more private healthcare services. This has created new opportunities for pharmaceutical companies to offer products and services that cater to these changing needs. In addition, the growing middle class in Turkey has led to an increase in the availability of private health insurance, which has further fueled the demand for healthcare services and pharmaceutical products.

Overall, the growing middle-class population in Turkey is expected to continue to drive the demand for pharmaceutical products and contribute to the growth of the pharmaceutical industry in the coming years. However, the industry will need to continue to innovate and adapt to the changing needs of this demographic to remain competitive in the market.

While the Turkey Pharmaceutical Market has been growing rapidly in recent years, there are several challenges that the industry faces, including

Regulatory environment

Pricing pressure

Intellectual property protection

Counterfeit drugs

Access to healthcare

Overall, while the Turkey pharmaceutical market offers significant opportunities for growth, the industry will need to address these challenges to remain competitive and sustainable in the long term.

Market Segmentation

Turkey Pharmaceuticals Market is segmented based on

Market players

AbbVie Türkiye, Amgen Inc., Bilim Ilac Sanayii ve Ticaret Anonim Sirketi, Bristol-Myers Squibb Company, EastPharma Ltd, Ferring Ílac Sanayi ve Ticaret Ltd Sti (Ferring Global), Gensenta İlaç Sanayi ve Ticaret A.Ş., GlaxoSmithKline Turkey, ITALFARMACO S.p.A., Menarini Türkiye (Menarini Group), Merck & Co., MS Pharma, Novartis Turkey, Pfizer Turkey, Takeda Pharmaceutical Company