According to the TechSci Research report, “Turkey Pharmaceuticals Market - By Region, Competition, Forecast, and Opportunities, 2028,” the Turkey Pharmaceuticals Market is projected to grow at an impressive rate from 2024-2028. Turkey’s pharmaceutical market is one of the largest and most dynamic in the region, with a well-established healthcare system that provides universal access to services. The Ministry of Health regulates the pharmaceutical industry, overseeing drug registration, pricing, and distribution. The government promotes the use of generic drugs to reduce healthcare costs through policies such as price controls, generic substitution, and incentives for pharmacies that sell high volumes of generic drugs. Factors such as population growth, increasing demand for healthcare services, and a growing focus on innovation and digitalization are expected to drive market growth in the coming years.
The Turkey Pharmaceuticals Market is segmented by drug type, product type, application, and distribution channel. In terms of drug type, the market includes both generic and branded drugs. Generic drugs have gained popularity and market share in many countries, including Turkey. These lower-priced versions of brand-name drugs have the same active ingredient, dosage, and intended use as the original product. The Ministry of Health regulates drug prices in Turkey and encourages the use of generic drugs to reduce healthcare costs. A 2020 report by the Istanbul Chamber of Pharmacists found that generic drugs make up around 80% of Turkey’s pharmaceutical market due to their availability and affordability. The Turkish government has implemented policies to promote their use, such as offering incentives to pharmacies that sell high volumes of generic drugs and requiring doctors to prescribe them unless a brand-name drug is medically necessary.
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In terms of product type, the market includes over-the-counter (OTC) and prescription drugs. OTC drugs dominate the Turkey Pharmaceuticals Market. These medications can be purchased without a prescription to treat common ailments such as headaches, colds, and allergies. They are safe and effective when used as directed and often less expensive than prescription drugs. In Turkey, OTC drugs are widely available through pharmacies and supermarkets. A 2020 report by the Istanbul Chamber of Pharmacists found that OTC drug sales make up a significant portion of Turkey’s pharmaceutical market and are increasing year by year. Factors such as convenience, lower cost compared to prescription drugs, and increasing awareness about self-care contribute to their growing popularity.
In terms of application, the market includes cardiovascular diseases, oncology, metabolic disorders, musculoskeletal conditions, anti-infectives, and others. Cardiovascular diseases are expected to drive market growth throughout the forecast period as they are the leading cause of death in Turkey, accounting for around 40% of all deaths. The prevalence of risk factors such as hypertension, high cholesterol, and obesity is high among the population.
Major companies operating in the Turkey Pharmaceuticals Market are:
- 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
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In terms of distribution channels, the market includes retail pharmacies, hospital pharmacies, and e-pharmacies. Retail pharmacies dominate the market due to their critical role in providing access to medications and health information for the population. A 2020 report by the Istanbul Chamber of Pharmacists found that there are more than 40,000 pharmacies in Turkey, with one pharmacy for every 2,800 people. This high density of pharmacies makes it easier for people to access medication and health services, especially in rural areas. In recent years, there has been a trend towards larger pharmacy chains and the use of technology to enhance the customer experience. “Retail pharmacies in Turkey play a critical role in providing access to medications and health information for the population,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Turkey Pharmaceuticals Market By Type (General, Multispecialty, Specialty), By Type of Services (In-Patient Services v/s Out-Patient Services), By Bed Capacity (Above 500 beds, 100-500 beds, up to 100 beds)), By Company and By Region, has evaluated the future growth potential of Turkey Pharmaceuticals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Turkey Pharmaceuticals Market.”
Table Of Content –
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customers
- Turkey Pharmaceutical Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Drug Type (Generic and Branded drugs)
5.2.2. By Product Type (Over-The-Counter Drugs, Prescription Drugs)
5.2.3. By Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, and Others)
5.2.4. By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy)
5.2.5. By Region
5.2.6. By Company (2022)
5.3. Market Map
…………….continued
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