Turkey is a key emerging market for pharmaceutical companies with a well-organised pharmaceutical industry, following revisions to its pharmaceutical regulatory sector in 2013. Harmonising with EU rules has facilitated access to new medicines in Turkey, which has grown into an important market for the international pharmaceutical industry.
The government aims to make Turkey one of the world’s top 10 economies in the field of health services by 2023. As a result, Turkey’s pharmaceutical industry is expected to reach $23 billion turnover by 2023 and imported products will continue to account for approximately half of the market share (Turkeys Pharmaceutical Sector – Vision 23 Report Strategy Document).
Positive MAP InsightsTurkey has seen a significant increase of 93% in the number of new chemical entities (NCEs) launched in its market in the past four years. This signifies that the Turkish market is becoming more of an attractive market for the industry.
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