Foreign Investor Guide
Reference: Presidency of the Republic of Turkey Investment office www.invest.gov.tr
LIFE SCIENCES
35,5 billion TL
- The volume of the Turkish medical pharmaceutical market as of June 2019.
1,19 billion USD
- Turkish pharmaceutical exports volume between June 2018 - June 2019.
32
- The number of accredited R&D centers in the Turkish medical pharmaceutical industry as of May 2019.
1.298
- The number of R&D employees of the Turkish medical pharmaceutical industry as of May 2019.
%241
- Growth rate in Turkish medical pharmaceutical industry R&D expenditure between 2010-2017.
It is recognized that the health sector and related industries are of strategic importance in Turkey. This strategic importance is even better understood when considering the social and economic impacts of these industries. With the Health Transformation Program, which was put into effect by the Ministry of Health in 2004, Turkey has shown its commitment to health reforms. These reforms marked important improvements in the country's health system, and were supported by investments in R&D and innovations in the health sector.
In 2018, the value of the global pharmaceutical market, where Turkey ranks 17th, reached $ 1.2 trillion.
Some important data and figures regarding the Turkish pharmaceutical industry are as follows:
- In 2018, the Turkish pharmaceutical industry grew by 26.1% and reached 30.94 billion TL. Unit sales increased by 3.6% in the same period, reaching 2.3 billion.
- Around 500 companies operate in the sector. As of May 2019, there are 81 pharmaceutical and 11 raw material production facilities that can meet the highest international standards.
- 17 of these 81 production facilities are owned by multinational companies.
- 3 of the 11 raw material production facilities belong to multinational companies.
- While the pharmaceutical industry employs more than 35,000 people, it produces more than 11,000 products.
- As of June 2019, biotechnological products accounted for 17.4% of prescription products with a value of 6.1 billion TL out of 28.8 million units in the past 12 months. The said biotech pharmaceutical market grew by 10.7%, reaching a total of 5.7 billion TL.
- The biosimilar medicine market grew by 54.2%, reaching 434.2 million TL.
- The pharmaceutical export volume, which was 606 million USD in 2010, reached 1.17 million USD in 2018 with a high increase of 93.7%.
Turkish pharmaceutical manufacturers export to more than 160 countries, including the EU, the Middle East and North Africa (MENA) region and CIS countries.
Regulations in the sector are in line with EU directives.
Some important data and figures regarding the Turkish medical device industry are as follows:
The value of the Turkish medical device market exceeded $ 2.0 billion in 2018.
- The market is expected to grow 5.9% annually on TL basis between 2016-2021.
- Health campus projects will meet the growing demand in the industry over the next few years.
- In the growing health tourism sector, the demand for medical devices is expected to increase, with the number of tourists reaching almost 554,000 in 2018. The Ministry of Health predicts that this number will reach 1.5 million by 2023.
- Medical device regulations are in line with EU directives.
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https://www.invest.gov.tr/tr/sectors/sayfalar/life-sciences.aspx