Turkey Pharmaceutical Market Size, Share, Forecast, 2032

Turkey Pharmaceutical Market Report by Type (Pharmaceutical Drugs, Biologics), Nature (Organic, Conventional), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112025A24198

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Turkey Pharmaceutical Market Overview:

The Turkey pharmaceutical market size reached US$ 7.81 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.23 Billion by 2032, exhibiting a growth rate (CAGR) of 4.50% during 2024-2032. The market is primarily driven by the expanding healthcare sector due to easy access to healthcare services, rising demand among the growing geriatric population, advancements in medical technology, and strategic investments by local and international pharmaceutical companies across the region.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Size in 2023	US$ 7.81 Billion
Market Forecast in 2032	US$ 12.23 Billion
Market Growth Rate 2024-2032	4.50%

Turkey Pharmaceutical Market Trends:

The Growing Aging population:

The demographic patterns in Turkey including population growth and an aging population, are influencing the pharmaceutical industry in Turkey. According to the Turkish Statistical Institute press release stating that 6,895,385 people were 65 years of age or older in 2017. This group increased by 22.6% during the next five years, to reach 8,451,669 individuals by 2022. The percentage of the population that is old grew throughout this time, rising from 8.5% in 2017 to 9.9% in 2022. In 2022, there were 44.4% men and 55.6% women among the old population. Moreover, the population forecasts indicate that the percentage of old people will likely continue to rise, reaching 12.9% by 2030, 16.3% by 2040, 22.6% by 2060, and 25.6% by 2080. These projections are escalating the demand for pharmaceutical products tailored to chronic disease management, geriatric care, and the overall healthcare needs of the geriatric population. This demographic shift has prompted pharmaceutical companies to innovate and develop medications that address age-related conditions such as cardiovascular diseases, diabetes, and arthritis.

Increased Access to Healthcare:

The Turkish pharmaceutical industry has been greatly influenced by the growth of healthcare services. According to ilac Endustrisi iseverenler Sendikasi (IEIS), pharmaceutical manufacturer of Turkiye, the value of Turkey's combined pharmaceutical and healthcare product market including sales from pharmacies and hospitals increased to TRY 121.6 billion in 2022, a noteworthy 78.8% growth. The market increased by 8.6% in terms of unit sales, reaching 2.82 Billion units. Additionally, a variety of products authorized by the Ministry of Health are available in the healthcare market, including prescription drugs, foods specifically designed for health, and conventional herbal remedies. Moreover, the expansion was further aided by goods that were authorized by the Ministry of Agriculture and Forestry, including food supplements, vitamins, and formulae, thus contributing to the market growth. According to the most current statistics available, the healthcare market had a 7.1% increase in units and a 28.8% increase in value in 2021, demonstrating strong expansion across several industry areas. Hence, there the easy availability of pharmaceuticals is increasing the need for pharmaceutical items, ranging from specialty drugs to basic therapies across Turkey.

Turkey Pharmaceutical Market News:

20 November 2023: Abdi İbrahim, the leading pharmaceutical company in Turkey, announced a landmark technology transfer agreement with mAbxience, a leading biosimilar developer. This collaboration will enable Abdi İbrahim to locally manufacture a biotech pharmaceutical for the first time in Türkiye, specifically a cancer treatment previously imported. Under the brand AbdiBio, Türkiye's largest biotech facility, this initiative aims to produce a monoclonal antibody used in treating metastatic colorectal cancer, cervical cancer, and glioblastoma multiforme. Abdi İbrahim seeks to enhance healthcare accessibility, mitigate supply chain issues, and bolster Türkiye's position in the global biotechnology sector by localizing production from cell cultivation to final product.
30 January 2024: Turkish Cargo, renowned as a leading partner in the global air cargo sector, continues to elevate standards in pharmaceutical and medical logistics. It introduced three new products, TK Pharma Standard, TK Pharma Extra, and TK Pharma Advanced. This dynamic brand aims to exceed customer expectations with flexible solutions tailored to various categories of pharmaceutical and medical shipments.

Turkey Pharmaceutical Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type and nature.

Type Insights:

Pharmaceutical Drugs
- Cardiovascular Drugs
- Dermatology Drugs
- Gastrointestinal Drugs
- Genito-Urinary Drugs
- Hematology Drugs
- Anti-Infective Drugs
- Metabolic Disorder Drugs
- Musculoskeletal Disorder Drugs
- Central Nervous System Drugs
- Oncology Drugs
- Ophthalmology Drugs
- Respiratory Diseases Drugs
Biologics
- Monoclonal Antibodies (MAbS)
- Therapeutic Proteins
- Vaccines

The report has provided a detailed breakup and analysis of the market based on the type. This includes pharmaceutical drugs, (cardiovascular drugs, dermatology drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs, anti-infective drugs, metabolic disorder drugs, musculoskeletal disorder drugs, central nervous system drugs, oncology drugs, ophthalmology drugs, and respiratory diseases drugs) and biologics, (monoclonal antibodies (mabs), therapeutic proteins, and vaccines.

Nature Insights:

Organic
Conventional

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes organic and conventional.

Regional Insights:

Marmara
Central Anatolia
Mediterranean
Aegean
Southeastern Anatolia
Blacksea
Eastern Anatolia

The report has also provided a comprehensive analysis of all the major regional markets, which include Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, Eastern Anatolia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Turkey Pharmaceutical Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	Billion US$
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Type Nature Region
Types Covered	Pharmaceutical Drugs: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Musculoskeletal Disorder Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Diseases Drugs Biologics: Monoclonal Antibodies (MAbS), Therapeutic Proteins, Vaccines
Natures Covered	Organic, Conventional
Regions Covered	Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, Eastern Anatolia
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Turkey pharmaceutical market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Turkey pharmaceutical market?
What is the breakup of the Turkey pharmaceutical market on the basis of type?
What is the breakup of the Turkey pharmaceutical market on the basis of nature?
What are the various stages in the value chain of the Turkey pharmaceutical market?
What are the key driving factors and challenges in the Turkey pharmaceutical?
What is the structure of the Turkey pharmaceutical market and who are the key players?
What is the degree of competition in the Turkey pharmaceutical market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Turkey pharmaceutical market from 2018-2032.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Turkey pharmaceutical market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Turkey pharmaceutical industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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