Report Published: "Turkey Pharmaceuticals & Healthcare Report Q4 2014"

From: Fast Market Research, Inc.
Published: Thu Sep 11 2014

Despite a challenging pricing and reimbursement situation compounded by currency uncertainty, BMI still believes the Turkish pharmaceutical market is attractive in the long term as higher y-o-y growth rates return from 2013/14. In contrast to European markets where manufacturers can expect to achieve higher prices, but with a stagnant growth outlook, Turkey offers strong growth potential if drugmakers are able to accept prices that are considerably below the European average and turn a profit on the low margins available .

Headline Expenditure Projections

* Pharmaceuticals: TRY17.16bn (USD9.00bn) in 2013 to TRY18.89bn (USD8.42bn) in 2014; +10.1% in local currency and -6.5% US dollar terms.
* Healthcare: TRY100.27bn (USD52.61bn) in 2013 to TRY108.74bn (USD48.44bn) in 2014; +8.5% in local currency and -7.9% US dollar terms.

Risk/Reward Rating

Turkey's Pharmaceutical Risk/Reward Rating (RRR) score for Q414 is 55.9, unchanged from the previous quarter. The country is again ranked the fifth most attractive business environment out of the 20 markets surveyed in Emerging Europe. Turkey's large drug market, coupled with the sector's long-term growth potential, means that the country scores considerably higher than the average for the region on this indicator. In terms of risks, several rounds of pricing reforms mean that the country scores less favourably, and below the regional average for this indicator.

Full Report Details at

Key Trends And Developments

* The economic development and health ministries of Turkey are working to prepare a long-term strategic plan for the pharmaceutical sector in the country. Over the next four to five years from 2014, the two ministries hope to shape the development of a successful domestic industry within the spheres of pharmaceuticals, healthcare and medical devices and consequently tackle the country's large pharmaceutical trade deficit.
* Russian pharmaceutical company R-Pharm plans to invest funds worth EUR100mn (USD136.16mn) to develop...

The Turkey Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Turkey Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Turkish pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Turkey to test other views - a key input for successful budgeting and strategic business planning in the Turkish pharmaceutical and healthcare market.

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