New Report Available: Turkey Pharmaceuticals & Healthcare Report Q4 2015

From: Fast Market Research, Inc.
Published: Mon Sep 21 2015

New medicine pricing rules introduced by the Turkish government will enable drugmakers to raise their prices following years of price suppression. We expect these changes to boost pharmaceutical sales in value terms over the next 10 years and improve the commercial opportunities for pharmaceutical manufacturers. Despite this positive development, the pricing environment in Turkey will continue to be challenging for drugmakers due to the ongoing enforcement of other government cost-containment measures.

Headline Expenditure Projections

Pharmaceuticals: TRY18.72bn (USD8.56bn) in 2014 to TRY20.81bn (USD7.85bn) in 2015; +11.1% in local currency and -8.3% US dollar terms.
Healthcare: TRY95.78bn (USD43.78bn) in 2014 to TRY107.17bn (USD40.44bn) in 2015; +11.9% in local currency and -7.6% US dollar terms.

Risk/Reward Index

Full Report Details at

Turkey's pharmaceutical Risk/Reward Index score for Q415 is 52.3, up from a score of 49.9 in the previous quarter. The country is ranked the eighth 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 the country scores higher than the average for the region on this indicator. In terms of risks, several rounds of pricing reforms mean the country scores less favourably, and below the regional average for this indicator.

Key Trends a nd Developments

The Turkish government enacted new drug pricing legislation entitled 'On the Pricing of Medicines For Human Use' in July 2015, superseding the controversial 2007 pricing law that introduced reference pricing for pharmaceuticals and a fixed exchange rate for converting reference prices into local currency prices. The law was introduced after the Research-Based Pharmaceutical Companies Association (AiFD) successfully sued the Ministry of Health in court for failing to revise the exchange rate within the Turkish reference pricing mechanism.

The Turkey Pharmaceuticals & Healthcare Report features BMI Research'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 Turkey pharmaceutical and healthcare industry.

Key Benefits

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

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