The Turkish drug market is witnessing rapid growth as the country's recovery from the 2002 economic crisis picks up pace. According to BMI, pharmaceutical sales should reach US$11.1bn in 2010. Interest rates have been reduced in the country, a move set to boost consumer spending on pharmaceuticals. In the long term, the country's young and growing population, in addition to the possibility of closer involvement with the European Union, should help the drug market to continue to expand.

Meanwhile, recent reforms of the country's social security system are also set to have a dramatic impact on drug expenditure. This will involve the introduction of a basic universal health insurance system, which will cover 90% of the population. When combined with other key reforms, such as the availability of more cost-effective pharmaceuticals, this should go some way to providing affordable healthcare and, hence, expand the marketplace in the longer term.

BMI's adjusted Business Environment Rankings for the Middle East & Africa reveal that Turkey is in 3rd place. This is primarily due to forecasts of high market growth, coupled with the sheer size of the pharmaceutical market in the country. Turkey's poor regulatory system is an investment barrier, as is its policy of strict price controls. The country's long term political and economic outlook is improving, as the government toes the IMF line on economic policy and also looks towards EU accession.

Turkey's intellectual property regime has improved in recent years, but is still widely regarded as lax. In 2005, US trade association PhRMA recommended Turkey be placed on the Office of the US Trade Representative (USTR)'s Special 301 Watch List on market access barriers. This was primarily due to concerns over the country's inadequate data exclusivity laws, stringent price controls and the lack of an effective patent linkage system. Government procurement policies are also biased towards generic producers, with research-based drugmakers citing the fact that they have had to reduce prices by 20%, while generic manufactures have only had to cut them by 2.5%.

Key Benefits of Report

Rely On Our Independent 5-Year Forecasts As A Benchmark
to test other views - a key input for successful budgetary and strategic business planning.

Target Business Opportunities & Risks
through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments

Exploit Latest Competitive Intelligence & Company SWOTS
on your competitors and peers through company rankings by sales, market share and ownership structure - includes multinational and national companies.

Additional Information

Scope of Report

Executive Summary & Industry SWOT

An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI’s forecast analysis, and taken together with BMI’s Economic and Business Environment SWOTS, give a complete overview of market climate.

Market Summary

Outline of market characteristics, growth factors, leading therapeutic segments and a competitivness of the market.

Regulatory Regime

Guide to and analysis of country intellectual property developments and pricing & reimbursement issues, which constitute the regulatory make-up of the market.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D and patent legislation.

BMI 5-Year Industry Forecast

5-Year Forecasts to end-2010 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Drug market expenditure (US$bn); drug expenditure per capita (US$); as % of gdp

Prescription drug market (US$bn)/as % of total market; sales by alimentary tract/metabolism; antibiotics, cardiovascular, central nervous system, oncology, musculoskeletal and respiratory system

OTC market (US$bn)/as % of total market (sales by analgesic, cough and cold, digestives, skin treatments, vitamins and minerals)

Generics market (US$bn)/ as % of total market

Health expenditure (US$bn, % of gdp and per capita); public sector health expenditure as % of total; number of hospitals; beds, hospital admissions, doctors, births and deaths per 000 population

Forecasts based on bespoke BMI economic modelling, using historical data sets of macroeconomic and industry variables to derive rigorous statistical relationships, anchored in advanced linear regression techniques.

BMI 5-Year Macroeconomic Forecasts

BMI forecasts for all headline macroeconomic indicators, including:
Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against US$, government expenditure, external debt

Competitive Landscape & Profiles

Intelligence on the market position of major MNC power houses and indigenous companies. BMI profiles key research-based companies. Company SWOTS are provided for all key strategic players, complete with a company activity overview, its leading products and analysis of business opportunities.

Related Reports:
Snapshots US Nasal Products 2009
Snapshots Spain Pharmaceuticals 2009
Snapshots Poland Pharmaceuticals 2009
Snapshots Denmark OTC Pharmaceuticals 2009
Snapshots US Pharmaceuticals 2009
Mapping the Healthcare Landscape Bringing pharmaceuticals into focus
Snapshots South Africa Pharmaceuticals 2009
Snapshots US OTC Pharmaceuticals 2009
Snapshots Hungary Pharmaceuticals 2009
Snapshots Venezuela Pharmaceuticals 2009