Recently Released Market Study: The Medical Device Market: Turkey
Fast Market Research recommends "The Medical Device Market: Turkey" from Espicom Business Intelligence, now available
Boston, MA -- (SBWire) -- 09/18/2013 --OVERVIEW OF THE MEDICAL MARKET IN TURKEY
As part of Turkey's bid to join the EU, national legislation regarding medical device regulation has been aligned with that of the EU, although that process is not yet complete and the two systems are not yet identical. As a result of this alignment, the regulatory environment in Turkey is far more complex and the processes much more comprehensive than elsewhere in the Middle East.
The government has placed an emphasis on developing its healthcare system, with the goal of establishing a Universal Healthcare System by 2013 as part of its ongoing reforms for the healthcare sector. In 2006, the government formed the Social Security Institution (SSI), which effectively merged the various social security (health insurance) organisations namely SSK, BagKur and Emekli Sandigi.
Around 86% of the medical device market is supplied by imports, which have risen rapidly in the past decade. In 2012, imports decreased by 4.4% compared with 2011 and by a 2007-2012 CAGR of 3.9%. Half of imports were sourced from the USA, Germany and China. In the 12 months to January 2013, imports decreased by 4.8% to US$1,934.1 million. In this period, the orthopaedic and dental sectors showed some growth but all other categories fell in value.
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