New Healthcare market report from Business Monitor International: "Turkey Pharmaceuticals & Healthcare Report Q2 2014"
Boston, MA -- (SBWIRE) -- 03/13/2014 -- Turkey's pharmaceutical market has faced stifling regulatory control over the last five years, which drugmakers have largely borne in return for access to a growing market. With market growth in question over the short-term and our 2014 forecast posing downside risk, macroeconomic developments are currently looming over pharmaceutical market development.
Headline Expenditure Projections
- Pharmaceuticals: TRY17.16bn (US$8.98bn) in 2013 to TRY18.27bn (US$8.19bn) in 2014; +6.5% in local currency and -8.7% US dollar terms.
- Healthcare: TRY109.66bn (US$57.37bn) in 2013 to TRY120.29bn (US$53.94bn) in 2014; +9.7% in local currency and -6.0% US dollar terms.
Turkey's Pharmaceutical Risk/Reward Rating (RRR) score for Q214 is 54.0, down from 56.5 in the previous quarter. Turkey's comparative ranking remains unchanged. The country is ranked the ninth most attractive business environment out of the 20 markets surveyed in Emerging Europe, declining from fifth in the previous quarter on account of a declining assessment of both market potential and regulatory risk.
View Full Report Details and Table of Contents
Turkey's large drug market, coupled with the sector's long-term growth potential, means that the country scores above the average for the region in spite of a slight downward adjustment to our appraisal. In terms of risks, several rounds of pricing reforms mean that the country scores slightly below the regional average.
Key Trends And Developments
- The Health Ministry of Turkey has decided to cancel the registration of pharmaceutical products that are not available in the market for a certain period of time. A large number of cancer patients are complaining about the absence of cancer drugs from the market, and have called for regulations concerning the availability of drugs. Under the 2014 flexible pricing practices, drug licences will be cancelled by the health ministry if they are not available in the market for one year. Meanwhile, the number of unavailable drugs has increased by around 50% since October 2013, to 471 from 310 items, according to the Istanbul Chamber of Pharmacists. Of the total of unavailable medicines, 60 were cancer drugs. Deposil (used to treat heart rheumatism), Genhevac hepatitis B vaccine, polio-Hib meningitis vaccine and Hiberix ACT medications were among the major drugs not being supplied to the market.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Sweden Pharmaceuticals & Healthcare Report Q2 2014
- Kenya Pharmaceuticals & Healthcare Report Q2 2014
- Croatia Pharmaceuticals & Healthcare Report Q2 2014
- Mexico Pharmaceuticals & Healthcare Report Q2 2014
- Thailand Pharmaceuticals & Healthcare Report Q2 2014
- Japan Pharmaceuticals & Healthcare Report Q2 2014
- Australia Pharmaceuticals & Healthcare Report Q2 2014
- Oman Pharmaceuticals & Healthcare Report Q2 2014
- Jordan Pharmaceuticals & Healthcare Report Q2 2014
- Algeria Pharmaceuticals & Healthcare Report Q2 2014