New Healthcare market report from Business Monitor International: "Turkey Pharmaceuticals & Healthcare Report Q3 2013"
Boston, MA -- (SBWIRE) -- 08/20/2013 -- Despite pricing decrees in the last months of 2009, 2010 and 2011, BMI still believes the market is attractive in the long term, particularly in comparison with the stagnant growth expected in developed Europe. We believe that, provided drugmakers are prepared to sell pharmaceuticals well below the average European price and can control costs to achieve this, there will continue to be strong revenuegenerating potential in the Turkish market as higher year-on-year (y-o-y) growth rates return from 2013/14.
Headline Expenditure Projections
- Pharmaceuticals: TRY16.39bn (US$9.11bn) in 2012 to TRY17.12bn (US$9.51bn) in 2013; +4.4%% in local currency and US dollar terms. Forecast down marginally from previous quarter due to new historic market data.
- Healthcare: TRY97.13bn (US$53.96bn) in 2012 to TRY105.29bn (US$58.49bn) in 2013; +8.4% in local currency and US dollar terms.
View Full Report Details and Table of Contents
Risk/Reward Rating: Turkey's Pharmaceutical Risk/Reward Rating (RRR) score for Q313 is 58, up from 53 in Q2. As a consequence, the country rises to fifth out of the 20 Emerging Europe markets surveyed. Turkey's large drug market, coupled with the sector's long-term growth potential, means that the country scores relatively well for rewards. In terms of risks, several rounds of pricing reforms mean that the country scores closer to the regional average.
Key Trends And Developments
- In February 2013 the Turkish authorities signalled their intention to remove Greece from a list of reference countries when determining drug prices on the domestic market. Greece's economic depression has seen its government implement significant cuts to pharmaceutical expenditure for its public healthcare system, as well as impose strict pricing controls and levies on the pharmaceutical sector. The price of drugs in Greece has decreased continuously as the government strives to contain the costs of treating its relatively profligate population.
- In February 2013, Turkey passed new laws aimed at liberalising investment regulations in private healthcare within the country, a move designed to expedite foreign direct investment into the healthcare sector. The legislation offers VAT exemption and cheap loans to foreign investors in return for renting hospitals built by the private sector for 25 years. It has also cut red tape for investors, reducing the number of permits and level of planning permission required.
About Fast Market Research
Fast Market Research is an online aggregator and 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 will 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:
- Nigeria Pharmaceuticals & Healthcare Report Q3 2013
- Malaysia Pharmaceuticals & Healthcare Report Q3 2013
- Croatia Pharmaceuticals & Healthcare Report Q3 2013
- Kuwait Pharmaceuticals & Healthcare Report Q3 2013
- Latvia Pharmaceuticals & Healthcare Report Q3 2013
- Sweden Pharmaceuticals & Healthcare Report Q3 2013
- Australia Pharmaceuticals & Healthcare Report Q3 2013
- Lebanon Pharmaceuticals & Healthcare Report Q3 2013
- Jordan Pharmaceuticals & Healthcare Report Q3 2013
- Russia Pharmaceuticals & Healthcare Report Q3 2013
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)