BMI Industry View: We expect t he Tur kish medical device market to fall by a CAGR of 0.7 % in US dollar terms over the 201 4 -201 9 period, although growth will be stronger, at 6.3%, in local currency terms. T he expansion of healthcare facilities is helping to drive market growth but this will be tempered by poor economic performance in 2015 . The market is largely supplied by imports but its reliance on medical devices manufactured outside of the country should reduce if the government is successful in implementing a project that is intended to boost the domestic production of diagnostic medical devices and other medical equipment.
Headline Industry Forecasts
In US dollar terms, market growth will be weak due to the projected depreciation of the Turkish lira against the dollar over the forecast period. The worst of this will take place in 2015, when we expect the local currency to depreciate by almost 30%. The 2014-2019 CAGR is projected at -0.7%, ranging from 0.9% for dental products to -2.3% for diagnostic imaging. We forecast the market to increase from USD2,609.9mn in 2014 to USD2,521.1mn in 2019.
Around 85% of the medical device market is supplied by imports. In the 12 months to June 2015, imports rose by 2.9% to USD2,200.6mn. Due to worsening economic performance and the depreciation of the Turkish lira, we expect medical device import growth to be weak in US dollar terms in 2015.
In the 12 months to June 2015, exports fell by 1.1% to USD374.3mn. Due to the depreciation of the Turkish lira, we believe that medical device export performance in US dollar terms will be poor in 2015.
Turkey has a large number of medical manufacturers, but these tend to be small-scale, concentrating on cheap, low-technology items, such as bandages and syringes. Domestic medical device production is estimated to be in excess of USD700mn.
Headline Industry Risk/Reward Index
Turkey is the fourth most attractive market in Central & Eastern Europe in which...
The Turkey Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Turkey provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Turkey Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Turkey, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Turkey.
- Target Business Opportunities in the Turkey Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Turkey.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.