Turkey Pharmaceuticals & Healthcare Report

Published 25 March 2015

  • 123 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Turkey Pharmaceuticals & Healthcare Report

BMI View: Turkey possesses all the key growth fundamentals for an attractive pharmaceutical sector, but heavy regulatory oversight will stifle growth over the short term. Over the longer term, we expect the regulatory burden to lessen and become more amenable to the sector. In contrast to European markets where manufacturers can expect to achieve higher prices, but with a stagnant growth outlook, Turkey offers strong growth potential if drugmakers are able to accept prices that are considerably below the European average and turn a profit on the low margins available.

Headline Expenditure Projections

  • Pharmaceuticals: TRY18.28bn (USD8.38bn) in 2014 to TRY19.72bn (USD8.57bn) in 2015; +7.9% in local currency and +2.3% US dollar terms.

  • Healthcare: TRY109.41bn (USD50.19bn) in 2014 to TRY118.87bn (USD51.68bn) in 2015; +8.6% in local currency and +3.0% US dollar terms.

Risk/Reward Index

Turkey's Pharmaceutical Risk/Reward Index score for Q215 is 55.9, unchanged from the previous quarter. The country is ranked the fifth most attractive business environment out of the 20 markets surveyed in Emerging Europe. Turkey's large drug market, coupled with the sector's long-term growth potential, means the country scores considerably higher than the average for the region on this indicator. In terms of risks, several rounds of pricing reforms mean the country scores less favourably, and below the regional average for this indicator.

Key Trends And Developments

  • In November 2014, Abdi Ibrahim entered into a strategic licence agreement with Deef Pharmaceutical, a manufacturing and marketing company of Banaja Holding, a Saudi Arabia-based pharmaceutical distribution company in order to access the Saudi Arabian market. The agreement allows the firm to manufacture in Deef's plants 19 different forms of eight medicines, mainly covering the therapy areas of cardiovascular disease, central nervous system and respiratory conditions. It will also enable Abdi Ibrahim to export seven...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
13
Business Environment
14
Industry Forecast
15
Pharmaceutical Market Forecast
15
Table: Pharmaceutical Sales, Historical Data And Forecasts (Turkey 2010-2018)
17
Healthcare Market Forecast
18
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Turkey 2010-2018)
19
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Turkey 2010-2018)
19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Turkey 2010-2018)
20
Prescription Drug Market Forecast
20
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Turkey 2010-2018)
22
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Turkey 2010-2018)
23
Generic Drug Market Forecast
24
Table: Generics Drug Market Indicators, Historical Data And Forecasts (Turkey 2010-2018)
25
OTC Medicine Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Turkey 2010-2018)
27
Pharmaceutical Trade Forecast
28
Table: Pharmaceutical Trade Data And Forecasts (Turkey 2012-2018)
29
Table: Pharmaceutical Trade Data And Forecasts local currency (Turkey 2012-2018)
29
Key Risks To BMI's Forecast Scenario
29
Macroeconomic Forecasts
31
Table: Turkey - GDP By Expenditure
38
Industry Risk Reward Ratings
39
Central And Eastern Europe Risk/Reward Ratings
39
Turkey Risk/Reward Ratings
46
Rewards
46
Risks
47
Market Overview
48
Industry Trends And Developments
50
Epidemiology
50
Healthcare Sector
51
Healthcare Insurance
52
Healthcare Infrastructure
52
Healthcare Financing
54
Research & Development
55
Clinical Trials
57
Regulatory Development
59
Intellectual Property Regime
60
Market Access Issues
63
Pricing Regime
64
Table: Turkish Pharmaceutical Pricing Decrees
66
Reimbursement Regime
67
Table: Pharmacist Discount Related To Annual Sales Revenue (VAT Excluded)
68
Competitive Landscape
69
Pharmaceutical Sector
69
Domestic Industry
70
Foreign Industry
71
Company Activity
72
Wholesale
73
Pharmaceutical Retail Sector
74
Company Profile
76
Abdi -brahim
76
Eczaciba-i Healthcare
80
Sanovel Pharmaceuticals
84
EastPharma (Deva)
87
Mustafa Nevzat Ilac Sanayi (MN) Pharmaceuticals
91
Novartis
95
Pfizer
97
Sanofi
100
GlaxoSmithKline
103
Roche
106
AstraZeneca
109
Bayer
111
Merck & Co
113
Demographic Forecast
115
Demographic Outlook
115
Table: Turkey's Population By Age Group, 1990-2020 ('000)
116
Table: Turkey's Population By Age Group, 1990-2020 (% of population)
117
Table: Turkey's Key Population Ratios, 1990-2020
118
Table: Turkey's Rural And Urban Population, 1990-2020
118
Glossary
119
Methodology
121
Pharmaceutical Expenditure Forecast Model
121
Healthcare Expenditure Forecast Model
121
Notes On Methodology
122
Risk/Reward Ratings Methodology
123
Ratings Overview
124
Table: Pharmaceutical Risk/Reward Ratings Indicators
124
Indicator Weightings
125

The Turkey Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Turkey Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Turkey pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Turkey, to test other views - a key input for successful budgeting and strategic business planning in the Turkish pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Turkish pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.
  • Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • Macroeconomic Forecasts: 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 USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

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.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc