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Turkish Pharmaceutical Market

Turkish Pharmaceutical market can be a lucrative opportunity if understood well and played according to rules, otherwise can be a dead end.

Today, Pharmaceutical Industry is one of the important contributors to Turkish Economy with its 500institutions, 69 facilities meeting the highest international standards, and 24 accredited R&D centers.
In 2017, Turkish pharmaceuticalmarket grew by a total of 20.2% in the hospital and pharmacy channels, reaching a total value of 24.54 billion TL. Unit sales rose by 3.4% to 2.22 billion units. The hospital market constituted 12.7% of the total market and 8.3% of unit sales for the year.
Due to dynamics such as the improvement in access to public health services and physicians as part of the Healthcare Transformation Program, the increase in average life expectancy, and a rising and aging population, the pharmaceutical sector grew by 37%, from 1.62 billion units in 2010 to 2.22 billion units within the course of the 6 years. This expansion equals a compound annual growth rate (CAGR) of 4.6%.
On the other hand the Market has its own unique rules and difficulties such as:
• Statutory Discounts of SSI
• Reference Pricing
• Turkish GMP requirement for Imported products
• Extensive usage of Free Goods (Bonus Goods) in Trade
• Strict restrictions on Promotion

Turkish Pharmaceutical market can be a lucrative opportunity if understood well and played according to rules, otherwise can be a dead end.

Today, Pharmaceutical Industry is one of the important contributors to Turkish Economy with its 500institutions, 69 facilities meeting the highest international standards, and 24 accredited R&D centers.
In 2017, Turkish pharmaceutical market grew by a total of 20.2% in the hospital and pharmacy channels, reaching a total value of 24.54 billion TL. Unit sales rose by 3.4% to 2.22 billion units. The hospital market constituted 12.7% of the total market and 8.3% of unit sales for the year.
Due to dynamics such as the improvement in access to public health services and physicians as part of the Healthcare Transformation Program, the increase in average life expectancy, and a rising and aging population, the pharmaceutical sector grew by 37%, from 1.62 billion units in 2010 to 2.22 billion units within the course of the 6 years. This expansion equals a compound annual growth rate (CAGR) of 4.6%.
On the other hand the Market has its own unique rules and difficulties such as:
• Statutory Discounts of SSI
• Reference Pricing
• Turkish GMP requirement for Imported products
• Extensive usage of Free Goods (Bonus Goods) in Trade
• Strict rectricitions on Promotion

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