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Turkey – TRIUMPH country

03, 2014

With the sixth-largest pharmaceutical mar­ket in Europe and the largest mar­ket in the Mid­dle East, Turkey takes the top spot on our list of TRIUMPH markets. With a strong indus­trial and tech­ni­cal infra­struc­ture and an attrac­tive geo­graph­i­cal posi­tion, Turkey epitomises opti­mal con­di­tions for for­eign enter­prises.

Due to grow­ing pop­u­la­tion fig­ures, higher life expectan­cies and an ever-increasing income per capita, it is real­is­tic to expect fur­ther growth in the Turkish phar­ma­ceu­ti­cal mar­ket. Con­cerns about per­sonal health and readi­ness to invest more money in health­care prod­ucts will also bring about pos­i­tive changes. The Turk­ish government’s cur­rent plans to mit­i­gate legal pro­ce­dures for adver­tis­ing, as well as for the sale of OTC prod­ucts, will greatly ease mar­ket access. Addi­tion­ally, there is strong evi­dence that the gov­ern­ment will fur­ther lib­er­alise Pharma retail trade and, in doing so, create the oppor­tu­nity of selling OTC and Pharma prod­ucts in super­mar­kets. At present, many Western European Health­care com­pa­nies have low turnovers in Turkey or agree that it holds a posi­tion out­side the top 50 in the mar­ketplace, despite the fact that Turkey’s ranks among the fastest-grow­ing Health­care mar­kets. Action should be taken to access the mar­ket quickly — before the competition.

CPC Press Releases on Turkey:

Turkey: An Overview