|
|
 |
|
Viewing report
|
|
|
|
Turkey Pharmaceuticals & Healthcare Report Q1 2009
Business Monitor International, Jan 2009, Pages: 86
BMI's Turkey Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Turkey's pharmaceuticals and healthcare industry.
Turkey represents one of the most dynamic pharmaceutical markets in Central and Eastern Europe (CEE) thanks to its large value and strong growth in recent years. After extending our forecasts for the Q109 report, BMI believes that total pharmaceutical expenditure will reach a value of US$22bn by 2013, representing average annual growth of 10%. While growth and value remain high, per capita spending will still be relatively low by the end of 2013, relative to more developed markets.
In BMI’s Business Environment Rankings for CEE, Turkey ranks joint fourth with Russia and Estonia. While market scores are among the strongest in the region, weak risk scores prevent the country from topping the rankings. In 2008, Turkey was placed on the United States Trade Representatives Special 301 Watch List, having received an improved appraisal. The USTR cautioned the health and patent authorities to prevent patent abuse. In 2009 there are likely to be improvements in the country’s score with the implementation of various regulatory and legislative changes, including a new medicines monitoring system. However, intellectual property (IP) weaknesses are likely to remain a key drawback for innovative firms.
A recent report from non-profit organisation the International Investors Association (YASED) says that an increase in IP rights would bring about a significant increase in foreign direct investment (FDI). The report notes that a 10% improvement in IP protection equates to a 16% increase in the stock of FDI. This would result in an extra US$19.2bn of FDI in the country, which would in turn increase national income and export volume, as well as creating jobs.
Certain industry sections have recently complained that despite the government's bold vision to expand R&D activities in Turkey, more needs to be done to tap the US$90bn spent by the pharmaceutical sector on research each year. The most critical factors affecting future spending will be the approval of a new clinical trials directive and the improvement of the country's regulatory environment
Despite this, Turkey continued to attract a number of high profile multinationals in late 2008. November saw the Turkish subsidiary of Japanese pharmaceutical firm Daiichi Sankyo acquire 20 staff members of Merck Ilac's cardio-metabolism sales force. Meanwhile leading Italian drugmaker Recordati increased its profile in Turkey following the acquisition of local manufacturer Yeni Ilaç. The deal was valued at EUR48mn (US$63mn).
Local firm Abdi Ibrahim remains the leading company by market share; however, multinationals Novartis and Sanofi-Aventis follow closely. While Abdi Ibrahim has strong ambitions to expand, it is likely that improved financing for pharmaceuticals and stronger intellectual property enforcements will
see multinationals dominate the top positions in the longer term.
Also available
Turkey Pharmaceuticals and Healthcare Report Q2 2009
Customers who bought this item also bought
Turkey Pharmaceuticals and Healthcare Report Q3 2008
Turkey Pharmaceuticals and Healthcare Report Q4 2009
Turkey Pharmaceuticals and Healthcare Report Q2 2008
Turkey Pharmaceuticals and Healthcare Report Q3 2007
The Pharmaceutical Market: Turkey
Turkey Pharmaceuticals and Healthcare Report Q4 2008
India Pharmaceuticals and Healthcare Report Q3 2008
Analgesics in Turkey
Slovenia Pharmaceuticals and Healthcare Report Q1 2009
The Outlook for Pharmaceuticals in South East Asia to 2013
Chile Pharmaceuticals and Healthcare Report Q4 2009
Emerging Markets Series: Benchmarking Key Countries Brazil, Russia, India, China and Turkey
|
|
|
|
