Vaccines - Turkey

Turkey

The Vaccines market in Turkey is expected to experience significant growth in the coming years.
By 2024, the revenue in this market is projected to reach US$246.00m Turkish Lira.
This forecast takes into account various factors such as market trends, demand, and investment in research and development.
Furthermore, it is anticipated that the Vaccines market in Turkey will continue to grow at an annual growth rate of -4.20% between 2024 and 2029.
This steady growth rate suggests that the market volume will reach US$198.50m Turkish Lira by 2029.
In a global context, it is worth noting that United States is expected to generate the highest revenue in the Vaccines market.
In 2024, the projected revenue United States is estimated to be US$29,120.00m US Dollars.
This indicates the dominant position of the United States in terms of market size and revenue generation.
Overall, the Vaccines market in Turkey shows promising prospects and is poised for significant growth in the coming years.
The projected revenue figures and growth rates demonstrate the potential for investment and development in this sector.
Turkey is experiencing a growing demand for vaccines, driven by the government's efforts to improve healthcare and prevent the spread of infectious diseases.

Key regions: Australia, Italy, France, South Korea, Brazil

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for vaccines in Turkey has been increasing steadily in recent years.

Customer preferences: The Turkish population has become more aware of the importance of vaccination in preventing diseases and protecting public health. This has led to a growing demand for vaccines, particularly for children and the elderly. In addition, the Turkish government has been actively promoting vaccination campaigns to increase immunization rates and reduce the incidence of preventable diseases.

Trends in the market: The Turkish vaccines market has been growing at a moderate pace, driven by increasing demand for both pediatric and adult vaccines. The pediatric vaccines segment is the largest in the market, accounting for the majority of revenues. The adult vaccines segment, on the other hand, is expected to grow at a faster rate due to the increasing prevalence of chronic diseases and the aging population.

Local special circumstances: Turkey has a well-established healthcare system with a large number of hospitals and clinics, which has helped to increase access to vaccines. In addition, the government has implemented a national immunization program that provides free vaccines to all citizens, which has helped to increase vaccination rates.

Underlying macroeconomic factors: Turkey's economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. This has contributed to the growth of the vaccines market, as more people are able to afford vaccinations. In addition, the government has been investing in healthcare infrastructure and services, which has helped to improve access to vaccines and increase immunization rates. However, the political and economic instability in the region could potentially impact the growth of the vaccines market in the future.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.