Pharmaceutical industry in Turkey - statistics & facts
Following Switzerland closely, Turkey was one of the biggest markets for pharmaceuticals , ranking 11th among European countries as of 2022. The industry is also considered one of the key sectors of the Turkish economy. With the enforcement of Good Manufacturing Practices (GMP) in the country since 1984, pharmaceutical production in the country has been carried out under international standards and has reached a technological infrastructure comparable to that of European countries.
The Turkish pharmaceutical industry has demonstrated a consistent rise in numerous indicators, including industry revenue, sales value of pharmaceuticals, expenditure on research and development, sales of leading companies, and export and import values. Given these developments, the sector will continue to contribute significantly to the Turkish economy.
The main indicators of the market
The demand for and spending on pharmaceuticals has been constantly increasing in Turkey in parallel with the growing population and higher life expectancy. Correspondingly, the sales value of pharmaceuticals in the country has been steadily going up over the past fourteen years, peaking at 211 billion Turkish lira in 2023. At the same time, the medicinal products market showed continuous growth as well, totaling 13 billion Turkish lira in 2023 compared to around 0.9 billion Turkish lira in 2015. In line with the growth in this sector, the expenditure on research and development in Turkey rose significantly over the past decade. In 2022, approximately 2.1 billion Turkish lira was spent on R&D in pharmaceuticals, an increase of nearly two billion Turkish lira from the figures recorded in 2010.Turkish pharmaceuticals imports and exports are both on the rise
As of January 1, 2018, Turkey is a member of the Pharmaceutical Inspection Co-operation Scheme (PIC/S), which includes countries such as Germany, Switzerland, the United States, Australia, and Japan. That was a significant accomplishment for the Turkish pharmaceutical industry in terms of expansion of the sector’s global reach and more trade opportunities. The export value of the pharmaceutical industry has been continuously rising since 2016, seeing the highest figure in 2023 at over two billion U.S. dollars. However, the value of imports in this industry has been rather higher than the exports, recording 5.7 billion U.S. dollars in 2023.Local pharmaceutical companies
Some major global companies operating in healthcare, pharmaceuticals, nutrition, and life sciences, such as Pfizer, Novartis, Bayer, and GlaxoSmithKline (GSK), have production, manufacturing, development, and clinical research facilities in Turkey. As for the domestic companies in the sector, Abdi İbrahim İlaç Sanayi ve Tic A.Ş. was by far the leading manufacturer, with its net sales exceeding 17 million Turkish lira in 2023. Ranking second, Deva Holding A.Ş. saw year-on-year growth in its net sales, registering roughly nine million Turkish lira in the same year.The Turkish pharmaceutical industry has demonstrated a consistent rise in numerous indicators, including industry revenue, sales value of pharmaceuticals, expenditure on research and development, sales of leading companies, and export and import values. Given these developments, the sector will continue to contribute significantly to the Turkish economy.
