Turkey Generic Drug Market to be dominated by Rising Cardiovascular and Diabetes Cases Through 2028
Increasing blood donation camps
and road accidents are driving the growth of the turkey Generic Drug market in
the forecast period 2024-2028.
According to the TechSci
Research report, “Turkey Generic Drug Market - By
Region, Competition, Forecast, and Opportunities, 2028F”, Turkey Generic Drug
Market is projected to increase at an impressive rate in the forecast period
2024-2028. The factors responsible for the growth of the market are strong domestic
production capacity, availability of a skilled workforce, growing ageing
population with a growing disease burden and rise in international investment
activity. Moreover, Turkey is the third-largest pharmaceutical market in
Central and Eastern Europe which in turn increases the demand of generic drug
production in turkey, fueling the market expansion. Opportunities anticipated
to drive market growth in forecast period are harmonization with the EU and
sector modernization holding considerable potential for the Turkish pharmaceutical
market.
To address these
health challenges, the Turkish government has implemented various policies and
initiatives, including increasing access to healthcare services, improving
disease surveillance and response systems, and promoting healthy lifestyles.
Additionally, the country has been actively vaccinating its population against
COVID-19, and as of 2021, around 80% of the population had received at least
one dose of the vaccine.
However, a significant factor
hampering the overall growth of the Generic Drug Market is a relatively low
per-capita drug spending, compared with other European markets. Moreover, due
to government efforts to reduce spending, there is economic conservatism in
public pharmaceutical spending. The other factors affecting the growth of the
market are in terms of resolving patent issues. Turkish law does not
effectively protect owners of intellectual property, which is an aspect that is
anticipated to limit the growth of the generic drug market.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Turkey Generic Drug Market.”
The Turkey Generic
Drug Market is segmented based on product type, mode of drug delivery, form, source,
distribution channel, and application.
Based on type,
the market is categorized into Small Molecule Generics and Biosimilars. The Small
Molecule Generics category is expected to increase at a high CAGR in the turkey
Generic Drug market. Based on mode of drug delivery, the market is categorized
into Oral, Parenteral, Topical, Others. The oral segment is expected to drive
the growth of the market throughout the forecast period 2024-2028. Due to its
benefits, including non-invasiveness, patient compliance, and ease of medication
delivery, it is the most favored method. The oral route of administration
refers to taking medication or drugs through the mouth, typically in the form
of tablets, capsules, liquids, or suspensions. It is one of the most common
routes of drug administration and has several advantages over other routes,
such as being convenient, non-invasive, and relatively safe.
Based on form,
the market is divided into Tablets, Capsules, Injections, and Others. The tablet
segment is expected to hold the largest market share in the forecast period,
2024-2028 owing to the high demand for easily stored medication such as tablets.
Moreover, tablets are easy to swallow and are coated to avoid the bitter taste
of active pharmaceutical ingredients, which in turn, drives the growth of the
generic drug market in Turkey.
Based on source,
the market is divided into Contract Manufacturing Organizations and In-House
Manufacturing. Contract Manufacturing Organizations are anticipated to gain
significant market share throughout the forecast period. Contract Research
organization are cost-effectiveness, flexibility, reduced capital investment and
provide specialized expertise in particular areas of drug development or
manufacturing, allowing them to provide high-quality, specialized services that
pharmaceutical companies may not have in-house. This factor supports the growth
of the market throughout the forecast period.
Major companies
operating in the Turkey Generic Drug Market are:
·
AbbVie
Türkiye
·
Amgen
Inc.
·
Bilim
Pharmaceuticals
·
Bristol-Myers
Squibb Company
·
EastPharma
Ltd
·
Ferring
Ílac Sanayi ve Ticaret Ltd Sti (Ferring Global)
·
Gensenta
İlaç Sanayi ve Ticaret A.Ş.
·
GlaxoSmithKline
Turkey
·
ITALFARMACO
S.p.A.
·
Menarini
Türkiye (Menarini Group)
·
Merck
& Co.
·
MS
Pharma
·
Novartis
Turkey
·
Pfizer
Turkey
·
Takeda
Pharmaceutical Company
Download Sample Report
Customers can also request for 10% free customization on
this report.
Based on distribution channels, the
market is categorized into Retail Pharmacies, Hospital Pharmacies, Online
Pharmacies, and Others. The primary factor contributing to hospital pharmacies'
domination in the market is the fact that the therapies listed under prescription
pharmaceuticals are frequently only able to be prescribed in hospital settings
under the supervision of qualified medical personnel. Additionally, a variety
of medications used to treat serious illnesses including cancer and orphan
diseases can only be given intravenously by qualified medical personnel.
Clinical outcomes are frequently improved as a result of the right treatment
and management of important diseases made possible by such excellent
therapeutic administration”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Turkey
Generic Drugs Market By Type (Small Molecule Generics and Biosimilars), By Mode
of Drug Delivery (Oral, Parenteral, Topical, Others), By Form (Tablets,
Capsules, Injections, Others), By Source (Contract Manufacturing Organizations
and In-House Manufacturing), By Distribution Channel (Retail Pharmacies,
Hospital Pharmacies, Online Pharmacies, Others), By Application (Cardiovascular
Diseases, Diabetes, Oncology, Neurology, Anti-Inflammatory Diseases, Others), By Company and By
Region,
has evaluated the future growth potential of Turkey Generic Drug Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Turkey Generic Drugs Market.”
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com