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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

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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.”

Mr. Ken Mathews
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New York – 10017
Tel: +1-646-360-1656
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