CPhI Istanbul

Date
2015-06-03 - 2015-06-05
Organizer
Event contact first name
Jessica
Event contact last name
Lindelauf
Email
cphiistanbul@ubm.com
Event contact telephone number
310204303414
Description
Turkey's pharma market is poised for growth: As a result of aging populations, extended life spans and socioeconomic changes around the world, health services is one of the most important topics of the 21st century. The Turkish Government aims to make Turkey one of the world’s top ten economies in health services by 2023 by increasing R&D expenditures to 3% of GDP and by increasing exports to USD 500 billion. Moreover, according to the Turkish Ministry of Science, Industry, and Technology (AIFD)’s Strategy Report, Turkey should become the Eurasian production base for medium- and high-level technology products. According to the OECD, Turkey is expected to be the fastest growing economy of its members, with expected annual average growth rate of 6.7% between 2011-2017. The Turkish pharmaceutical market is expected to reach USD 23.3 billion by end 2023 and the MENA region constitute 2% of global pharmaceutical sales. Total end-user spending is projected at USD $9.1 billion, which makes Turkish pharmaceutical sector rank 7th in Europe and 16th in the world according to the AiFD (Association of Research-Based Pharmaceutical Companies in Turkey.

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