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Turkey, a ‘pharmerging’ market, has evolved to this status after a series of economic and healthcare reforms. The country was at the verge of financial collapse until 2001 with inflation running in near three digits. However, the economic reforms implemented by the country have turned it into a dynamic economy. The country’s pharmaceutical industry has been a frontrunner in these reforms. Turkey has a growing pharmaceutical sector with around 300 pharmaceutical companies selling up to 1.3bn units of products every year. Factors that have fuelled the growth of the pharmaceutical industry in the country include economic growth, high healthcare expenditures, a young workforce and a host of companies delivering drugs to the populace. The reforms taken up by the country made the healthcare system more efficient, improving access for the population, besides bringing the system in sync with the standards of other EU nations. At the same time, the country’s growing economic consistency brought in foreign investment in the sector and bolstered consumer spending on pharmaceuticals. The healthcare reforms taken up by the country included implementation of a patent legislation in 1995, creation of a generics registration law in 1996 and establishment of a reference pricing system in 2004. However, the industry continues to have some problems still, such as a protracted product registration system and a reimbursement list that is deemed incomplete and biased. Key features of this report • Epidemiological analysis of the major diseases and forecast prevalence of the common diseases over the period 2008-14 . • Macroeconomic analysis of the country with a special focus on the healthcare sector reforms and its impact analysis. • An overview of the IPR climate, the recent amendments and current state of pharmaceutical innovation. • Detailed analysis of the leading therapeutic categories and classes including forecast sales over the period 2008-2014 and a review of the leading brands in each. Scope of this report • Develop an understanding of the Turkish healthcare system and the issues facing it. • Understand the IP laws in Turkey and how they affect the pharmaceutical R&D pipeline. • Understand how the companies are altering their strategies and adopting new business models to sustain profitable growth in the new political and economic climate. • Gain up-to-date competitive intelligence and understand the major issues affecting the pharmaceutical major. • Compare the franchises of top pharmaceutical p_layer_s across major indications, and understand how market share of leading companies will change over the next six years. Key Market Issues • Targeting niche therapeutic segments and overseas expansion Although Turkish companies have prospered in recent years, intense generic competition and regulatory hurdles have forced many local manufacturers to look for niche products and overseas markets to expand and drive future revenue growth. • Few local manufacturers with FDA approved sites Even though, Turkey has a large number of local manufacturers, only few of them have FDA approved production sites. For example, Mustafa Nevzat, one of the few FDA approved companies for finished products, is developing a production facility for oncology drugs which could export drugs to the US in the near future. • A lengthy reimbursement review process In Turkey, the average time a medicine spends in reimbursement review is over 225 days, which is much above the optimum time of 90 days. Besides, usage of generics is encouraged and so specialized therapeutics that have no generic equivalents seem to suffer. Key findings from this report • Turkey’s Ministry of Health (MoH) was one of the first state run bodies in the world to focus on disease prevention and not just treatment. MoH still remains the only body in the country that provides preventative healthcare services, besides being a key provider of primary and secondary care. • Over the recent past, Turkey has been improving its healthcare services by importing large quantities of modern machinery and equipment to improve the healthcare services in hospitals. In 2006 the MoH initiated a project to build medical centers in three major cities. The government has also been encouraging multinational companies to invest in the country’s healthcare industry. Key questions answered • How is the regulatory set up of the Turkish pharmaceutical market? • How does the Turkish pharmaceutical market compare with other emerging pharmaceutical markets? • What will be the major growth drivers in the Turkish pharmaceutical market over the period 2008-14? • Which companies were leading in the Turkish pharmaceutical market in 2008? • What are the key relative strengths of the leading companies? For More information please contact : http://www.aarkstore.com/reports/The-Turkish-Pharmaceutical-Market-Ou...