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INDUSTRIAL MARKET 13

SEE INDUSTRY

Pharmaceuticals industry in Turkey

Pharmaceutical manufacturing, with its direct im-

plications in the quality of human life, its high add-

ed value and cutting-edge technology, its experi-

enced workforce and export potential, has been

named a strategically important industry for its so-

cial and economic impacts in most countries

around the globe - and Turkey is one of them. Dic-

tated by the expansion of the country's medical

needs, the landscape of the Turkish pharmaceuti-

cal industry has changed quickly following the re-

form of the country's healthcare sector necessitat-

ed by the Turkish Ministry of Health's Health Trans-

formation Program.

The country's Pharmaceutical Manufacturers

Association (IEIS) claims that Turkey's pharma-

ceutical industry provides more than 11 thou-

sand kinds of products, which are being manu-

factured at different 67 facilities by international

standards. Approximately 300 companies and

31 thousand employees are involved in the in-

dustry. According to the Association, years and

years of production experience have engen-

dered the industry so that it is strongly commit-

ted to upholding international quality standards.

As a result, the manufacturing process itself is

heavily regulated by governmental institutions in

the pharmaceutical sector, which ensure that all

produced medicine is safe for consumption; the

cutting-edge technology deployed within the sec-

tor ensures quality on part with products in devel-

oped markets. Official papers show that the in-

dustry's footprint extends to 160 countries, which

include European Union (EU) members, coun-

tries from the Commonwealth of Independent

States (CIS), the Middle East, and North Africa.

Within the last couple decades the country's total

pharmaceutical sector has grown larger and the ma-

jor local players have flourished accordingly. Even

though the pharmaceutical market is dominated by

international companies, accounting for 31,5% of

the total market in 2012 as revealed by IEIS and

the foreign investment agency of Turkey, local man-

ufacturers such as Abdi Ibrahim (with a market

share of 7,5%) and Bilim Ilac (market share of

4,9%) had also held considerable shares in 2012.

Above all, the market is heavily fragmented based

on the fact that there are approximately 300 phar-

maceutical companies in Turkey.

In terms of the concentration on the entire mar-

ket, the number of the foreign firms operating in

the Turkish market increased from 73 in 2009 to

118 in 2015, show official reports for the industry.

Within the same period nearly 100 local firms ac-

cessed the market, leading to peak the number of

Source: Pixabay

Source: Pixabay