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Despite market access hurdles, Turkey’s pharmaceutical market holds tremendous growth potential-in both value and volume. But will the country be able to take that final step in creating a regulatory and economic environment that is conducive to further upward development?
Turkey stands out as one of the world’s most interesting healthcare and pharmaceuticals markets in 2019. It is a country that occupies the grey area between being a developed and an emerging market-it, at once, displays the traits of an “emerged economy,” with a mature universal healthcare and reimbursement system, as well as traits of a developing country, with capricious currency fluctuations, political tensions and untenable trade deficits denominated in foreign currencies.
“Despite persistent market access hurdles, there is no doubt that Turkey’s pharmaceutical market holds tremendous growth potential both in terms of value and volume,” summarizes Gilles Renacco, general manager of Servier Turkey. Furthermore, “there is skilled, energetic, and driven talent here, dedicated to moving the country forward,” highlights Dr. Fabrizio Guidi, country chair and general manager, Rx, at Sanofi Turkey between January 2015 and November 2018, who became Sanofi’s general manager, primary care GBU, Germany, Switzerland, and Austria, and country chair, Germany, this month.
What remains to be seen is how the country is able to take that final step in creating a regulatory and economic environment that is conducive to further growth-very few, though, would deny that all of the pieces are in place for Turkey to indeed go beyond.
To view the full article on Turkey's pharmaceutical and healthcare markets, produced by Focus Reports and featured in Pharm Exec's January 2019 issue, click
(cycle down to page 30).
To preview and purchase other in-depth global Phama Reports, highlighting several countries and emerging markets, please visit www.industrymatter.com/reports