On the verge of its 100th anniversary, the Republic of Turkey appears to be approaching a decisive moment in the trajectory of its healthcare industry. With a comprehensive social security system covering over 95 percent of the population already in the bag, and after more than a decade of investment on world-class infrastructure, the country now seems willing to take the next step, striving to consolidate a globally competitive local industry.
The era of booming profits for the pharma industry is in the rear-view mirror, but new opportunities have arisen for companies willing to align with the country’s ambitious Vision. It is, after all, the 18th largest market in the world, worth over USD seven billion per year.
As the local industry races to the front of the upcoming biosimilars bonanza and pivots toward exports, multinational innovators are increasingly betting on clinical trials and new generation treatments as an ever-greater proportion of their value proposition.
Localization has consolidated Turkey’s manufacturing base and investment has continued to pour in, with patients reaping the benefits. The COVID-19 pandemic threatened to set the whole system back, but it left an invaluable learning instead, that selfless collaboration can lead to greater innovation.
Through the exclusive insights of policymakers, key opinion leaders, heads of local pharma and medtech companies, as well as multinational affiliate leaders, the story of a country in a make-or-break moment has emerged.