Turkey heading towards target of becoming a top 10 global healthcare economy by 2023
The Ministry of Health of Turkey (Turkish Medicines and Medical Devices Agency) is extensively supporting the four-in-one event, CPhI Istanbul 2016 to be held at Istanbul, Turkey, during 1-3 June 2016. According to the government data, Turkey has already established itself as the regional healthcare sector hub. With the fastest growth rate in the OECD averaging 6.7% annually over 2011-2018, the nation is proceeding towards the government’s target of becoming a top 10 global healthcare economy by 2023. CPhI Istanbul, will play an immense role to provide significant market information, key growth opportunities, and create new strategic collaborations to ensure future business success. The Turkish healthcare market has an end-user spend of USD 9.1 billion and stands as the seventh largest in Europe, with 80 production facilities, 20,000 employees, and direct access to the pharma markets of the Middle East and North Africa. In the past few years, there has been a surge of industrialization within Turkey, as the population increases; demand for higher quality health products is increasing.