Turkey Bioinformatics Market Analysis

Turkey Bioinformatics Market Analysis


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Turkey's Bioinformatics market is projected to grow from $122.8 Mn in 2022 to $425.34 Mn by 2030, registering a CAGR of 16.80% during the forecast period of 2022-30. The main factors driving the growth would be the growing biotechnology industry, government support, and increasing demand for precision medicine. The market is segmented by technology and by application. Some of the major players include Erlab Technology (TUR), Iontek (TUR), Seven Bridges Genomics, Qiagen, and Bruker Corporation.

ID: IN10TRHS001 CATEGORY: Healthcare Services GEOGRAPHY: Turkey AUTHOR: Neha Davda

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Turkey Bioinformatics Market Executive Summary

Turkey's Bioinformatics market is projected to grow from $122.8 Mn in 2022 to $425.34 Mn by 2030, registering a CAGR of 16.80% during the forecast period of 2022-30. In 2019, national healthcare spending in Turkey as a percentage of GDP was 4.34% achieving $396 per capita. In Turkey, health spending per person increased from 154 US dollars in 2001 to 571 US dollars in 2008, but between 2008 and 2019, it decreased by an average of 1.81% year.

Bioinformatics is the management and analysis of biological data using computer technology. It entails gathering, analyzing, and disseminating biological data. In order to determine the functions of genes and proteins, identify evolutionary relationships, and predict the three-dimensional forms of proteins, computer programs are used. The bioinformatics market in Turkey is still relatively small and developing compared to established markets like the US and Europe.

turkey bioinformatics market analysis

Market Dynamics

Market Growth Drivers

The Turkey bioinformatics market is expected to be driven by factors such as the growing biotechnology industry, government support, and increasing demand for precision medicine. Moreover, Turkey's expanding patient population and use of electronic health records may result in more data being available for bioinformatics study and analysis, which could in turn drive the growth of bioinformatics in the country.

Market Restraints

The factors which are limiting the growth of the bioinformatics market in Turkey are a shortage of skilled professionals and a lack of infrastructure and resources for bioinformatics. Also, large patient data sets may not be readily available in Turkey for bioinformatics research and analysis, which would hinder the sector's expansion.

Competitive Landscape

Key Players

  • Erlab Technology (TUR)
  • Iontek (TUR)
  • Seven Bridges Genomics
  • Qiagen
  • Bruker Corporation

Notable Recent Deals

December 2021: Erlab announced the acquisition of Noroit, a french manufacturer of biological safety cabinets, laminar airflow enclosures, etc. With this acquisition, customers can expect ERLAB to introduce an unprecedented range of new filtration technologies, providing a holistic product offering spanning across multiple scientific disciplines like chemistry, biochemistry, healthcare, and environmental pollution. This acquisition signals the company's commitment to innovation, safety, and quality, which it will continue to uphold.

Healthcare Policies and Regulatory Landscape

The comprehensive healthcare system in Turkey is governed by a number of laws and rules. The Ministry of Health, which is in charge of the system's general management and administration, oversees the Turkish healthcare system. The government provides access to healthcare services for all citizens under the universal coverage principle that underpins the healthcare system. The public hospital system, primary care clinics, and specialty clinics form the backbone of the healthcare system. The healthcare services offered by private hospitals and clinics are likewise subject to government regulation.

The requirements for medical education and the procedures for healthcare provider accreditation are among the policies and guidelines that the Ministry of Health establishes for the healthcare system. The Ministry is also in charge of setting the rates for medicines, medical equipment, and other health-related goods. It is also in charge of paying for citizens' medical bills.

The Ministry of Health also controls how medical information is used and handled, including the security and privacy of patient data to be used for bioinformatics. The Ministry is also in charge of enforcing the Medical Devices and Pharmacy Act, which governs the licensing of pharmacies, the production of medications, and the registration, import, and distribution of medical devices.

Reimbursement Scenario

In Turkey, the Ministry of Health is largely responsible for providing healthcare services. The government also controls how healthcare services are reimbursed. In Turkey, the Social Security Institution (SSI) is primarily in charge of paying for medical treatments. Prescription medications, preventive services, inpatient and outpatient care, and a wide range of other services are all covered. Patients are asked to provide a small co-payment for some services; however, the SSI pays for the majority of the expenditures. Turkish citizens can also purchase private health insurance, which can pay for extra services not covered by the SSI.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Bioinformatics Market Segmentation

By Technology (Revenue, USD Billion):

  • Knowledge Management Tools
  • Bioinformatics Platforms
  • Bioinformatics Services

By Application (Revenue, USD Billion):

  • Metabolomics
  • Molecular phylogenetics
  • Transcriptomics
  • Chemoinformatic & drug design
  • Genomics
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 23 October 2023
Updated by: Jay Dalwadi

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