Turkey Cardiovascular Diseases Therapeutics Market Analysis

Turkey Cardiovascular Diseases Therapeutics Market Analysis

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Turkey's cardiovascular disease therapeutics market is expected to witness growth from $1.3 Bn in 2022 to $2.3 Bn in 2030 with a CAGR of 7.72% for the forecasted year 2022-30. due to the rising demand for cardiovascular therapeutics and the introduction of newer drugs and their launches in Turkey. The Turkey cardiovascular disease therapeutics market is segmented by disease indication, drug type, route of administration, drug classification, mode of purchase, and by end user. Mirfarma, Farmazon, and Novartis are the major players in the Turkey cardiovascular disease therapeutics market.

ID: IN10TRPH033 CATEGORY: Pharmaceuticals GEOGRAPHY: Turkey AUTHOR: Dr. Parul Choudhary

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Turkey Cardiovascular Disease Therapeutics Market Executive Analysis

Turkey's cardiovascular disease therapeutics market is expected to witness growth from $1.3 Bn in 2022 to $2.3 Bn in 2030 with a CAGR of 7.72% for the forecasted year 2022-30. Turkey's healthcare system has undergone constant reform and drawn numerous investments totaling more than 30 billion USD. Prices, high standards of health and hygiene, tourist services, and air transportation infrastructure in Turkey are all crucial considerations when choosing a country for medical care. Turkey has worked to develop its medical tourism industry by enacting policies that benefit travelers, giving them visa-free access to more than 70 nations and allowing residents of more than 110 nations to enter with a simple visa that is valid for 90 to 180 days.

In Turkey, 3.4 Mn people had cardiovascular diseases (CVD), of which 2.5 Mn had ischaemic heart disease and 0.9 Mn had cerebrovascular disease. By 2035, 5.4 Mn more people are expected to have this condition. According to estimates, the fiscal cost of CVD was US$10.2 Bn in 2016 and is expected to double to US$19.4 Bn by 2035.

In Turkey, different types of cardiovascular medications are used to treat CVD. Antiplatelet medications, which stop platelet aggregation and keep blood clots from forming, are some of the most popular cardiovascular medications in Turkey. Aspirin and clopidogrel are two examples.  Lipid-lowering medications lower blood cholesterol levels, which can lower the chance of heart disease. Statins, fibrates, and bile acid sequestrants are some examples. hypertensive medications These medications lower blood pressure in hypertensive patients, which lowers the chance of CVD. Examples include ACE inhibitors, beta-blockers, calcium channel blockers, and angiotensin II receptor blockers (ARBs). Anticoagulants are medications that interfere with the blood clotting process to stop blood clots from developing. Heparin and warfarin are two examples. Drugs called antiarrhythmic agents to help regulate abnormal cardiac rhythms like atrial fibrillation. Examples include calcium channel blockers and beta-blockers.

Turkey Cardiovascular Disease Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

The general public in Turkey is becoming more conscious of the risks connected with CVD and the importance of prevention and treatment. This is increasing the need for CVD treatments and motivating more individuals to seek out medical care which is also due to the growing medical tourism industry in Turkey. The development and launch of new drugs, medical devices, and surgical techniques are just a few of the important technological developments in CVD therapeutics. As a result, CVD treatments are becoming more efficient and safe, which is expected to increase demand for the Turkey cardiovascular disease therapeutics market.

Market Restraints

Some patients may find it challenging to obtain or afford the required medications or procedures due to the high cost of treating CVD. This might reduce Turkey's desire for CVD medications.  Turkish regulation procedures for treating CVDs can be laborious and complicated. This might make it more difficult for businesses to release novel medicines or medical technology, which might have an impact on Turkey's cardiovascular disease therapeutics market expansion.

Competitive Landscape

Key Players

  • Zeincro (TUR)
  • İmuneks Farma (TUR)
  • Elbi Pharmaceutical (TUR)
  • Mirfarma (TUR)
  • Farmazon (TUR)
  • Novartis
  • Relypsa
  • Vectus Biosystems
  • Phasebio Pharmaceuticals
  • Ablative Solutions
  • Mylan
  • Curemark

Healthcare Policies and Regulatory Landscape

The Social Security Institution (SGK) and the Ministry of Health are mainly in charge of managing Turkey's cardiovascular health insurance and reimbursement policies.  All citizens and residents of Turkey have access to healthcare facilities thanks to the country's universal health coverage system. This covers services such as evaluation, treatment, and rehabilitation for cardiovascular health. Certain drugs used to address cardiovascular conditions, such as hypertension and hyperlipidemia, are covered by the SGK. The drug and the patient's insurance status can affect the reimbursement amounts. Depending on their insurance status, patients may have to make co-payments or deductibles for some cardiovascular health services. Depending on the treatment and the patient's coverage situation, the co-payment or deductible amount may change.  Programs for managing chronic illnesses, such as cardiovascular disorders, have been put in place by the Ministry of Health. By offering patients and healthcare professionals coordinated care and education, these initiatives seek to improve patient outcomes.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 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 Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

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

6. Methodology and Scope

Cardiovascular Disease Therapeutics Segmentation

By Disease Indication (Revenue, USD Billion):

  • Hypertension
  • Coronary Artery Disease
  • Hyperlipidaemia
  • Arrhythmia
  • Others

By Drug Type (Revenue, USD Billion):

  • Antihypertensive
  • Anticoagulants
  • Antihyperlipidemic
  • Antiplatelet Drugs
  • Others

By Route of Administration (Revenue, USD Billion):

  • Oral
  • Parenteral
  • Others

By Drug Classification (Revenue, USD Billion):

  • Branded Drugs
  • Generic Drugs

By Mode of Purchase (Revenue, USD Billion):

  • Prescription-Based Drugs
  • Over-The-Counter Drugs

By End Users (Revenue, USD Billion):

  • Hospital Pharmacies
  • Online Pharmacies
  • Retail Pharmacies
  • 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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Last updated on: 12 February 2024
Updated by: Dr. Purav Gandhi

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