Turkey Cardiovascular Diseases Therapeutics Market Analysis

Turkey Cardiovascular Diseases Therapeutics Market Analysis


$ 3999

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

Buy Now

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
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 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

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 16 July 2024
Updated by: Shivam Zalke

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up