Turkey ENT Devices Market Analysis

Turkey ENT Devices Market Analysis

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Turkey's ENT Devices Market is projected to grow from $190 Mn in 2022 to $300 Mn by 2030, registering a CAGR of 6.3% during the forecast period of 2022-30. The rising prevalence of ENT disorders, such as hearing loss, sinusitis, and tonsillitis, is a major driver of the ENT device market. The market is highly competitive, with a large number of players operating in the space, ranging from small, specialized companies to large multinational corporations. The domestic key players in the Turkey ENT devices market include Fako Elektronik, Vefa Medical, and Faromed.

ID: IN10TRMD009 CATEGORY: Medical Devices GEOGRAPHY: Turkey AUTHOR: Dr. Vishwa Modhia

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Turkey ENT Devices Market Analysis Summary

Turkey's ENT Devices Market is projected to grow from $190 Mn in 2022 to $300 Mn by 2030, registering a CAGR of 6.3% during the forecast period of 2022-30.

Turkey is an upper middle-income, developing transcontinental country located in Southeastern Europe and Southwestern Asia bordering the Black Sea. The Ministry of Health (MoH), which is in charge of developing and executing healthcare policy, is also Turkey's major provider of healthcare services. In Turkey, over 6,000 companies are involved in the medical device and disposables sector. Turkey has attempted to incorporate more health IT solutions into the country's healthcare structure. Turkey's government spent 4.6% of its GDP on healthcare in 2020.

Turkey ENT Devices Market

Market Dynamics

Market Growth Drivers Analysis

Turkey is a booming market for medical technologies and healthcare services, with a population of approximately 84 Mn people. In 2020, Turkey's healthcare expenditure climbed by 24.3%. The universal healthcare system in Turkey covers 95% of the population. Turkey is a renowned medical tourism destination. Patients from Europe and the Middle East flock to Turkey for medical treatment because high-quality healthcare services are available at lower costs. Turkey has attempted to incorporate more health IT solutions into the country's healthcare structure. Many of the health IT products used by the MoH are developed by software developers. These aspects could boost Turkey's ENT Devices Market.

Market restrains.

Turkey continues to spend less on healthcare than the rest of the OECD. Almost 80% of Turkey's medical gadgets are imported. The United States accounts for around 20% of Turkey's medical gadget imports. Turkey has high import duties on medical products, making it difficult for international producers to enter the market and compete with domestic manufacturers. These factors may deter new entrants into the Turkey ENT Devices Market.

Competitive Landscape

Key Players

  • Fako Elektronik: A leading Turkish company that specializes in the design and production of ENT diagnostic and surgical instruments, including otoscopes, laryngoscopes, and endoscopes
  • I.C Medical: A company that produces a wide range of ENT devices, including surgical instruments, endoscopes, and diagnostic equipment
  • Medikus: A company that produces and sells surgical instruments, including those used in ENT procedures
  • Vefa Medical: A Turkish company that produces a range of medical devices, including ENT instruments, surgical instruments, and diagnostic equipment
  • Ceren Üretim: A company that produces medical devices for ENT procedures, including surgical instruments and endoscopes
  • Elektro-Optik: A manufacturer of diagnostic and surgical instruments for ENT procedures, including endoscopes and laryngoscopes
  • Faromed: A company that specializes in the production of ENT instruments and surgical equipment, including microscopes and endoscopes

Healthcare Policies and Reimbursement Scenarios

In Turkey, medical devices including ENT devices are regulated by the Turkish Medicines and Medical Devices Agency (TITCK). The reimbursement of ENT devices in Turkey is overseen by the Social Security Institution (SGK), which is the government agency responsible for healthcare reimbursement. In addition to the SGK, private health insurance providers also offer coverage for ENT devices.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 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 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

ENT Device Market Segmentation

The ENT Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

  • Diagnostic Devices
  • Surgical Devices
  • Hearing Aids
  • Hearing Implants
  • Co2 Lasers
  • Image-Guided Surgery Systems

By Diagnostic Devices (Revenue, USD Billion):

  • Endocsopes
  • Hearing Screening Devices

By Surgical Device (Revenue, USD Billion):

  • Powered Surgical Instruments
  • Radiofrequency (RF) Handpieces
  • Handheld Instruments
  • Balloon Sinus Dilation Devices
  • ENT Supplies
  • Ear Tubes
  • Voice Prosthesis Devices

By End Users (Revenue, USD Billion):

  • Hospitals and Ambulatory Settings
  • Home Use
  • ENT Clinics

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: Vidhi Upadhyay

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