Turkey's oncology clinical trials market is projected to grow from $101.2 Mn in 2022 to $161.3 Mn by 2030, registering a CAGR of 6% during the forecast period of 2022-30. The market will be driven by the country's expanding healthcare infrastructure and increased emphasis on R&D. The market is segmented by phase, by study design & by indication. Some of the major players include Pfizer Inc., Roche Holding AG & Deva Holding.
Turkey's oncology clinical trials market is projected to grow from $101.2 Mn in 2022 to $161.3 Mn by 2030, registering a CAGR of 6% during the forecast period of 2022 - 2030. According to data provided by clinicaltrials.gov, 903 clinical studies were launched in Türkiye between September 1, 2021, and September 1, 2022. Neurology has the highest proportion (105), followed by oncology (95) and orthopedics (71). According to current data from Invest in Turkey, Turkey accounted for around 1.5% of the global pharmaceutical industry in 2020. In Turkey, the most prevalent types of cancer in males are trachea, bronchial, and lung cancer, whereas lung cancer is the fourth most common kind of cancer in women. According to the data by Globocan 2020, in Turkey, there were 2,33,834 new incidences of cancer with 1,26,335 fatalities.
Turkey has taken part in a variety of international oncology clinical studies. These studies are looking at novel therapies for breast cancer, lung cancer, and leukaemia. Turkey has also carried out clinical studies for the development of novel cancer treatments. The Turkish Ministry of Health has created clinical trial guidelines and regulations, including those for oncology trials. These principles guarantee that clinical trials are carried out ethically and with patient safety as a top priority. In order to facilitate clinical trials, the Turkish Ministry of Health fosters partnerships between universities, hospitals, and research institutions. Turkey has boosted its involvement in clinical trials in recent years, and the nation is becoming an increasingly appealing place for conducting studies owing to its huge patient population and reduced expenses compared to Western countries. Additionally, Turkey's strategic position between Europe and Asia makes it an attractive venue for international clinical trials.
Market Growth Drivers
One of the major elements is the country's expanding healthcare infrastructure and increased emphasis on R&D. The Turkish government has invested in the construction of research facilities and hospitals, which has assisted in attracting foreign pharmaceutical firms to perform clinical trials in the country. Moreover, Turkey's vast patient population is a significant motivator for conducting clinical trials, since it allows for quicker patient recruitment and more reliable findings. Another driver is that clinical trials in Turkey are less expensive than in Western nations. Turkey's cost advantage has made it an appealing venue for international clinical trials, especially for corporations trying to lower their R&D expenses.
The regulatory environment, which may be complicated and time-consuming, is one of these constraints. Businesses may have difficulties in gaining required clearances and licenses, which might hold down the clinical trial procedure. Moreover, there may be difficulties in finding and maintaining skilled healthcare professionals and research personnel in Turkey. Although the country's healthcare infrastructure is improving, there is still a scarcity of skilled cancer specialists and clinical trial coordinators. This scarcity may impede the expansion of clinical trials in the nation.
December 2021, RS Research wants to extend its trial pipeline with a $12 Mn investment in targeted cancer drug delivery. In Turkey, the biotech is presently developing one medication, a possible therapy for non-small cell lung cancer.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation 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)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
6. Methodology and Scope
By Phase (Revenue, USD Billion):
By Study Design Outlook (Revenue, USD Billion):
By Indication Outlook (Revenue, USD Billion):
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