Turkish life science industry’s favorable investment climate

Big pharmaceutical companies and foreign investors are flocking to Turkey to capitalize on its encouraging economic policies.


(Photo Courtesy: www.dreamstime.com)

The establishment of technology development zones that exempt pharmaceutical entrepreneurs and academics from income taxes until 2023 has played a particularly crucial role in driving R&D activity in the nation's life sciences industry.

New analysis from Frost & Sullivan, 2014 Life Sciences Outlook in Turkey, finds that the market earned revenues of $14.53 billion in 2013.

The study covers pharmaceuticals and clinical diagnostics.

The pharmaceutical segment was valued at $14.04 billion in 2013 and is estimated to reach approximately $21.65 billion in 2018 at a compound annual growth rate (CAGR) of 9.1 percent.

The clinical diagnostics segment accounted for the rest of the total life sciences market revenues in 2013 and is forecasted to hit $0.70 billion in 2018 at a CAGR of 7.4 percent.


Previous 1 Next

Leave a Reply Sign in

Notify me of follow-up comments via e-mail address

Post Comment

Survey Box

Union Budget

Has Union budget 2017 addressed all requirements of healthcare industry?

Send this article by email