The report, titled “Turkey Medical Device” assesses the Turkey market in terms of the types, their end-use, and location. A thorough report offers comprehensive historical and projected market size, along with a forecast analysis. The report focuses on the analysis of market share capacity of production by the top players, a competitive overview of strategic imperatives, the annual figures for sales, development opportunities, a summary of production, as well an assessment of competition for the players that are targeted in the Turkey market research study for medical devices.
Marketing Overview and Dynamic: Growing government support to increase the internal production of medical devices in Turkey
Turkey’s market for medical devices is predicted to expand significantly at an annual rate of 7.8 percent over the period 2022-2028. Government assistance through production and R&D incentives as well as technological advances in the field of medical devices will positively impact Turkey’s market’s expansion. The country imports more than 80 percent of its medical devices, which increases the need to increase the capacity of production in-house, thereby reducing dependence on imports. Additionally, Turkey has geographical proximity to the most important markets for medical technology and is conveniently situated as a manufacturing and management center, which is further helping the development of the market.
Turkey’s market for medical devices is predicted to witness significant growth over the coming six years because of the increasing health expenditures, the increasing focus of government, and the rising prevalence of chronic diseases. The growing number of chronic diseases is predicted to boost demands for medical equipment across Turkey. There is a rising incidence of chronic illnesses including diabetes, cancer, and other diseases that are infectious because of sedentary lifestyles and the consumption of unhealthy foods, leading to a rise in hospitalizations and use of medical devices within the country.
Additionally, the supportive regulations for the industry are also expected to help accelerate the development of the medical device industry in Turkey. Turkey’s government Turkey is assisting the market for medical devices by investing in infrastructure development and technological advancement. The increase in healthcare professionals in Turkey will result in the development of the entire healthcare industry. Manufacturers of medical devices need to adhere to the Turkish Medical Device Regulation (MDR) as well as the Medical Device Vitro Diagnostic Regulation for their products to be sold in Turkey.
Segmental Analysis
- Based on Type, The Consumables segment is predicted to grow significantly in the coming years. According to RationalStat Analysis, the growth is expected to see the market grow to US$6.8 billion by 2026. 6.4 billion in 2026, making consumables the second fastest expanding segment.
- Based on the end Utilization, hospitals are predicted to expand at a rapid pace over the forecast period due to a large number of patients.Competition Analysis
Turkey medical device market observes intense competition as a result of the presence of a large number of established players. Manufacturers of medical devices are incorporating advanced technology and increasing their production capacity which is anticipated to propel the demand for Turkey medical device market. Moreover, public and private companies are continuously investing in the development of the market. Product innovations, launches, and partnerships are the identified industry trend in the Turkey medical device market. For instance,
- In August 2021, Medtronic plc a global leader in medical device and healthcare technology announced its acquisition of Intersect ENT in order to offer more efficient services and products to their customers.
- In February 2021, GE Healthcare announced the first strategic collaboration in Turkey with CUREA at Technopol Istanbul, to accelerate AI development in Medical Imaging.
Some of the leading players involved in the Turkey medical device market include Medtronic plc, Stryker, GE Healthcare, 3M Co., Dentac, Umg Uysal, Ayset Medical Urunler San. A.S., Oruba Medical Technology, Hasel Medical Industry and Trade Joint Stock Company, Archem Health Industry and Trade Inc., Dehas Medical Co., Altan Industrial and Laboratory Appliances Trd., Ind. JSC, Melekirmak medical products co. ltd., and Dora Pharma LLC among others.
RationalStat has segmented the Turkey medical device market on the basis of type, end use, and region.
- By Type
- Patient aids
- Dental Products
- Orthopedics & Prosthetics
- Diagnostic Imaging
- Consumables
- Others (Smart Meters, etc.)
- By End Use
- Hospitals
- Clinics
- Diagnostic Centers
- Research Laboratory
- Others (Pharmaceutical Companies etc.)
- By Region
- North Turkey
- West and Central Turkey
- East Turkey
- South Turkey
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