Turkey is the 17th largest economy in the world and Turkish economic growth prior to the economic crisis was almost three times larger than in the main export markets.
On the back of the economic crisis Turkey has experienced stellar growth - around 8-9% in 2010 and 2011. In the coming years the Turkish economy is, however, going to advance at a slower pace - around 3-3.5%.
Turkey is currently the 27th largest market for Danish goods and service exporters. The volume of Danish exports to Turkey is around DKK 5.7bn in 2011, however this figure has increased by more than 40% since 2005.
Exports to Turkey consist mainly of machinery, industrial products and chemicals (they account for almost 90% of total exports to Turkey). But almost 50% of Danish exports to Turkey consist mainly of pharmaceuticals.
Health expenditure of Turkey consists of only 6.2% of the GDP which is about18 billion€ (2010). Health expenditure per person is around 600 $ (compared to apprx. 5.000 $ in the EU and 8.000 $ in the USA).
The market is dominated (85%) by imports and the volume of imports is around 1, 8 billion $. The share of cheap imports from the Far East is increasing).
Why Healthcare Sector in Turkey?
? Growing population and improved quality of life.
? Market regulations increasingly in line with the EU regulations.
? The Healthcare & Pharmaceutical Sectors are experiencing significant growth. Turkey is one of the fastest growing healthcare and pharmaceutical markets in Europe.
? Commitment from the government regarding healthcare improvements.
? Turkey is implementing radical reforms during the period of 2003-2013 with the purpose of increasing the quality and efficiency in the healthcare system.
? A universal health insurance system has recently been introduced in Turkey. This increases the demand for products within this sector.
? Private hospitals also provide services for the public service on a contract basis.
? Turkey’s needs in medico-hospital materials are large. Hospital establishments are under-equipped.
? Denmark can play a leading role in the Turkish Healthcare sector with its know-how.