04/02/13 12:10 Turkish pharma market forecast to see double digit growth until 2015 - report - APM Health Europe Page 1 sur 1 http://apmhealtheurope.com/print_story.php?numero=32731 Wednesday, 16 January 2013 13:17 GMT KEYWORDS : M&A MEDICAL DEVICES REIMBURSEMENT OTC R&D Turkish pharma market forecast to see double digit growth until 2015 - report ISTANBUL, Jan 16 (APM) - Turkey's pharmaceutical market is set to grow 10.4% annually until 2015, according to consultancy firm Frost & Sullivan. In a web conference broadcast late on Tuesday, Hilal Cura, healthcare research analyst for the firm, said the market, spurred by the health transformation programme launched by the government in 2003, should grow from $9.1 billion in 2011 to $13.5 billion in 2015. After 2012, biotechnology-based drugs, which accounted for only 11% of the market in 2011, are expected to grow by 15% a year and will exceed revenues from chemical drugs, she pointed out. Cura added that diabetes, oncology and respiratory sectors would have the highest growth, whereas in the past, cardiovascular and antibiotics drugs were the most important in terms of market share. Cancer drugs generated revenues of $637 million in 2011, with average annual growth of 15% since 2008. Overall, patented drugs accounted for 54% of the market in volumes, compared to 37% for generics and 9% for OTC. For the latter, "no boom is expected", despite the market being unsaturated and the high economic growth, "because of the huge income gap" in the country, Cura noted. There are currently 22,500 pharmacies in Turkey, but only 10,000 of them are entitled to sell OTC products like vitamins, according to Frost & Sullivan's estimates. She added that the pharma market, dominated by Novartis, Abdi Ibrahim, Sanofi, Pfizer and Bilim Ilaç, is expected to be the most active healthcare segment in terms of M&A, along with private hospitals. She referred to the recent examples of the acquisition of Mustafa Nevzat by Amgen in April last year (APMHE 28913), or the joint venture created in November by Abdi Ibrahim and Otsuka. Despite those promising perspectives, "we believe that the price cuts [for pharmaceuticals and medical devices] will continue, because the healthcare budget of the government is challenged, with increased spending", Cura emphasised. "But on the other hand, we do not expect a huge price decline, since they have estimated to have reached their bottom level", she explained. Besides pharma, Frost & Sullivan expects the medical devices market to reach $2.45 billion in 2015 from $1.8 billion in 2011, with an average annual growth rate of 8.6%. The medical imaging sector should grow 5% annually to $280 million.

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04/02/13 12:10Turkish pharma market forecast to see double digit growth until 2015 - report - APM Health Europe

Page 1 sur 1http://apmhealtheurope.com/print_story.php?numero=32731

Wednesday, 16 January 2013 13:17 GMT

KEYWORDS : M&A MEDICAL DEVICES REIMBURSEMENT OTC R&D

Turkish pharma market forecast to see double digit growth until 2015 - report

ISTANBUL, Jan 16 (APM) - Turkey's pharmaceutical market is set to grow 10.4% annuallyuntil 2015, according to consultancy firm Frost & Sullivan.

In a web conference broadcast late on Tuesday, Hilal Cura, healthcare research analyst for thefirm, said the market, spurred by the health transformation programme launched by thegovernment in 2003, should grow from $9.1 billion in 2011 to $13.5 billion in 2015.

After 2012, biotechnology-based drugs, which accounted for only 11% of the market in 2011,are expected to grow by 15% a year and will exceed revenues from chemical drugs, shepointed out.

Cura added that diabetes, oncology and respiratory sectors would have the highest growth,whereas in the past, cardiovascular and antibiotics drugs were the most important in terms ofmarket share. Cancer drugs generated revenues of $637 million in 2011, with average annualgrowth of 15% since 2008.

Overall, patented drugs accounted for 54% of the market in volumes, compared to 37% forgenerics and 9% for OTC.

For the latter, "no boom is expected", despite the market being unsaturated and the higheconomic growth, "because of the huge income gap" in the country, Cura noted.

There are currently 22,500 pharmacies in Turkey, but only 10,000 of them are entitled to sellOTC products like vitamins, according to Frost & Sullivan's estimates.

She added that the pharma market, dominated by Novartis, Abdi Ibrahim, Sanofi, Pfizer andBilim Ilaç, is expected to be the most active healthcare segment in terms of M&A, along withprivate hospitals.

She referred to the recent examples of the acquisition of Mustafa Nevzat by Amgen in Aprillast year (APMHE 28913), or the joint venture created in November by Abdi Ibrahim andOtsuka.

Despite those promising perspectives, "we believe that the price cuts [for pharmaceuticals andmedical devices] will continue, because the healthcare budget of the government ischallenged, with increased spending", Cura emphasised.

"But on the other hand, we do not expect a huge price decline, since they have estimated tohave reached their bottom level", she explained.

Besides pharma, Frost & Sullivan expects the medical devices market to reach $2.45 billion in2015 from $1.8 billion in 2011, with an average annual growth rate of 8.6%. The medicalimaging sector should grow 5% annually to $280 million.