Government programs play huge role in growth of Turkey's health care market; F&S report

Government funding, growth and consolidation of the middle class, and the rise in non-communicable diseases will enable Turkey to remain one of the sought-after countries for health care investment. Turkey offers immense potential for companies across the health care spectrum, from health care technology device suppliers to pharmaceutical and clinical diagnostic firms, according to market research firm Frost & Sullivan.

A new analysis from Frost & Sullivan, titled Healthcare Landscape and Outlook in Turkey, finds that the market earned revenues of more than $23.29 billion in 2012 and estimates this to reach $29.62 billion in 2015. The stability of the political environment and focus on hospital modernization, funding and private sector expansion have aided the growth of the healthcare market in Turkey.

“The government has encouraged market development through public-private partnerships, establishing health facilities, research and development units, technology centers, and institutes of medical sciences in 29 cities,” says Frost & Sullivan health care research analyst Hilal Cura, adding: “Moreover, the government aims to standardize licensing criteria and accreditation systems by 2014 to improve health care accessibility and quality.”