Turkey one of the most promising CEE pharmaceutical markets, but has short-term challenges, says BMI
Turkey remains one of the most promising pharmaceutical markets in Central and Eastern Europe (CEE) in the long term. However, there are numerous short-term challenges for drugmakers operating in the country, says Business Monitor International.
BMI forecasts the country's pharmaceutical market will reach 25.39 billion Turkish lira ($21.34 billion) by 2014, up from 16.8 billion lira in 2009. Turkey is the second largest pharmaceutical market in the CEE, behind Russia.
BMI's outlook for pharmaceutical companies operating in Turkey has improved over the last quarter, and is now third in the CEE, despite the regional average declining. This has been shown by their updated Pharmaceuticals and Healthcare Business Environment Rating (BERs) matrix.
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