Sector: Biotechnology and Pharmaceuticals
The Biotechnology & Pharmaceuticals subsector consists of the Biotechnology & Pharmaceuticals industry.
- The Biotechnology & Pharmaceuticals industry develops, manufactures, and markets a range of brand-name and generic medications. A significant portion of the industry is driven by research and development, a high risk of product failure during clinical trials, and the need to obtain regulatory approval. Concerns over pricing practices and consolidation within the sector have created downward pricing pressures. Demand for the industry’s products is largely driving by population demographics, rates of insurance coverage, disease profiles, and economic conditions.
Investments in biotechnology medicine production will increase the value added from medicine and make essential pharmaceuticals more readily accessible for Turkish patients.
More than 25%
More than USD 1 billion