Turkey Identified as one of Hottest Global Healthcare Markets
Published By : 21 May 2015 | Published By : QYRESEARCH
Fueled by private investments and reforms, the healthcare market in Turkey is rapidly emerging as one of the hottest markets around the world. The healthcare expenditure in the country has doubled over the past 10 years. This figure has reached US$62.3 billion thanks to the huge population base of 74.7 million and an ever increasing patient base.
At the Breakfast Briefing by Frost & Sullivan on the topic: Growth in Emerging Regions, Turkey was a major area of interest at the event held last week in Milan, Italy. The briefing highlighted some of the key investment opportunities in Turkey across all industries. The briefing also focused on CIS countries and Africa.
Director of Frost & Sullivan’s South Europe and Turkey wing Philipp Reuter, presented the conference in Milan. He says, “Along with its economic growth, Turkey has witnessed a remarkable transformation in terms of social and economic factors over the last 10 years.” Philipp further states, “During the decade of 2005 and 2015 the number of patients suffering from different chronic diseases doubled in the nation to reach 1 million cancer patients and 9 million people suffering from diabetes. There is a trend of growing geriatric population in the country which will eventually result into a larger patient pool after 2020.”
The current Turkish government has made healthcare its prime focus. This government was brought into power in 2002 and immediately after joining office, the cabinet launched Turkey’s healthcare transformation program. This national program focused mainly on a health insurance scheme. One the one hand, the healthcare budget of the country doubled over the course of the reform period. On the second hand, the public insurance coverage has risen from 50 per cent in 2003 to 100 per cent in 2015.