Turkey Medical Device Market Analysis and Forecast 2019-2028
$2,380.00 – $4,800.00
Government support is leading to increased in-house medical device production in the country
Turkey medical device market is expected to witness a growth rate of around 7.8% during the forecast period of 2022-2028. With a population of over 82 million, a well-established public and private healthcare system in Turkey is accessible and equitable to every resident. Turkey is one of the prominent markets for medical devices in the Middle East & North Africa (MENA) region. According to the data published by the Turkey Government, around 80% of Turkey’s medical devices are imported, of which nearly 20% are imported from the US.
Strong macroeconomic growth, increasing disposable income, a rapidly growing population, government support through manufacturing and R&D incentives, and technological advancements in medical devices like smart medical devices are some of the key factors propelling the demand for medical devices in Turkey. In August 2021, Hungarian medical device manufacturer Medicor announced to invest US$ 2.4 million for incubator production in the Turkish capital Ankara. This investment is one of the pioneering steps for economic and trade cooperation between Turkey and Hungary.
Medical Device Regulations in Turkey
Turkey government is supporting the manufacturing sector of medical devices by improving infrastructure and launching localization programs. Further, increasing healthcare professionals in the country will lead to the development of the overall healthcare sector. Although, Turkey has taken steps further to align its legislation with the European Union (EU). Medical device manufacturers must comply with Turkey’s Medical Device Regulation (MDR) and the Medical Device Vitro Diagnostic Regulation to market their products in the country. These regulations aim to ensure the safety and protection of patients, high-quality medical devices in the market, and a transparent sustainable medical device market in Turkey. Moreover, these regulations require economic operators, manufacturers, authorized representatives, and Turkish importers to strengthen traceability and transparency in the medical device market. Before releasing medical equipment in the market, manufacturers must register it with EUDAMED. The responsibilities and requirements related to EUDAMED apply six months after the EU Commission publishes a notification in the EU Official Journal that EUDAMED is fully operational and meets the functional specifications.
The consumables segment gain significant traction
The consumables segment is anticipated to witness significant growth during the forecast period. According to the Turkey Government, the significant growth will lead the market to reach US$ 6.4 billion by 2026 making consumables the second most significantly growing segment. The growing use of suture products, increasing use of syringes, needles & catheters, the increasing outpatient visit rate, and the demand for ostomy and first-aid products are the factors supporting the increase in consumables in Turkey. Consumables are majorly imported from leading suppliers in Malaysia, China, and the US. Further, the growing public and private health providers, and the high prevalence of cardiovascular diseases and cancer are creating the demand for diagnostic imaging devices in the region.
Market Structure and Competitive Landscape
Turkey medical device market is fragmented in nature with the presence of around 6,000 companies in the market including medium and large scaled companies, manufacturers, exporters, and suppliers. Some of the prominent players that contribute significantly to the Turkey medical device market include, Medtronic plc, Stryker Corp., GE Healthcare, 3M Co., Dentac, Umg Uysal, Ayset Medical Urunler San. A.S., RD Global & Invamed, Oruba Medical Technology, TST Medical Devices, Hegeli Orthopedics Ltd., Tulpar Medical Solutions, and others.
These companies adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, product launches, and geographical expansion are some of the strategies followed by industry players. Some of the key developments in the Turkey medical device market include,
- In September 2021, Turkey-based international medical technology firm RD Global & Invamed has completed the buying of orthopedic implant manufacturer Prosim to expand its global operations. The company has expanded its scope by adding orthopedics to its expertise.
Key Market Segmentation
RationalStat has segmented the Turkey medical devices market on the basis of types and end use.
- By Type
- Patient aids
- Dental Products
- Orthopedics & Prosthetics
- Diagnostic Imaging
- Consumables
- Others (Blood Pressure Monitors, Endoscopy Apparatus, etc.)
- By End Use
- Hospitals
- Clinics
- Diagnostic Centers
- Research Laboratory
- Others (Pharmaceutical Companies etc.)
- By Region
- North Turkey
- West and Central Turkey
- East Turkey
- South Turkey
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for medical device manufacturers and suppliers, third party distributors, government organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The Turkey medical devices market is expected to grow at a CAGR of around 7.8% during the forecast period 2022-2028.
The Turkey medical devices market is estimated at around US$ 2.65 billion in 2021.
Government support through manufacturing and R&D is the key driver of the Turkey medical devices market.
Major companies operating in the Turkey medical devices market include Medtronic plc, Dentac, Umg Uysal, Ayset Medical Urunler San. A.S., RD Global & Invamed, Oruba Medical Technology, TST Medical Devices, Hegeli Orthopedics Ltd., Tulpar Medical Solutions and others.
The Turkey medical devices market is expected to grow at a CAGR of around 7.8% during the forecast period 2022-2028.
| REGION | Turkey |
|---|---|
| RELEASE YEAR | 2022 |
| RESEARCH CODE | RST-SAR-071 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Turkey Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1. Medical Device Market Manufacturers
6.3.2. Medical Device Market Suppliers
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. Turkey Medical Device: Foreign Trade
8.1. Trade Outlook & EXIM Analysis
8.2. Major Export Destinations
8.3. Major Import Partners
9. Turkey Medical Device Infrastructure
9.1. Incentives
9.2. R&D Ecosystem
9.3. Healthtech Ecosystem
10. Turkey Medical Device Market: Patent Analysis
Robust assessment of several patent publications in Medical Technologies in Turkey over the period of 2000-2019
11. Turkey Medical Device Market: Investment Analysis
Robust assessment of key investment zones in Turkey available for investors in MedTech sector
12. Parent Market Overview
12.1.Turkey Healthcare Market
12.2.Turkey Medical Tourism Market
13. Segmental Analysis
13.1.Turkey Medical Device Market by Type
13.1.1. Segment Overview
13.1.1.2. Dental Products
13.1.1.3. Orthopedics & Prosthetics
13.1.1.4. Diagnostic Imaging
13.1.1.5. Consumables
13.1.1.6. Others (Blood Pressure Monitors, Endoscopy Apparatus, etc.)
13.2.Turkey Medical Device Market by End Use
13.2.1. Segment Overview
13.2.1.2. Clinics
13.2.1.3. Diagnostic Centers
13.2.1.4. Research Laboratory
13.2.1.5. Others (Pharmaceutical Companies etc.)
13.3.Turkey Medical Device Market by Region
13.3.1. North Turkey
13.3.2. South Turkey
13.3.3. West and Central Turkey
13.3.4. East Turkey
14. Regional Analysis
14.1.North Turkey Medical Device Market Analysis and Forecast 2019-2028
14.1.1. Regional Market Overview and Key Takeaways
14.1.2. North Turkey Medical Device Market by Type
14.1.3. North Turkey Medical Device Market by End Use
14.2.South Turkey Medical Device Market Analysis and Forecast 2019-2028
14.2.1. Regional Market Overview and Key Takeaways
14.2.2. South Turkey Medical Device Market by Type
14.2.3. South Turkey Medical Device Market by End Use
14.3.West and Central Turkey Medical Device Market Analysis and Forecast 2019-2028
14.3.1. Regional Market Overview and Key Takeaways
14.3.2. West and Central Turkey Medical Device Market by Type
14.3.3. West and Central Turkey Medical Device Market by End Use
14.4.East Turkey Medical Device Market Analysis and Forecast 2019-2028
14.4.1. Regional Market Overview and Key Takeaways
14.4.2. East Turkey Medical Device Market by Type
14.4.3. East Turkey Medical Device Market by End Use
15. Competitive Landscape
15.1.Competition Dashboard
15.1.1. Turkey and Regional Market Share Analysis
15.1.2. Market Structure
15.2.Competitive Benchmarking
15.3.Key Strategy Analysis
15.4.Manufacturers Cluster Analysis
15.5.Company Profiles
15.5.1. Medtronic plc
15.5.1.1. Company Overview
15.5.1.2. Product/Service Offerings
15.5.1.3. Key Financials
15.5.1.4. Recent Developments
15.5.2. Stryker Corp.
15.5.2.1. Company Overview
15.5.2.2. Product/Service Offerings
15.5.2.3. Key Financials
15.5.2.4. Recent Developments
15.5.3. GE Healthcare
15.5.3.1. Company Overview
15.5.3.2. Product/Service Offerings
15.5.3.3. Key Financials
15.5.3.4. Recent Developments
15.5.4. 3M Co.
15.5.4.1. Company Overview
15.5.4.2. Product/Service Offerings
15.5.4.3. Key Financials
15.5.4.4. Recent Developments
15.5.5. Hitachi Healthcare
15.5.5.1. Company Overview
15.5.5.2. Product/Service Offerings
15.5.5.3. Key Financials
15.5.5.4. Recent Developments
15.5.6. Alvimedica
15.5.6.1. Company Overview
15.5.6.2. Product/Service Offerings
15.5.6.3. Key Financials
15.5.6.4. Recent Developments
15.5.7. Getinge Group
15.5.7.1. Company Overview
15.5.7.2. Product/Service Offerings
15.5.7.3. Key Financials
15.5.7.4. Recent Developments
15.5.8. Bıçakçılar
15.5.8.1. Company Overview
15.5.8.2. Product/Service Offerings
15.5.8.3. Key Financials
15.5.8.4. Recent Developments
15.5.9. Dentac
15.5.9.1. Company Overview
15.5.9.2. Product/Service Offerings
15.5.9.3. Key Financials
15.5.9.4. Recent Developments
15.5.10. Umg Uysal
15.5.10.1. Company Overview
15.5.10.2. Product/Service Offerings
15.5.10.3. Financials
15.5.10.4. Recent Developments
15.5.11. Ayset Medical Urunler San. A.S.
15.5.11.1. Company Overview
15.5.11.2. Product/Service Offerings
15.5.11.3. Financials
15.5.11.4. Recent Developments
15.5.12. Oruba Medical Technology
15.5.12.1. Company Overview
15.5.12.2. Product/Service Offerings
15.5.12.3. Financials
15.5.12.4. Recent Developments
15.5.13. TST Medical Devices
15.5.13.1. Company Overview
15.5.13.2. Product/Service Offerings
15.5.13.3. Financials
15.5.13.4. Recent Developments
15.5.14. Hegeli Orthopedics Ltd
15.5.14.1. Company Overview
15.5.14.2. Product/Service Offerings
15.5.14.3. Financials
15.5.14.4. Recent Developments
15.5.15. Dehas Medical Co
15.5.15.1. Company Overview
15.5.15.2. Product/Service Offerings
15.5.15.3. Financials
15.5.15.4. Recent Developments
15.5.16. Altan Industrial and Laboratory Appliances Trd
15.5.16.1. Company Overview
15.5.16.2. Product/Service Offerings
15.5.16.3. Financials
15.5.16.4. Recent Developments
15.5.17. TULPAR Medical Solutions
15.5.17.1. Company Overview
15.5.17.2. Product/Service Offerings
15.5.17.3. Financials
15.5.17.4. Recent Developments
15.5.18. Ortpar Orthopedic Parts Industry Co. Ltd
15.5.18.1. Company Overview
15.5.18.2. Product/Service Offerings
15.5.18.3. Financials
15.5.18.4. Recent Developments
15.5.19. Imicryl Dental
15.5.19.1. Company Overview
15.5.19.2. Product/Service Offerings
15.5.19.3. Financials
15.5.19.4. Recent Developments
15.5.20. Dünya Dental
15.5.20.1. Company Overview
15.5.20.2. Product/Service Offerings
15.5.20.3. Financials
15.5.20.4. Recent Developments
15.5.21. Promida Dental
15.5.21.1. Company Overview
15.5.21.2. Product/Service Offerings
15.5.21.3. Financials
15.5.21.4. Recent Developments
15.5.22. XERA
15.5.22.1. Company Overview
15.5.22.2. Product/Service Offerings
15.5.22.3. Financials
15.5.22.4. Recent Developments
15.5.23. MetaMed
15.5.23.1. Company Overview
15.5.23.2. Product/Service Offerings
15.5.23.3. Financials
15.5.23.4. Recent Developments
15.5.24. RD Global & Invamed
15.5.24.1. Company Overview
15.5.24.2. Product/Service Offerings
15.5.24.3. Financials
15.5.24.4. Recent Developments
16. Disclaimer
List of Figures/Tables
List of Figures
Figure 01: Turkey Medical Devices Market Volume (‘000 units), 2019-2021
Figure 02: Turkey Medical Devices Market Volume (‘000 units) & Y-o-Y Growth (%) Analysis, 2022–2028
Figure 03: Medical Devices, Pricing Analysis per unit (US$), in 2022
Figure 04: Medical Devices, Pricing Forecast per unit (US$), in 2028
Figure 05: Turkey Medical Devices Market Value Analysis (US$ Mn), 2019-2021
Figure 06: Turkey Medical Devices Market Size (US$ Mn) & Y-o-Y Growth (%) Analysis, 2022–2028
Figure 07: Turkey Medical Devices Market Size and Market Share Analysis (%) by Type, 2022 & 2028
Figure 08: Turkey Medical Devices Market Y-o-Y Analysis (%) by Type, 2022-2028
Figure 09: Turkey Medical Devices Market Size and Market Share Analysis (%) by End Use, 2022 & 2028
Figure 10: Turkey Medical Devices Market Y-o-Y Analysis (%) by End Use, 2022-2028
Figure 11: Turkey Medical Devices Market Size and Market Share Analysis (%) by Region, 2022 & 2028
Figure 12: Turkey Medical Devices Market Y-o-Y Growth (%) by Region, 2022–2028
Figure 13: North Turkey Medical Devices Market Size and Market Share Analysis (%) by Type, 2022 & 2028
Figure 14: North Turkey Medical Devices Market Size and Market Share Analysis (%) by End Use, 2022 & 2028
Figure 16: South Turkey Medical Devices Market Size and Market Share Analysis (%) by Type, 2022 & 2028
Figure 17: South Turkey Medical Devices Market Size and Market Share Analysis (%) by End Use, 2022 & 2028
Figure 19: West and Central Turkey Medical Devices Market Size and Market Share Analysis (%) by Type, 2022 & 2028
Figure 20: West and Central Turkey Medical Devices Market Size and Market Share Analysis (%) by End Use, 2022 & 2028
Figure 22: East Turkey Medical Devices Market Size and Market Share Analysis (%) by Type, 2022 & 2028
Figure 23: East Turkey Medical Devices Market Size and Market Share Analysis (%) by End Use, 2022 & 2028
List of Tables
Table 1: Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type
Table 2: Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by Type
Table 3: Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End Use
Table 4: Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by End Use
Table 5: Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Region
Table 6: Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by Region
Table 7: North Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type
Table 8: North Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by Type
Table 9: North Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End Use
Table 10: North Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by End Use
Table 13: South Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type
Table 14: South Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by Type
Table 15: South Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End Use
Table 16: South Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by End Use
Table 19: West and Central Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type
Table 20: West and Central Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by Type
Table 21: West and Central Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End Use
Table 22: West and Central Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by End Use
Table 23: West and Central Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by City
Table 24: West and Central Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by City
Table 25: East Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Type
Table 26: East Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by Type
Table 27: East Turkey Medical Devices Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End Use
Table 28: East Turkey Medical Devices Market Volume (‘000 units) Analysis and Forecast 2019-2028, by End Use
Every Sample Includes
Research Methodology
Complete Table of Contents, List of Charts and Tables
Exclusive Facts & Illustrations
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