Turkey’s healthcare expenditure surpassed 606.8 billion Turkish lira in 2022. From 2000 to 2022, healthcare spending exhibited remarkable growth, notably accelerating in the last four years, with health expenditure more than tripling since 2019.

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Market Trend: In 2003, the Republic of Turkey implemented a decade-long health system reform aimed at ensuring universal health coverage. The effectiveness of this reform is evident in the rise of individuals covered by public health insurance, soaring from 70 percent in 2002 to nearly 90 percent by 2021. Concurrently, the percentage of the Turkish populace possessing private health insurance has also shown a rise during this period.

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Turkey’s medical equipment market revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.16%, resulting in a market volume of US$6.42bn by 2028.

 

The Turkish Medicines and Medical Devices Agency serves as the foremost regulatory body under the Government of Turkey, holding the highest authority in ensuring medical safety concerning medicines, healthcare items, cosmetics, and personal care products.