Turkey's Pharmaceutical Raw Material Market
Turkey is a major market for active pharmaceutical ingredients (APIs), which are the raw materials used in the production of prescription and over-the-counter medications. The country has a well-developed pharmaceutical industry, with a number of large domestic manufacturers and several foreign companies with operations in Turkey.
Turkey imports a significant amount of APIs from countries such as India, China, and it also has a growing domestic production sector. The country has a favorable business environment for the pharmaceutical industry, with relatively low labor and production costs, as well as a well-educated and skilled workforce.
Turkey is also a key market for the export of APIs, with a significant proportion of the country's production being exported to other countries in the region, as well as to Europe and the United States. The Turkish pharmaceutical industry is regulated by the Ministry of Health and the Ministry of Trade, which oversee the approval and licensing of medications and APIs.
Overall, the Turkish market for APIs is an important part of the global pharmaceutical industry, and it is expected to continue to grow in the coming years.