Market Entry- Cosmetic Implants Market in Turkey: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

As per the findings of the international society of plastic and aesthetic surgeons (ISAPS), in 2013, more than 23 million individuals underwent surgical and non-surgical cosmetic procedures worldwide. The rising number of cosmetic surgeries conducted around the world is the key factor boosting the global cosmetic implants market. The high cost of surgical devices and procedures and no guarantee of safety impede the growth of the market. Implant devices comprise approximately 60% of the surgical cost depending upon the type, size, and the manufacturer. At present, these devices do not cater to low-income groups. Implant devices such as buttock, dental, penile, breast, and facial implants (especially cheek and jaw) come with a risk of malfunction. To put this in perspective, during the post-approval safety studies performed by the U.S. FDA in 2009, Allergan Inc. reviewed 2,674 breast implant devices, out of which, approximately 900 (33.8%) were reported to have openings in the implant shell. Implant rupture is considered as one of the restraining factors to the growth of the breast implant market. Periodic up gradation of implant devices used in surgeries can lower the chances of malfunction, thus propelling the growth of the cosmetic implant market globally. Technological advancements shall open new avenues for the market, which shall cut down the cost of implant devices. Institut Straumann AG, Nobel Biocare Holding Inc., and Dentsply International Inc. cumulatively represented more than 49% of the market in 2013. Trends in the market are also influenced by other players such as Aesthetic and Reconstructive Technologies (AART) Inc., 3M Health Care, Allergan Inc., Implantech Associates Inc., GC Aesthetics, Mentor Worldwide LLC, Spectrum Designs Medical, Sientra Inc., and Zimmer Holdings Inc.

About the Geography 

Turkey is a large country located in western Asia with a population of 74.93 million. It has a parliamentary democracy in place. It is the largest recipient of FDI and has adopted various legislative reforms to bring more foreign investment.

Turkey’s movement towards the EU has made it adopt the regulations and standards of European businesses. The country has great access to nearby markets of the Middle East, Africa, and Eastern Europe.

Low labor costs, growing middle class, large English-speaking population, and the government’s policies like ISPAT and Turkish Commercial Code, have brought huge investments to Turkey. Promoting investments in technology, services, textiles, telecommunications, and shipbuilding, has brought in many foreign companies to invest in Turkey. The proximity to the Middle Eastern conflict, inflation, weak currency, and strong dependence on hydrocarbon imports has slowed down the economy.

 

Component Name

 Unit

GDP (USD billion)

718

GDP Annual Growth Rate

3.1

GDP Per Capita

11525

Unemployment Rate

10.2

Wages

489.57

Inflation Rate

7.28

Consumer Price Index (CPI)

282

Interest Rate

7.5

Loans to Private Sector (USD billion)

262.72

Balance of Trade (USD billion)

-4.687

Business Confidence

106

Manufacturing PMI (Index Points)

48.3 Index Points

Ease of Doing Business

55

Competitiveness Rank

55

Corruption Rank

66

Consumer Confidence

74.3

Consumer Spending (USD billion)

7.157

Bank Lending Rate (Consumers)

8.25

Corporate Tax Rate

20

Sales Tax Rate

18

           

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Cosmetic Implants Market (USD millions)

                4.1 By Sources

                4.2 By Products

                4.3 By End Users

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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