market-entry-home-health-diabetes-care-devices-market-in-turkey
Published

DEC 2017

Market Entry - Home Health Diabetes Care Devices Market in Turkey: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

The diabetes care devices market is driven by increasing prevalence of diabetes, technological advancements, rise in obese population and rising need for faster and safer diagnosis; leading to huge investments by market leaders and new companies foraying into this market. North America held the largest share in the global diabetes care products market, followed by Europe and Asia-Pacific. The Asia-Pacific region provides significant opportunities, with China and India being the most populous countries and home to 40-45% of the global diabetic population. Thereby, contributing to the demand for diabetes care devices like blood glucose monitoring devices and insulin delivery devices. As a result, many players in the market are focusing on strengthening their position in this region. Roche, Johnson & Johnson, Bayer AG, and Abbott Laboratories are few key players in the market.

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.

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