Turkey's Pharma Sector Boosts R&D Spending 8.3‑Fold in Five Years

Turkey's pharmaceutical industry has accelerated its global competitiveness with an 8.3‑fold increase in R&D spending over five years.

Surge in R&D Investments

According to the Competition Authority's preliminary report, sectoral research‑development outlays rose from TRY 676.2 million in 2020 to TRY 5.6 billion in 2024 – a %723 surge. This R&D intensity is directly linked to the launch of new molecules and patent‑protected reference drugs.

Market Dynamics and Domestic Production Edge

■In 2023, domestically manufactured drugs accounted for %59.6 of Turkey's sales value, while imports held %40.4.

■By volume, local production captured %90 of total packaging units, leaving imported products at %10.

■The sector aligns with the 12th Development Plan, aiming to expand domestic capacity and cut import reliance.

Turkey's Position in the Global Landscape

Globally, the top‑50 pharmaceutical firms represent %88 of the U.S. market and %49 of the Turkish market, underscoring Turkey's strategic role in the worldwide pharma chain. Global R&D spending is projected to rise %3 to $201.3 billion by 2025, with the United States leading at $130.1 billion.

Fatih Kılıç – Turkey's R&D‑driven pharma sector is expanding its domestic market share while deepening integration into the international value chain. This trajectory supports a sustainable growth model that aligns with the goal of reducing import dependence. Continued escalation in R&D outlays should exert upward pressure on stock prices and investor interest, prompting a reassessment of valuations for pharma companies listed on the BIST‑100.