From 2013 to 2023, the value added of medical and dental instruments and supplies in Turkey saw a general upward trend, rising from 2.15 billion New Turkish Liras to 7.26 billion New Turkish Liras. The initial years witnessed robust growth due to increased investments and healthcare advancements, with year-on-year growth peaking at 35.61% in 2018. However, in 2020, the market experienced a slight contraction of -1.72%, likely due to the impacts of the global pandemic. The following years saw moderate recovery, with growth rates stabilizing around 5-6%. The Compound Annual Growth Rate (CAGR) for the past five years stood at 8.56%.
Looking forward, the forecasted data from 2024 to 2028 indicate a continued but moderate growth pattern, with a forecasted 5-year CAGR of 3.52%. The market is expected to reach 9.09 billion New Turkish Liras by 2028, representing an 18.91% growth over this period.
Future trends to watch for include technological advancements in medical devices, increased demand for home healthcare solutions, and the impact of healthcare policy reforms. Additionally, monitoring economic stability and foreign exchange rates will be crucial, as they can significantly affect market dynamics and investment attractiveness.
