The pharmaceutical industry exports in Türkiye showed a significant upward trend over the past decade. In 2023, the export value stood at $2.14 billion, reflecting a steady annual growth. Year-on-year variations over the last two years indicate moderate increases of 6.57% in 2022 and 6.09% in 2023. The compound annual growth rate (CAGR) over the last five years was 10.33%, showcasing robust growth.
Future trends to watch for include:
- Continued growth with a forecasted 5-year CAGR of 3.88%, projecting the export value to reach $2.74 billion by 2028.
- Potential impacts of global economic conditions and regulatory changes on export dynamics.
