The prices of pharmaceutical products in Turkey are determined through a reference pricing system in euro and converted to Turkish lira. The Price Evaluation Commission (PEC) is responsible for determining the periodic euro value used in this regard. Several important cases regarding PEC decisions have recently been finalised. The PEC was found to have violated its obligations under the law, thus allowing the parties that had suffered from the decisions to demand compensation.
The government aims to make Turkey one of the world's top 10 economies in the field of health services by 2023. As a result, Turkey's pharma industry is expected to reach $23 billion turnover by 2023 and imported products will continue to account for approximately half of the market share. The import of pharmaceuticals is expected to maintain its significant market share in the coming years.