Turkey Cancer Immunotherapy Market Analysis

Turkey Cancer Immunotherapy Market Executive Analysis

Turkey's cancer immunotherapy market is expected to witness growth from $900 Mn in 2022 to $1,617 Mn in 2030 with a CAGR of 7.6% for the forecasted year 2022-30. In the 2023 budget, the Turkish government boosted the funds they had set aside for preventative health services by eight times, bringing the total to $4 Bn. The number of intensive care beds in hospitals has expanded by a factor of 28 and now exceeds 24,000. According to the report, In the last 20 years, 3000 992 health facilities—738 of which are hospitals—have been finished and put into service. These facilities include 979 primary health care institutions and 345 hospitals, with a combined bed capacity of 60 thousand. In the upcoming year, investments are planned for 177 facilities, 45 of which are hospitals. To advance global health and achieve its objectives of being one of the top nations in terms of health, Turkey will open to the globe under the "Health Türkiye" brand.

Immunotherapy is one sort of cancer treatment. It uses chemicals produced by the body or in a lab to boost the immune system and help the body find and get rid of cancer cells. Immunotherapy can be used to treat a variety of malignancies. It can be used either alone or in combination with other cancer treatments including chemotherapy. Numerous medical problems are treated with immunotherapy in Turkey, however, it is mainly recommended for patients with advanced cancer. Oncology immunotherapy seeks to control the illness. Additional cancer forms, such as lymphoma, liver cancer, stomach cancer, cervical cancer, and breast cancer, may also be treated with immunotherapy.

Antibodies are created by the immune system when it detects a threat. In order to fight infection, proteins called antibodies bind to antigens. Antigens are chemicals that cause your body to have an immune reaction. Monoclonal antibodies are produced in a lab to augment or swap out the body's natural antibodies. Monoclonal antibodies, or mAbs for short, come in a variety of forms, including naked, conjugated, and bispecific monoclonal antibodies. Some monoclonal antibodies enhance your immune system by blocking or preventing immunological checkpoints. Immunological checkpoints are used by the body to automatically stop immune reactions and prevent the immune system from attacking healthy cells. Cancer cells have the ability to trigger these checkpoints to aid in immune system evasion.

Market Dynamics

Market Growth Drivers

Turkey's cancer burden is rising as a result of several causes, including an ageing population, changing lifestyles, and environmental variables. As a result, cancer treatments, including immunotherapy, are in higher demand. Turkey has made significant investments in medical facilities and services, particularly cancer treatment. The availability and accessibility of cancer therapies, including immunotherapy, have increased as a result. The Turkish government has put in place several initiatives to encourage the growth of the healthcare industry and provide access to cutting-edge therapies like immunotherapy. New cures and treatments are being produced as a result of continuous research and development in the field of cancer immunotherapy. New immunotherapy drugs have now been introduced in Turkey as a result, significantly fuelling Turkey's cancer immunotherapy market expansion.

Market Restraints

Cancer immunotherapy procedures can be costly, which might make them inaccessible to individuals with little financial means. This might impede market expansion, particularly in a nation like Turkey where healthcare spending is minimal in comparison to that of other wealthy nations. Cancer immunotherapy therapies may not be as widely available to patients as they may be due to a lack of reimbursement regulations. Patients would be reluctant to seek out these treatments if they are not covered by their insurance, which could hinder market growth.  Both patients and medical experts still don't fully understand the benefits of cancer immunotherapy treatments. This can restrict the use of these medicines and hinder the expansion of the Turkey cancer immunotherapy market.

Competitive Landscape

Key Players

• Santa Farma Ilac (TUR)
• Abdi İbrahim (TUR)
• İlko İlaç (TUR)
• Abay Pharma (TUR)
• Azelis (TUR)
• Novartis
• Celgene
• Amgen
• Merck
• Janssen
• Seattle Genetics
• Printegra

Healthcare Policies and Regulatory Landscape

The Social Security Institution (SGK), private health insurance, and Universal Health Insurance (Genel Salk Sigortas, GSS) are the three main types of health insurance in Turkey. The Health Implementation Communiqué (Salk Uygulama Teblii), which lists the surgeries, treatments, and medications that are covered by the public health insurance system, states that cancer treatment is provided for people who are covered by the SGK. Cancer patients are eligible for free cancer treatments under this scheme, including chemotherapy, radiation therapy, and surgery. Newer treatments, however, might not be covered, forcing patients to pay out of cash or look for private insurance coverage. People who are ineligible for SGK coverage can access the public health insurance system known as Universal Health Insurance (GSS). Cancer treatment is also covered under the GSS, but the policies for coverage and payment may be different from those under the SGK.