Turkey Pharmacy Benefit Management Market Outlook

the pharma industry in turkey’s has been growing rapidly in the recent years as a consequence of the nation’s rapidly increasing and aging population. in spite of the economic uncertaininty, the steady rise of pharma markets in turkey is largely driven by the improving public health and health care solutions which raised the insurance penetration rate. the demand for specialized pharmaceuticals and treatments has grown along with turkey’s expanding medical tourism industry. according to a report by kpmg, pharmaceutical expenditure in turkey is expected to grow at a 4.6 percent average of total healthcare expenditure in the period 2018 – 2032. this growth has led to an increasing demand for an effective and transparent pharmacy benefit management (pbm) system in turkey. pbm is a system for managing and administering pharmaceutical drug formulary systems with the aim of controlling drug costs and optimizing medication safety and effectiveness. it is an automated tool that processes prescription claims to ensure that those eligible receive their medications. pbm plays an important role in reducing health care costs and improving safety in dispensing of medications. over the past few years, the increasing need of medical solutions has created several challenges for pharmacy benefit management. as the demand for better and more comprehensive benefit programs is on the rise, institutions such as hospitals, insurance companies and retail chains are looking for ways to reduce costs. in response to this, companies in the turkish market are launching new and innovative ways to leverage technology for improved pharmacy benefit management and more cost-effective drug distribution. moreover, the emergence of digitization is allowing the employment of various analytics tools to ensure cost-effectiveness and accuracy of the drug distribution process. by leveraging digital platforms, pbm companies in the turkish market are developing and implementing tools like electronic prescription procession, summarising clinical knowledge systems, drug utilization analysis and analytics solutions. these solutions and services are helping government and private organisations in making evidence-based decisions regarding the drug formularies, improving patient safety and maximising pharmacy benefit management efficiency in the market. such solutions are expected to be in high demand in the turkish market in the coming years due to the increasing government support towards digital health and the need for cost effective and efficient drug distribution systems.