Taiwan Pharmaceuticals and Healthcare Report Q2 2008

Publication Date	April 2008
Publisher	Business Monitor
Product Type	Report
Pages	89
ISBN Number	not applicable
Product Code	BMI01679

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Summary

Taiwan represents a pharmaceutical market of moderate interest to multinational pharmaceutical firms operating in the Asia Pacific region. The draws of the US$4.32bn market include a traditional preference for branded medicines, a strong research environment - especially in the field of biotechnology - and a highly urbanised population. However, several recent price cuts and a less than clear operating environment provide a degree of concern. Consequently, Taiwan retains seventh position in BMI's Pharmaceutical Business Environment Ranking table for Q208 out of the 14 regional markets surveyed.

While BMI is expecting reasonable market growth, to around US$5.29bn by 2012, considerable challenges will be presented by the new regulatory requirements. In November 2007, Taiwan introduced a health technology assessment (HTA) system for pricing and reimbursement of new drugs. Specifically, prior to evidence evaluation, the proposed price of a new pharmaceutical will be benchmarked using existing prices in 10 other markets. HTA tools will then be employed to mark up or mark down that price, depending on efficacy. While the programme aims to improve patient outcomes - as well as make muchneeded savings in the public sector - similar systems in other countries have at times been accused of having the opposite effect.

In the meantime, Taiwan is working on adoption of internationally recognised standards modelled on the Pharmaceutical Inspection Co-operation Scheme (PIC/S). The programme will improve the quality of medicines produced locally, and consequently their export potential. Full compliance is expected by the end of 2009 at the latest, with membership of PIC/S - albeit not full, due to political pressure from China - being a clear indication of the maturity of a country's pharmaceutical industry.

Taiwan's US$1.86bn medical device sector, which is poised to expand steadily over the next five years, continues to be dynamic. In February 2008, US medical device manufacturer Ingen Technologies signed a distribution agreement with Hong Kong-based Progressive International Holding (PIHK), which covers Taiwan. The agreement concerns the distribution of Ingen's proprietary product OxyView, a device used to increase accuracy of medical care and prevent unnecessary medical costs. Shortly before the announcement, US-based Merck & Co indicated that it is to base its new Asia Technology Training Center in Taiwan.

Content

Executive Summary
Taiwan Pharmaceuticals And Healthcare Industry SWOT
Taiwan Political SWOT
Taiwan Economic SWOT
Taiwan Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Pharmaceutical Business Environment Ratings
Limits Of Potential Returns
Risks To Realisation Of Returns
Taiwan - Market Summary
Regulatory Regime
- Table: Examples Of Controlled Drugs In Taiwan
Medicine Categories In Taiwan
Recent Regulatory Developments
Intellectual Property Regime
- Table: USTR Special 301 Report
Intellectual Property Developments
Compulsory Licensing
Pricing Regime
Price Cuts
Reimbursement Regime
- Table: Drug Reimbursement Principles
Recent Reimbursement Developments
Free Trade Agreements
Industry Trends And Developments
Epidemiology
Healthcare System
- Table: Premium Contribution For Taiwan's Bureau Of National Health Insurance (% share)
Domestic Pharmaceutical Sector
- Table: Selected Local Industry Players
Foreign Company Activity
Medical Devices
- Table: Taiwan Medical Device Market Forecast (US$bn unless otherwise stated)
Recent Developments In The Medical Devices Market
Biotechnology Sector
Recent Biotechnology Developments
Vaccines
Recent Developments In The Vaccines Market
Traditional Chinese Medicine
Industry Forecast Sce41
Overall Market Forecast
- Table: Drug Expenditure And Prescription Market Indicators (US$mn unless otherwise stated)
Key Growth Factors - Industry
- Table: Taiwan's Health Expenditure Forecast Indicators
Key Growth Factors - Macroeconomic
- Table: Taiwan - Economic Activity
Patented Market Forecast
- Table: Taiwan's Patented Drug Market Indicators
Generics Market Forecasts
- Table: Taiwan's Generics Market Indicators
OTC Market Forecast
- Table: Taiwan's OTC Market Forecast Indicators (US$mn unless otherwise stated)
Export/Import Forecasts
- Table: Taiwan's Trade Indicators (US$mn)
Other Healthcare Data Forecasts
- Table: Other Healthcare Data Trends
Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Table: Taiwan's Pharmaceutical Market In Q406
Company Profiles
Multinationals
Pfizer
Sanofi-Aventis
GlaxoSmithKline
Novartis
Merck & Co
Bayer Schering Pharma
Indigenous Manufacturers
Yung Shin Pharmaceutical (YSP)
ScinoPharm Taiwan
Synmosa Biopharma
Life Star Pharmaceutical
EMO Biomedicine Corporation
Empax Pharma
Purzer Pharmaceutical
Taiwan Biotech Co
BMI Forecast Modelling
How We Generate Our Industry Forecasts
Pharmaceutical Industry
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
Weighting
- Table: Weighting Of Components
Sources