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Taiwan Pharmaceuticals and Healthcare Report Q4 2009


Description: The Taiwan Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Taiwan's pharmaceuticals and healthcare industry

The overall Taiwanese pharmaceutical and healthcare market will experience an unspectacular, yet steady, growth over the forecast period. Between 2009 and 2013, the report forecasts that the drug market will grow from a value of US$3.63bn to reach US$4.55bn, representing a compound annual growth rate (CAGR) of 4.9%. Value and volume growth will be driven by demographic changes, as well as improved regulatory and pricing conditions that will attract multinationals’ interest. Indeed, the analyst has recently upgraded Taiwan’s score for ‘Approvals process’ on our Pharmaceuticals & Healthcare Business Environment Ratings from seven to eight. This makes the country marginally more attractive to multinational drugmakers looking to launch innovative medicines. The ratings upgrade follows the formation of the Taiwan Food and Drug Administration (TFDA), which is expected to approve pharmaceuticals and medical devices more swiftly. Taiwan is now in 6th place in our Business Environment Rankings for the Asia Pacific Region.

However, market growth is also being constrained by the aggressive cost-containment measures implemented by the government. In July 2009, drug suppliers in Taiwan protested against Bureau of National Insurance (BNHI) plans to reduce the prices of price of domestically-manufactured drugs on the National Health Insurance (NHI) system by 28%. In addition, the BNHI is also looking to reduce the prices of imported drugs by 25% as it battles to reduce drug expenditure. However, representatives from the main pharmaceutical organisations claim the austerities will cost the industry TWD20bn (US$610mn) and will force them to withdraw 500 products from the NHI.

Despite this, it is not all bad news for the health sector. In April 2009, the Taiwanese government announced that it will invest TWD86.4bn (US$2.63bn) over the next four years in order to improve the country’s health service. According to Health Minister Yeh Ching-chuan, the ambitious investment plan will raise overall production value in the sector by TWD346.4bn (US$10.58bn) by 2012 and will also create 310,000 jobs. Healthcare is one of six emerging industries that the government is determined to support. Investment in this sector will take place in three areas – developing long-term medical services, investing in intelligent medicine and value-added industries and supporting the development of the biotechnology industry. Indeed, TWD24bn (US$732mn) has been earmarked to invest in biotech. Of this total TWD6bn (US$183mn) will be allocated for 2010.

Meanwhile, sales of vaccines should see a short-term uptick due to the impact of swine flu. In June 2009, it was announced that a newly established pharmaceuticals facility in Taiwan is to produce 7.5mn doses of a vaccine for swine flu. Domestic drugmaker Adimmune is currently undergoing work on the vaccine at its processing plant in Tanzih, in Central Taiwan. The company is expected to finish experiments on the virus strain in August, with clinical trials expected to commence in September ahead of a possible rollout of the completed vaccine a month later.


Contents: EXECUTIVE SUMMARY
Taiwan Pharmaceuticals And Healthcare Industry SWOT
Taiwan Political SWOT
Taiwan Economic SWOT
Taiwan Business Environment SWOT

PHARMACEUTICAL BUSINESS ENVIRONMENT RATINGS
Table: Regional Business Environment Ratings
Limits of Potential Returns
Risks to Realisation Of Returns

TAIWAN – MARKET SUMMARY

REGULATORY REGIME
Table: Examples Of Controlled Drugs In Taiwan
Table: Medicine Categories In Taiwan
Recent Regulatory Developments
Intellectual Property Regime
Intellectual Property Developments
Compulsory Licensing
Pricing Regime
Price Cuts
Reimbursement Regime
Taiwan: Medical Costs Claimed
Taiwan: Insurance Coverage
Table: Drug Reimbursement Principles
Recent Reimbursement Developments
Counterfeits
Free Trade Agreements

INDUSTRY TRENDS AND DEVELOPMENTS
Epidemiology
Recent Public Health Developments
Healthcare System
Healthcare Financing
Table: Medical Care Institution Contracting And Management Of Taiwan’s National Healthcare Insurance Fund (NHIF) For 2007
Table: Statistics of Taiwan’s National Healthcare Insurance Fund (NHIF) for 2007
Table: Premium Contribution For Taiwan’s Bureau Of National Health Insurance (% share)
Recent Healthcare System Developments
Domestic Pharmaceutical Sector
Foreign Company Activity
Traditional Chinese Medicine
Biotechnology Sector
Recent Biotechnology Developments
Medical Tourism
Vaccines
Recent Developments In The Vaccines Market
Medical Devices

INDUSTRY FORECAST SCENARIO
Overall Market Forecast
Table: Taiwan – Drug Expenditure Indicators, Historical Data And Forecasts
Key Growth Factors – Industry
Table: Taiwan – Health Expenditure Indicators, Historical Data And Forecasts
Key Growth Factors – Macroeconomic
Table: Taiwan - Economic Activity, 2006-2013
Prescription Drug Market Forecast
Table: Taiwan – Prescription Drug Market Indicators, Historical Data And Forecasts (US$mn unless otherwise stated)
Patented Product Market Forecast
Table: Taiwan – Patented Product Market Indicators, Historical Data And Forecasts
Generics Drug Market Forecast
Table: Taiwan – Generic Drug Market Indicators, Historical Data And Forecasts
OTC Medicine Market Forecast
Table: Taiwan – OTC Medicine Market Indicators, Historical Data And Forecasts (US$mn unless otherwise stated)
Pharmaceutical Trade Forecast
Table: Taiwan – Pharmaceutical Trade Indicators, Historical Data And Forecasts (US$mn)
Medical Device Market Forecast
Table: Taiwan – Medical Device Market Indicators, Historical Data And Forecasts (US$mn unless otherwise stated)
Other Healthcare Data Forecasts
Table: Taiwan – Other Healthcare Indicators, Historical Data And Forecasts
Key Risks To BMI’s Forecast Scenario

COMPETITIVE LANDSCAPE
Top Ten Pharmaceuticals In Taiwan According To BNHI Expenditure During 2008

COMPANY PROFILES
Multinationals
Pfizer
Sanofi-Aventis
GlaxoSmithKline
Novartis
Merck & Co
Bayer Schering Pharma
Indigenous Manufacturers
Yung Shin Pharmaceutical (YSP)
ScinoPharm Taiwan
Empax Pharma

COUNTRY SNAPSHOT: TAIWAN DEMOGRAPHIC DATA
Section 1: Population
Table: Demographic Indicators, 2000-2030
Section 2: Labour Market And Spending Power
Table: Employment Indicators, 2000-2005
Table: Consumer Expenditure, 2000-2005 (US$)
Table: Average Annual Manufacturing Wages, 2005-2012

BMI METHODOLOGY
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources


Companies Mentioned - Multinationals - Pfizer - Sanofi-Aventis - GlaxoSmithKline - Novartis - Merck & Co - Bayer Schering Pharma - Yung Shin Pharmaceutical (YSP) - ScinoPharm Taiwan - Empax Pharma


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