|
|
 |
|
Viewing report
|
|
|
|
Taiwan Pharmaceuticals and Healthcare Report Q4 2009
Business Monitor International, Sep 2009, Pages: 99
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.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Taiwan Pharmaceuticals and Healthcare Report Q4 2010
Veterinary Vaccines - Global Strategic Business Report
Taiwan Pharmaceuticals and Healthcare Report Q2 2008
Taiwan Pharmaceuticals and Healthcare Report Q3 2008
Taiwan Pharmaceuticals and Healthcare Report Q1 2009
Pakistan Pharmaceuticals and Healthcare Report Q1 2012
Argentina Pharmaceuticals and Healthcare Report Q4 2011
Disposable Medical Gloves - Global Strategic Business Report
Qatar Pharmaceuticals and Healthcare Report Q3 2011
E7: The Outlook for Pharmaceuticals to 2012
|
|
|
|
