CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Taiwan

Published: August 2017
No. of Pages: 191
    ReportsandReports

CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Taiwan

Summary

In 2016, the pharmaceutical market of Taiwan was valued at an estimated US$2.42 Billion, and is projected to reach US$2.44 Billion in 2021. The pharmaceutical market grew at a Compound Annual Growth Rate (CAGR) of 0.12% from 2009 to 2016. The government is taking various steps to ensure the growth of the pharmaceutical industry, and has proposed a budget of US$340m for turning Taiwan into an Asian Research and Development (R&D) center. According to the Act for the Development of Biotech and New Pharmaceuticals Industry, the government is providing incentives for new pharmaceutical companies, such as reductions in income tax.

Taiwanese market for medical devices is one of the largest in Asia due to the growing elderly population and consequent increase in demand for healthcare products and services. It was valued at US$1.66 Billion in 2009 and grew at a CAGR of 5% to US$2.27 Billion in 2016. By 2021, it is expected to reach US$2.95 Billion.

Taiwan has a compulsory NHI system that covers about 99% of the population (NHI, 2016). The second-generation NHI system was implemented in January 2013, and in July 2013 the name Bureau of NHI was changed to National Health Insurance Administration (NHIA). Owing to the reforms in the NHIA system, the NHIA no longer has a deficit in funding. The government is planning to initiate a third-generation NHI, which may take six to eight years to complete.

Taiwan plays a leading role as global trade and investment hub primarily due to its strategic location within the Asia-Pacific. With international shipping lanes, five free-trade zones, a modern financial sector and expertise in high-technology production, Taiwan is one of the world’s top destinations for investment in terms of ease of doing business, economic freedom, and competitiveness (US DoS, 2015).

The report "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Taiwan" is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Taiwan. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory, and reimbursement landscape and healthcare infrastructure.

In particular, this report provides the following -
- Provides an overview of the pharmaceutical and medical device market of Taiwan, including the market size; market segmentation.
- Covers the country’s reimbursement and payer landscape, as well as the regulatory landscape. The reimbursement and payer landscape section elaborates on the features of the healthcare reimbursement process for Taiwan.
- Provides a detailed analysis of the political and economic environment of Taiwan. It analyzes its economic indicators, demographics, healthcare infrastructure and healthcare expenditure.
- Provides an overview of the opportunities and challenges for growth that exist in the healthcare market of Taiwan.

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Taiwan, and includes -
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers
- Profiles and SWOT analyses of the major players in the pharmaceutical market: China Chemical & Pharmaceutical Co., Yung Shin Pharma, TTY Biopharm, Standard Chem & Pharm Co., and Taiwan Biotech; and of major players in the medical device market: Baxter International, Fresenius, Osstem Implant, Nobel Biocare, and Ivoclar Vivadent
- An insightful review of the reimbursement and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices
- Detailed analysis of the country’s political and economic environment, covering economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the Taiwanese healthcare market

Reasons to buy

This report will enhance your decision-making capability by allowing you to -
- Develop business strategies by understanding the trends shaping and driving Taiwan’s healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact Taiwan’s healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership.

Published By: GlobalData
Product Code: GlobalData41420


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