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BMI's Executive Summary[TOP] Taiwan is of intermediary interest to multinational pharmaceutical firms operating in the Asia Pacific region. Positives to the US$4.32bn market include a traditional preference for branded medicines, a strong research environment and a highly urbanised population. However, several recent price cuts and a less than clear operating environment provide a degree of concern. BMI is expecting reasonable growth, with the market set to reach a valuation of US$5.29bn by 2012. Small pharmacies are strongly opposed to the price cuts. According to a September 2007 survey, drugstores were suffering losses because purchasing costs were sometimes higher than reimbursement prices. This resulted in some pharmacies refusing to provide dispensing services anymore, and advising patients to get their prescriptions filled by hospitals. The domestic industry received a boost in September 2007, when the Ministry of Economic Affairs unveiled anew tax relief to encourage research and development (R&D). Under the 'Act of the Development of Bio-pharmaceutical Industry', if drug-development activities account for over 5% of turnover or 10% of investment capital, a company will benefit from the measure. Taiwan's biotechnology sector is poised for rapid expansion after a decade of increasing investment. A multi-million dollar science park is being planned, government involvement is increasing and a local start-up recently acquired rights to an innovative medicine that could one day become a blockbuster. However, there are high risks involved and certain Asian rivals have head-starts in developing life sciences for commercial ends. BMI is confident that the country will continue to develop biotechnology, but cautions that the scale of anticipated upside may not be realised. Meanwhile, outpacing the pharmaceutical market significantly, Taiwan's US$1.86bn medical device sector is poised to expand steadily over the next 5 years. The two main drivers are a greater uptake of diagnostics for chronic diseases and an aging population, which, like the overall healthcare sector, will provide an increasing demand for products. BMI is projecting 7.1% year-on-year (y-o-y) growth through to 2012, when the sector will have a valuation of US$2.62bn. |
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Contents[TOP] Chapter 1 - Executive SummaryTaiwan Pharmaceuticals & Healthcare Industry SWOT Taiwan Political SWOT Taiwan Economic SWOT Taiwan Business Environment SWOT Chapter 2 - Taiwan: Business Environment RankingTable: Asia Business Environment Rankings Business Environment Ranking Economics - Long-Term Risk Politics - Long-Term Risk Regulatory Barriers Domestic Sector Threat Market Growth Potential Market Size Ranking Chapter 3 - Taiwan: Market SummaryChapter 4 - Regulatory RegimeIntellectual Property Regime Intellectual Property Developments Compulsory Licensing Pricing Regime Reimbursement Regime Price Cuts Chapter 5 - Industry Trends & DevelopmentsHealthcare System Health Status Domestic Pharmaceutical Sector Table: Taiwan: Local Industry Players Domestic Company Activity Foreign Company Activity Medical Devices Biotechnology Sector Vaccines Traditional Chinese Medicine Chapter 6 - Industry Forecast ScenarioOverall Market Forecast Table: Taiwan Drug Market Forecast Indicators Key Growth Factors - Industry Table: Taiwan Health Expenditure Forecast Indicators Key Growth Factors - Macroeconomic Table: Population & Output Prescription Market Forecast Table: Taiwan Prescription Drug Market Forecast Indicators OTC Market Forecast Table: Taiwan OTC Market Forecast Indicators Generics and Branded Market Forecasts Table: Taiwan Generics and Branded Market Forecast Indicators Export/Import Forecasts Table: Taiwan Trade Indicators Other Healthcare Data Forecasts Table: Hospital Data Trends Key Risks to BMI's Forecast Scenario Chapter 7 - Competitive LandscapeOverview Chapter 8 - Company ProfilesLeading Multinational Manufacturers Pfizer GlaxoSmithKline Novartis Sanofi-Aventis Merck & Co Indigenous Manufacturer Profile Yung Shin Pharmaceutical (YSP) ScinoPharm Taiwan Synmosa Biopharma Empax Pharma Purzer Pharmaceutical Taiwan Biotech Co Chapter 9 - BMI Forecast ModellingHow We Generate Our Industry Forecasts Technical Process Pharmaceutical Industry Sources Chapter 10 - Appendix: Regional Demographic DataTable- Manufacturing Wages (ave per annum), US$ Table - Population Household Spending Per Capita, US$ Private Consumption Per Capita, US$ PPP Market Size, GDP, US$bn Chapter 11 - Country Snapshot: Taiwan Demographic DataSection 1: Population: Table: Demographic Indicators (2005) Table: Employment Indicators Table: Consumption and Stratification Table: Wages per year
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Competitive Landscape for Asia Pharmaceuticals and Healthcare: Sample of Companies Ranked[TOP] Cross-border analysis of regulatory systems comparing the patenting environment, summarising regional pricing and reimbursement factors and monitoring the growth of the Pharmaceuticals sector across the region. Company SWOTs cover leading multinational and national drug companies operating in each market. |
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Network of Asian Pharmaceuticals & Healthcare Sources[TOP] BMI's Asian Pharmaceuticals Healthcare Reports are based on an extensive network of multilateral organisations, government departments, pharmaceuticals & healthcare industry associations, chambers of commerce and company reports. Information sources include: |
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