Headline Expenditure Projections
- Pharmaceuticals: TWD161.33bn (USD5.43bn) in 2013 to TWD167.53bn (USD5.88bn) in 2014; +3.8% in local currency terms and +8.2% in US dollar terms. Forecast decreased from previous quarter slightly after a change in the drug price adjustment policy.
- Healthcare: TWD964.25bn (USD32.47bn) in 2013 to TWD1,001.25bn (USD35.13bn) in 2014; +3.8% in local currency terms and +8.2% in US dollar terms. Forecast lower ed from the previous quarter's projections.
Taiwan dropped one spot to forth position overall - now closely trailing...
The Taiwan Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Taiwan Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Taiwanese pharmaceutical and healthcare industry.Key Benefits
CoverageBMI Industry View & Industry SWOT
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Taiwan to test other views - a key input for successful budgeting and strategic business planning in the Taiwanese pharmaceutical and healthcare market.
- Target business opportunities and risks in the Taiwanese pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Taiwan.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.Market Summary
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.Regulatory Regime
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.Industry Developments
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Healthcare: Total healthcare expenditure (US$bn), healthcare expenditure (% of GDP), healthcare expenditure per capita (US$), hospital beds (per `000 population), doctors (per `000 population), birth and mortality rate (per `000 population)
Pharmaceutical market: Drug expenditure (US$bn), drug expenditure (% of GDP), drug expenditure per capita (US$)
Patented drug market: Prescription drug sales (US$bn), prescription sales (% of total sales), sales broken down by 14 therapeutic areas (cardiovascular, anti-infectives etc.)
Generic drug market: Generic product sales (US$bn), generic sales (% of total sales)
OTC drug market: OTC sales (US$bn), OTC sales (% of total sales), sales broken down by product types (analgesics, skin treatments, vitamins and minerals etc.)
Medical Devices: Medical device sales (US$bn), medical device sales (% of total healthcare market)
Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against US$, government expenditure, external debt.Competitive Landscape
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
BMI View: BMI believe s that cost-containment policies will not place significant pressure on healthcare expenditure in Taiwan. This is because the majority of spending in the medical services sector goes towards salaries for doctors and nurses, which are difficult to cut back on without arousing political opposition. Meanwhile, the needs of the ageing population mean that demand is increasing for innovative pharmaceuticals and medical devices, which will sustain higher health expenditure . Taiwan's worsening demographics are also expected to compound the problems in the labour market and act as a further drag on Taiwan's structural growth. According to the government's own estimates, Taiwan is slated to become a rapidly ageing society in the decades ahead. In this respect, we particularly highlight the rising importance of elderly care, which will benefit nursing home providers, medical device companies and pharmaceutical firms looking to enter developed countries in the region. Meanwhile, generic drug firms will benefit from the increased use of generic medicines in the region. Meanwhile, Taiwan's Food and Drug Administration (FDA) has warned physicians in the country against prescription falsification and said the flow and use of controlled drugs is being closely monitored. The agency said of the total of 183 investigations, 124 were in violation of the Controlled Drugs Act.