Taiwan Pharmaceuticals & Healthcare Report Q1 2015
Headline Expenditure Projections
- Pharmaceuticals: TWD160.66bn (USD5.41bn) in 2013 to TWD167.74bn (USD5.59bn) in 2014; +4.4% in local currency terms and +3.4% in US dollar terms. Forecast unchanged from previous quarter .
- Healthcare: TWD964.25bn (USD32.47bn) in 2013 to TWD1,004.83bn (USD33.49bn) in 2014; +4.2% in local currency terms and +3.2% in US dollar terms. Forecast unchanged from the previous quarter's projections.
Taiwan has moved down one place in our index, from fourth to fifth out of the 19 key markets. We have given the country a score of 64.5 for Q115, down slightly from 65.7 in Q414, resulting in it now coming behind Hong Kong in our regional matrix. While it is a small pharmaceutical market, Taiwan boasts above-average Rewards and Risks, propped up by factors such as high per capita consumption of medicines and an excellent chance to capitalise on the mainland-China market. Taiwan has a very strong active pharmaceutical ingredient (API) industry. Although it is small, which makes the domestic market competitive and particularly constraining, it excels at providing specialty chemicals and high-quality APIs for global needs. The now-annual price adjustments will certainly fuel the need for local companies to outgrow the small domestic market.
Key Trends & Developments
The Taiwan Health Reform Foundation (THRF) has claimed that the National...
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.
- 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.
BMI Industry View & Industry SWOT
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.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
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.
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$, government expenditure, external debt.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
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.
Taiwan is one of the most attractive and stable prospects in the region for pharmaceutical and healthcare investment, but i s not without flaws. Weaknesses in the country's regulatory regime and drug pricing concerns will continue to deter multinational interest over our forecast period. While our forecasts going into 2015 are unchanged from the previous quarter, BMI believes that Taiwan's export market is poised to benefit greatly from its advantageous position in API manufacturing, and the high regard for Taiwanese private healthcare services in the region.
BMI Industry View
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Taiwan 2010-2018)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Taiwan 2010-2018)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Taiwan 2010-2018)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Taiwan 2010-2018)
Presciption Drug Market Forecast
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Taiwan 2010-2018)
Patented Drug Market Forecast
Table: Top 10 Pharmaceuticals In Taiwan According To BNHI Expenditure During 2008
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Taiwan 2010-2018)
Generic Drug Forecast
Table: Generics Drug Market Indicators, Historical Data And Forecasts (Taiwan 2010-2018)
OTC Medicine Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Taiwan 2010-2018)
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade Data And Forecasts (Taiwan 2012-2018)
Table: Pharmaceutical Trade Data And Forecasts local currency (Taiwan 2012-2018)
Other Healthcare Data
Key Risks To BMI's Forecast Scenario
Table: Taiwan - Economic Activity
Industry Risk Reward Ratings
Asia Risk/Reward Ratings
Taiwan Risk/Reward Ratings
Industry Trends And Developments
Table: Sources Of Financing
Table: Taiwan Insurance Coverage
Traditional Chinese Medicine
Table: Medicine Categories In Taiwan
Table: Examples Of Controlled Drugs In Taiwan
Recent Regulatory Developments
Intellectual Property Regime
Table: Reimbursement System in Taiwan
Table: Drug Reimbursement Principles
Table: BNHI Spending By Type Of Outpatient Claims, As Percentage Of Total
Table: Western & TCM Manufacturers, 2006-10
Table: Pharmaceutical Output Value by Type, 2002-2010 (US$mn)
Domestic Pharmaceutical Sector
Table: Top-20 Pharmaceutical & Biotechnology Firms In Taiwan According To Market Capitalisation (US$mn)
Table: TGPA Members, 2012
Foreign Pharmaceutical Sector
Table: Corporate Members Of Taiwan's IRPMA, 2012
Table: Western Drug Distributors 2006-2010
Table: Pharmacies, 2006-2010
Yung Shin Pharmaceutical (YSP)
Merck & Co
Table: Taiwan's Population By Age Group, 1990-2020 ('000)
Table: Taiwan's Population By Age Group, 1990-2020 (% Of Total)
Table: Taiwan's Key Population Ratios, 1990-2020
Pharmaceutical Expenditure Forecast Model
Healthcare Expenditure Forecast Model
Notes On Methodology
Risk/Reward Ratings Methodology
Table: Pharmaceutical Risk/Reward Ratings Indicators
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