|
|
Taiwan Phamaceuticals and Healthcare Report Q1 2008Published by: Business Monitor International Published: Feb. 25, 2008 - 85 Pages Table of Contents
AbstractTaiwan is of intermediary interest to multinational pharmaceutical firms operating in the Asia Pacificregion. Positives to the US$4.32bn market include a traditional preference for branded medicines, astrong research environment and a highly urbanised population. However, several recent price cuts and aless 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 reimbursementprices. This resulted in some pharmacies refusing to provide dispensing services anymore, and advisingpatients to get their prescriptions filled by hospitals. The domestic industry received a boost in September 2007, when the Ministry of Economic Affairsunveiled anew tax relief to encourage research and development (R&D). Under the ‘Act of theDevelopment of Bio-pharmaceutical Industry’, if drug-development activities account for over 5% ofturnover 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. Amulti-million dollar science park is being planned, government involvement is increasing and a localstart-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 lifesciences 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 devicesector is poised to expand steadily over the next 5 years. The two main drivers are a greater uptake ofdiagnostics for chronic diseases and an aging population, which, like the overall healthcare sector, willprovide an increasing demand for products. BMI is projecting 7.1% year-on-year (y-o-y) growth throughto 2012, when the sector will have a valuation of US$2.62bn. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||