Logo Image
|Articles|July 15, 2015

Taiwan's Pharma Market to Reach $8.4 Billion by 2020

July 15, 2015.

Taiwan’s pharmaceutical market will expand in value from $5.4 billion in 2013 to approximately $8.4 billion by 2020, according to a GlobalData report. This is despite the ongoing political tensions with China.

The report states that diplomatic isolation, high out-of-pocket expenditure and the inefficient distribution of healthcare facilities are the foremost challenges to Taiwan’s pharmaceutical sector. With many people in Taiwan also fearing a move towards reunification with China, the outcome of the 2016 general election will be key.

However, according to GlobalData's Joshua Owide, Taiwan’s pharmaceutical outlook remains positive, with opportunities presented by a free trade agreement with the US, low-taxation investment environment, harmonized clinical trial process, an efficient patent system, and strong incentives for R&D.

CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Republic of China (Taiwan)

Related to this article

View more
How QMM Can Help the C-Suite See a $100 Million Problem Early
How QMM Can Help the C-Suite See a $100 Million Problem Early
A passing FDA inspection tells pharma senior leadership very little about whether the next significant revenue vulnerability is already taking shape. But continuous, AI-enabled quality management maturity (QMM) has the potential to do so months before the issue reaches the realm of P&L.
Read more