OR WAIT 15 SECS
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.