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

July 15, 2015

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 Content:

Technology