Taiwan Pharmaceuticals & Healthcare Report Q4 2014 - New Market Report

While Taiwan's intellectual property regime has some deficiencies, drug pricing remains the key issue of concern for the Pharmaceutical Research and Manufacturers of America (PhRMA). Given the increasing demand for health services from the ageing population, Taiwan will continue to limit the escalation of drug prices, which will negatively impact the pharmaceutical market's growth potential. In particular demand for long-term care and welfare expenditure is expected to rise, adding further weight to the government's fiscal burden. BMI has downgraded its pharmaceutical sales forecast for Taiwan. While the ageing population will support pharmaceutical sales, we maintain that government drug price controls will continue to limit growth.

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 decreased from previous quarter slightly after a change in the drug price adjustment policy.
* 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 almost unchanged from the previous quarter's projections.

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Risk/Reward Rating

Taiwan remained in forth position overall - now closely trailing Australia - in our latest Pharmaceutical Risk/Reward Rating (RRR) assessment of the 19 key markets in the Asia Pacific region, scoring 65.7 out of 100 behind Japan, South Korea and Australia respectively. While it is a small pharmaceutical market, Taiwan boasts above-average for Rewards and Risks, propped up by factors such as the 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 provides specialty chemicals and...

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.

Key Benefits

* 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.

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