Taiwan-China Pact to Sharpen Local Pharma Ind. Global Edge

 2011/11/02  Taipei, Nov. 2, 2011 (CENS)--The signing of a cooperation agreement between China and Taiwan regarding medical and healthcare issues will raise international competitiveness of Taiwan-made pharmaceuticals, especially in emerging markets, according to the Council for Economic Planning and Development (CEPD) of Taiwan's Cabinet. Quoting the latest report by IMS, CEPD says the global pharmaceutical market totaled US$856 billion in 2010, and the value is expected to jump to US$1.1 trillion by 2015. Over the next few years, the council says, the U.S. market share will decline to 31% by 2015 from 41% in 2005; while that of the five major European nations (Germany, France, Italy, Spain and the U.K.) will fall to 13% by 2015 from 20% in 2005. During the same period, total market share of the 17 emerging economies, including China, Brazil, India etc., is expected to climb to 28% by 2015 from only 12% in 2005. CEPD also says the emerging markets are the major drivers of global pharmaceutical consumption, due to surging economic growth and institutional changes in the nations. So the emerging markets are expected to create annual demand for US$150 billion of drugs by 2015, in which only 20% is for active pharmaceutical ingredients (API) while the rest for generic drugs. CEPD says Taiwan enacted special statues for the focal-point development of the pharmaceutical industry in Taiwan in 2007, and signed an agreement with China in 2010 for bilateral promotion of the pharmaceutical industry, with the joint efforts to enable Taiwan's pharmaceutical industry to win higher market share in the booming global market.