Research and Markets: Taiwan Pharmaceuticals and Healthcare Report Q2 2012

 Thursday, Mar. 15, 2012    DUBLIN -- Research and Markets  has announced the addition of the "Taiwan Pharmaceuticals and Healthcare Report Q2 2012" report to their offering.  While high volume consumption of pharmaceuticals per capita will continue to draw multinationals to Taiwan, the country remains committed to cost-containment in the public healthcare spending sphere. The latest round of price cuts was implemented in December 2011, despite industry dissatisfaction. In the meantime, Taiwanese drug manufacturers will increasingly aim to target foreign markets with higher value-added products, with biotechnology actively encouraged by the government.  

Headline Expenditure Projections  Pharmaceuticals: TWD135.10bn (US$4.59bn) in 2011 to TWD140.78bn (US$4.47bn) in 2012; +4.2% in local currency terms and -2.7% in US dollar terms. US forecast markedly lower than in Q112 due to exchange rate considerations.  Healthcare: TWD783.54bn (US$26.65bn) in 2011 to TWD809.12bn (US$25.69bn) in 2012; +3.3% in local currency terms and -3.6% in US dollar terms. US forecast markedly lower than in Q112 due to exchange rate considerations.  Medical devices: TWD49.23bn (US$1.67bn) in 2011 to TWD51.14bn (US$1.62bn) in 2012; +3.9% in local currency terms and -3.0% in US dollar terms. US forecast markedly lower than in Q112 due to exchange rate considerations.    

Key Trends & Developments  In a bid to strengthen cross-strait relations, Taiwan is allowing mainland Chinese tourists to visit the country explicitly for healthcare purposes. Drug prices in Taiwan are adjusted every two years, despite industry protests, with the seventh adjustment taking place in December 2011.  In December 2011, a group of breast cancer patients and their supporters submitted an appeal to Taiwan's Control Yuan asking it to look into the NHI system. They said the BNHI fails to ensure fairness and transparency in the reimbursement system.