Life Science Opportunities

An Expert's View about Human Health Services in Taiwan

Last updated: 21 Aug 2011

The Government has identified the life science industry as a key future high growth industry, and does its best to promote the industry overall and also specific sub sectors such as drug discovery, medical devices, herbal medicine/nutraceuticals, biomaterials, and agricultural /animal health.

Sector briefing Life Science Opportunities in Taiwan Why Taiwan? Since the 1950s Taiwan?s economy has primarily focused on the development of manufacturing capacities and capabilities, initially on infrastructure and heavy industries, which over the decades has slowly transitioned to machine industries and precision engineering. Today, Taiwan has firmly established itself as a worldwide leader in semiconductor and consumer electronics industries. In contrast, Taiwan?s life science industry has drug discovery, medical devices, herbal only a 0.5% share of total global production medicine/nutraceuticals, biomaterials, and value. This represents an untapped potential agricultural /animal health. It has set ambitious with plenty of scope for future growth in this targets such as increasing its annual research high value knowledge economy industry. and development budget for the sector to at least 3% of GDP within two years, and In 2009, the total production value of Taiwan?s increasing the value of the industry?s annual life science industry was NT$ 210.5 billion (about £4.3 billion) according to official output to more than NT$1 trillion (about £20.5 Government statistics. It is expected the figure billion) in four years, through the creation of a for 2010 will exceed this by a significant life science venture capital fund and incubation margin. Similarly, local investment in the life centres. science industry by the private sector totalled NT$26.28 billion (about £540 million), showing Find general information on Taiwanese market an increase of 5% from the previous year. conditions on UKTI?s website. The Doing Business Guide for Taiwan gives an overview of The Government has identified the life science Taiwan?s economy, business culture, potential industry as a key future high growth industry, opportunities and an introduction to other and does its best to promote the industry relevant issues. overall and also specific sub sectors such as UK Trade & Investment Sector briefing: Life Science opportunities in Taiwan has matured. Anti-aging products and products that claim to inhibit body fat are expected to Opportunities have the strongest growth potential. Drug Discovery Increasing worries about the impact of the economic crisis on careers and job Many leading foreign pharmaceutical opportunities has led to a reported increase in companies have committed to research and demand for nutraceutical products that calm, development in Taiwan and have invested relax or act as an anti-depressant. heavily in local clinical trials. For a large pharmaceutical company such as GSK alone Biomaterials from 2007 to 2009, there were 35 global clinical trials conducted in Taiwan including Taiwan imports high end biomaterial products pharmaceuticals and vaccines, covering various that it is unable to produce domestically, such stages from Phase I to Phase III. Some of as heart stents, dental implants, and so on. these trials are global, large-scale Phase III Other middle to low end items such as catheter trials, for pharmaceuticals such as rotavirus, supplies are also imported with main import cervical cancer, pneumococcal vaccines and sourcing countries being the United States, lung cancer clinical trials. Japan and Germany. Medical Devices On the export side of things the bulk of all exported products comprise of contact lenses The import value of Taiwan?s medical and catheters, and various other biomaterials equipment in 2009 was NT$45.8 billion supplies. The three largest export destination (about £941 million), showing a growth countries are Japan at 32%, the UK at 13.5% of 3.7% from 2008. In contrast the export and China at 7% of all exports by value. value was less at NT$31.7 billion (about £651 million), recording a 3.3% growth Agricultural / Animal Health from 2008. These figures were supplied by the Industrial Economics and Although agriculture only accounts for about Knowledge Centre (IEK) of the Industrial 3% of Taiwan?s GDP, it is high on everyone?s Technology Research Institute (ITRI). agenda affecting food security and people?s welfare. To this end, the Development Government and industry have gradually Programme of Industrialisation for Agricultural realised the increasing importance of the Biotechnology was set up with an ambitious development of the medical equipment goal to deliver a 50% increase in agricultural industry, and many different new production value within five years. Six priority manufacturers are considering entry into the focus areas have been identified and these are: market with their own technologies. In the past aquaculture, livestock and poultry, plant two years, new entrants from the electronics seedlings, orchids, bio-pesticides & fertilizers and traditional manufacturing industries are and Chinese herbs and health foods. starting to invest and develop technologies and products, which will have a significant growth impact in the next three to five years. Herbal Medicine/Nutraceuticals In 2007, the overall size of the nutraceuticals and dietary supplements market in Taiwan was approximately NT$94 billion (about £1.9 billion). Imported products accounted for around 70 to 75% of the market. Products from the United States dominate with a market share of 40% (mainly vitamins), followed by Japan with 20%. Products that promote or improve gastrointestinal functions and regulate or modulate blood lipids face the strongest competition as the market for these products UK Trade & Investment Sector briefing: Life Science opportunities in Taiwan Major events and activities UKTI contacts MEDIPHAR (www.mediphar.com.tw) 3-6 Contact us to see what opportunities are November 2011 is the place to see the latest available in Taiwan for your business: products all medical and pharmaceutical related. UK Trade & Investment - Taiwan Stephen Metti Find full details of all events in this Head of Trade and Investment country and sector on the UKTI website. Tel: +886 2 8758 2088 New export events are added daily to the site Fax: +886 2 8758 2050 and you can register to be alerted to them on a Email: info.taipei@fco.gov.uk daily, weekly or monthly basis UKTI?s Tradeshow Access Programme (TAP) provides grant support for eligible Small & Medium Sized Enterprises (SME's) to attend trade shows overseas. Find out more about UKTI support for attendance at overseas events. UK Trade & Investment Sector briefing: Life Science opportunities in Taiwan ? Establishment of interest of such contacts in working with you Next steps - ? Arranging appointments How UKTI can help ? Organise seminars or other events for you to meet contacts and promote your British companies wishing to develop their company in the Taiwanese market business in the Taiwanese market are advised to undertake as much market research and This work is available via our Overseas Market planning as possible in the UK. UKTI?s team in Introduction Service (OMIS) a chargeable Taiwan, with its wide local knowledge and service which assists British-based companies experience, can provide a range of services to wishing to enter or expand their business in British-based companies wishing to grow their overseas markets. business in global markets. To find out more about commissioning this This can include: work, or accessing other UKTI services and ? Provision of market information specialist advice, please visit the UKTI website ? Validated lists of agents/distributors to find contact details for your local UKTI ? Key market players or potential office. customers in the Taiwanese market Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation & Skills, and the Foreign & Commonwealth Office), accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Published 2011 by UK Trade & Investment. Crown Copyright © You may reuse this information (not including logos, images and case studies) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit www.nationalarchives.gov.uk/doc/open-government- licence/ or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gsi.gov.uk . This publication is also available from our website at www.ukti.gov.uk or for more information please telephone +44 (0)20 7215 8000. UK Trade & Investment Sector briefing: Life Science opportunities in Taiwan
Posted: 21 August 2011, last updated 21 August 2011

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