Healthcare opportunities

An Expert's View about Medical and Dental Services in Taiwan

Last updated: 29 Jul 2011

It is estimated that Taiwan’s import value of medical devices will reach NTD47.6 billion (£1.1 billion) in 2010, a growth rate of 8.9% compared to 2009.

Sector briefing Healthcare opportunities in Taiwan Why Taiwan? It is estimated that Taiwan?s import value of medical devices will reach NTD47.6 billion (£1.1 billion) in 2010, a growth rate of 8.9% compared to 2009. The total national expenditure on healthcare is about NTD772.6 billion (£16 billion), the average health expenditure per person in Taiwan is USD939 while it is USD6, 697, USD2, 871 and USD59 in the US, UK and China respectively. Taiwan?s health expenditure accounts for 6.2% of its GDP which makes it no. 41 in the world rankings. Taiwan?s excellent IT infrastructure makes the ?Taiwan is heavily dependent market an ideal testing market for new on imported medical devices, technologies. The Government is keen to with nearly 65% of medical promote Taiwan as the ?intelligent island? by upgrading the industry and encouraging IT devices being imported? applications across industries, especially in healthcare and related services. Find general information on Taiwanese market conditions on UKTI?s website. The Doing Business Guide for Taiwan gives an overview of Taiwan?s economy, business culture, potential opportunities and an introduction to other relevant issues. UK Trade & Investment Sector briefing: Healthcare opportunities in Taiwan Opportunities Healthcare While medical devices is a growing industry in The Government will encourage market Taiwan, nearly 65% of the market is supplied demand by subsidising preventative healthcare by imported products; the US and Japan are services and encouraging private investment in the two major supplying countries, followed by the field, with the goal of seeing the market Germany, Ireland and Switzerland. Advanced value of healthcare services and health food medical devices, diagnostic and large items of industry reaching NTD189.5 billion (£4 billion) equipment used in hospitals are imported. by 2012 and revenues of health checkups amounting to NTD11.4 billion (£245 million). In order to upgrade the healthcare industry, the Government has announced that it plans to Also, it is worth noting that opportunities in invest USD2.59 billion over the next four years. self-paid medical services such as premium Key areas are as follows: health check-ups and medical beauty treatments received growing attention by Intelligent Medicine hospitals/clinics as possible profitable units. The Government plans to spend NTD1.4 billion Taiwan?s strategic Position in the Region (£30 million) on digitising medical examination reports and medical imaging within five years, Strong ties with China make Taiwan an ideal establishing an image exchange and sharing business partner for foreign companies to centre in two years and issuing second- expand business in China. It is worth generation smart health insurance cards. leveraging Taiwan?s business networks in China and its geographical and cultural benefits if Relevant databanks from these systems can companies wish to develop business in China. also be further used in remote medical monitoring and wireless medical telemetry If you have any questions on the opportunities services. above, contact the UKTI Taiwan Healthcare Sector contacts named in this report. Business Long-Term Care System opportunities aimed specifically at UK companies are added daily to UKTI?s website. Taiwan shares similar concerns of an ageing These leads are sourced by our staff overseas population with many developed countries. in British Embassies, High Commissions and 10% of the population is aged 65 or above, Consulates, across all sectors and in over 100 and hence the Government has been planning markets. and promoting long-term care projects to cope with these increasing needs. You can be alerted to business opportunities on a regular basis by registering on the UKTI In addition, a comprehensive plan for the website. Find out more on UKTI?s business gradual launch of a long-term care insurance opportunities service on the UKTI website. system is planned to be implemented in 2012. The programme is expected to help generate domestic demand and to provide opportunities for foreign companies to work with local companies to bid for the tenders. Globalisation of Medical Services With the goal of seeing medical tourists accounting for 10% of the total tourist arrivals, the Government is planning to invest NTD1.7 billion (£36 million) to promote medical tourism and to attract foreign patients seeking bone marrow transplants, joint replacements, health check- ups, tooth implants and other medical treatment. UK Trade & Investment Sector briefing: Healthcare opportunities in Taiwan Major events and activities UKTI contacts 2011 Mediphar Taipei Stephen Metti Contact: British Trade and Cultural Office Head of Trade & Investment Email: Alan.Bell@fco.gov.uk British Trade and Cultural Office Time: 3-6 Nov 2011 Tel: +886 2 8758 2088 Email: info.taipei@fco.gov.uk Find full details of all events in this country and sector on the UKTI website. Alan Bell New export events are added daily to the site Senior Commercial Officer and you can register to be alerted to them on a British Trade and Cultural Office daily, weekly or monthly basis Tel: +886 2 8758 2032 Email: Alan.Bell@fco.gov.uk UKTI?s Tradeshow Access Programme (TAP) www.ukti.gov.uk 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: Healthcare opportunities in Taiwan 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 ? Establishment of interest of such contacts in working with you 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: Healthcare opportunities in Taiwan
Posted: 28 July 2011, last updated 29 July 2011