Taiwan pharmaceutical market outlook 2013 - Report Corner


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GBI Research, the leading business intelligence provider, has released its latest research "Taiwan Pharmaceutical Market Outlook 2013". The report focuses on the Taiwanese pharmaceutical market, providing market analysis and a forecast to 2018.

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Taiwan pharmaceutical market outlook 2013 - Report Corner

  1. 1. RCReports CornerTaiwan Pharmaceutical Market Outlook 2013
  2. 2. DescriptionDescriptionReports Cornerwww.reportscorner.comGBI Research, the leading business intelligence provider, hasreleased its latest research “ADHD Therapeutics Market to 2018 -New Diagnostic Parameters for Adult ADHD Offer Hope for HigherRates of Treatment”. The report provides insights into the up-and-coming trends of the ADHD market in seven major markets: theUS, the top five European countries (France, Germany, Italy, Spainand the UK) and Japan.
  3. 3. Brief SummaryBrief SummaryReports Cornerwww.reportscorner.comTaiwan’s Pharmaceutical Market Expected to Reach $5.5 Billion by2018Taiwan’s healthcare is driven by a single-payer global budgetsystem run by the Bureau of National Health Insurance (BNHI).National health expenditure stood at TWD 910.2 billion ($30.9billion) in 2011 and will grow at a rate of 2.2% to reach TWD 937.6billion ($31.6 billion) in 2012. Taiwan’s pharmaceutical market wasworth $4.4 billion in 2012, having grown at a Compound AnnualGrowth Rate (CAGR) of 2.9% from 2006, and is estimated to reach$5.5 billion by 2018 at a CAGR of 3.9%. Some of the key drivers ofgrowth in the forecast period are:
  4. 4. Brief SummaryBrief SummaryReports Cornerwww.reportscorner.com• The provision of incentives for the biotech sector in the form ofinvestment support, as part of the National Development Fund,worth TWD60 billion ($1.8 billion) in the coming six to 10 years.The Department of Health (DoH) and BNHI have introducedsecond-generation National Health Insurance (NHI), which isexpected to improve pricing and regulatory policies. Researchalliances with academic institutions and public-privatepartnerships are expected to boost research in new drugdevelopment, with several projects already underway andproducts already in late-stage clinical trials.• The improving cross-straits relations with the People’s Republicof China (PRC) are expected to drive the market demand for drugsin common diseases.
  5. 5. Brief SummaryBrief SummaryReports Cornerwww.reportscorner.comTrade relations improved with the recent signing of the EconomicCooperation Framework Agreement, and the Cross-StraitCooperation Agreement on Medicine and Public Health Affairswas signed especially to promote cooperation in medicinedevelopment and disease prevention. Taiwan could prove to bethe launch pad for new drugs to gain access into the much largerChinese market.• An aging population, the rising prevalence of lifestyle diseaseand the increasing demand for new technologies in medicine areexpected to drive market growth. The demand for new drugs inoncology and liver cancer is expected to increase, and circulatoryand genitourinary diseases are other key therapeutic areas withgrowth potential.Major Structural Changes and Government Policies Expected toAddress Industry Concerns and Challenges
  6. 6. Brief SummaryBrief SummaryReports Cornerwww.reportscorner.comTaiwan is expected to address the major challenges faced by thepharmaceutical market, especially by overseas investors, in thecoming two to three years, providing encouragement for moreinvestment in the sector.• Strict drug pricing controls to be achieved by setting DrugExpenditure TargetsAfter seven rounds of pricing adjustments, which were achievedthrough Price-Volume Surveys (PVS), by 2011, drug prices inTaiwan were the lowest among the developed markets, with theaverage price of original drugs at just 28% of the US average. Toaddress this challenge, the new second-generation NHI law of2011 proposed setting an annual Drug Expenditure Target (DET)based on the historical data of actual drug expenditures andnegotiations with the pharmaceutical industry.
  7. 7. Brief SummaryBrief SummaryReports Cornerwww.reportscorner.comHowever, another challenge in drug pricing remains: genericdrugs prices are as high as originator drug prices due to a policyof grouping similar products. This discourages original R&Dcompanies from the market. Generic drug prices are much higherthan in other countries, at 80–100% of the price of originatordrugs.• Provider price-reimbursement gap to be addressed byseparating dispensing from prescribingHospitals and clinics in Taiwan have the authority to bothprescribe and dispense medication, and hence the price paid tothe manufacturer is often different from the price reimbursed,inducing a price gap and affecting the profits of mainly originatorcompanies.• Challenges in intellectual property rights protection still persist
  8. 8. Brief SummaryBrief SummaryReports Cornerwww.reportscorner.comAlthough the government’s Intellectual Property Rights (IPR)policies are being reviewed, major issues still persist, deterringthe international community from investing in the sector. Onemajor challenge is that many patent-infringing drugs are beingapproved and included in the reimbursement list.
  9. 9. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com1 Table of Contents1 Table of Contents 51.1 List of Tables 71.2 List of Figures 92 Taiwan Pharmaceutical Market Outlook 2013 – Introduction 112.1 Taiwan Pharmaceutical Market 113 Taiwan Pharmaceutical Market Outlook 2013 – Investment Environment 123.1 Government and Political Environment 123.2 Taiwan Economic Outlook 123.3 Foreign Trade and Investment 143.4 Investment Incentives – Government Boosting the Biotech Sector 163.4.1 Act for the Development of Biotech and New Pharmaceuticals Industry (2007) 163.4.2 Diamond Action Plan for Biotechnology Takeoff (2009) 163.5 International Appraisal and Membership 173.5.1 Patent Prosecution Highway Pilot program 17
  10. 10. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com3.5.2 Pharmaceutical Inspection Convention and Inspection Cooperation Scheme 174 Taiwan Pharmaceutical Market Outlook 2013 – Healthcare System 184.1 Healthcare System 184.1.1 Department of Health 184.1.2 Bureau of National Health Insurance 194.1.3 Health Insurance Coverage 204.1.4 Health Insurance System Challenges 224.1.5 Health Policy Initiatives 234.2 Healthcare Expenditure 244.2.1 Healthcare Spending 244.2.2 Healthcare Expenditure by Type of Service 274.2.3 Healthcare Expenditure on Pharmaceutical Products 284.2.4 Public Health Expenditure 304.3 Healthcare Infrastructure 324.3.1 Healthcare Facilities 32
  11. 11. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com4.3.2 Healthcare Coverage 334.3.3 Healthcare Personnel 354.4 Population Health 394.4.1 Demographics 394.4.2 Life Expectancy 414.4.3 Mortality 435 Taiwan Pharmaceutical Market Outlook 2013 – Regulatory Landscape 455.1 Drug Pricing and Reimbursement 455.1.1 Drug Reimbursement 455.1.2 Pricing Policies 455.1.3 Pricing Trends 475.1.4 Challenges in the Reimbursement Process 485.1.5 Drug Expenditure Target 495.2 Policy and Regulatory Environment in Taiwan 495.2.1 New Drug Approval 49
  12. 12. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com5.2.2 Intellectual Property Rights 506 Taiwan Pharmaceutical Market Outlook 2013 – Market Overview 526.1 Pharmaceutical Market Overview 526.2 Pharmaceutical Market Size 536.3 Market Segments 546.4 Key Therapeutic Areas 586.4.1 Respiratory Diseases 616.4.2 Digestive Diseases 646.4.3 Genitourinary Diseases 676.4.4 Circulatory Diseases 696.4.5 Malignant Neoplasms 726.5 Emerging Areas 776.5.1 Orphan Drugs 776.6 Drug Distribution and Pharmaceutical Supply Chain 786.7 Spending in Pharmaceutical R&D 79
  13. 13. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com7 Taiwan Pharmaceutical Market Outlook 2013 – Competitive Landscape 807.1 Key Foreign Entities 807.1.1 Pfizer 807.1.2 Sanofi 857.1.3 Novartis 897.1.4 GlaxoSmithKline 947.2 Key Domestic Players 1007.2.1 The China Chemical & Pharmaceutical Company 1007.2.2 Standard Chemicals & Pharmaceuticals Co. Ltd. 1037.2.3 Yung Shin Pharmaceutical. Ind. Co. Ltd. 1067.2.4 ScinoPharm Taiwan 1097.2.5 TTY Biopharm Company Limited 1148 Taiwan Pharmaceutical Market Outlook 2013 – Market Dynamics 1178.1 Industry Drivers and Opportunities 1178.2 Barriers to Entry 117
  14. 14. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com8.3 Recent Industry Activity and Consolidation 1189 Taiwan Pharmaceutical Market Outlook 2013 – the Way Forward 1199.1 Key Insights 1199.2 Market Opportunities 1199.3 Future Market Outlook 12010 Taiwan Pharmaceutical Market Outlook 2013 – Appendix 12110.1 Market Definitions 12110.2 Abbreviations 12110.3 Bibliography 12310.4 Research Methodology 12610.4.1 Coverage 12710.4.2 Secondary Research 12710.4.3 Primary Research 12710.4.4 Expert Panel Validation 12810.5 Contact Us 128
  15. 15. Table of ContentsTable of ContentsReports Cornerwww.reportscorner.com10.6 Disclaimer 128
  16. 16. For more informationFor more informationReports Cornerwww.reportscorner.comFor more information please visit our websitehttps://www.reportscorner.com/reports/21651/Taiwan-Pharmaceutical-Market-Outlook-2013/
  17. 17. Reports CornerThank YouThank Youwww.reportscorner.comRCContact us: contact@reportscorner.com