Boston, MA -- (SBWire) -- 06/26/2013 --Taiwan will continue to represent a modestly attractive proposition for drug manufactures. Our view is based on factors such as the maturity of its pharmaceutical market, government encouragement of generic medicines and authorities desire to reduce unnecessary use of medicines. For example, the Bureau of National Health Insurance (BNHI) in Taiwan is cracking down on prescription drugs waste by tightening its oversight of prescription drug distribution. Therefore, we envisage that main drivers of the Taiwanese pharmaceutical market development will be volume- based, thus not necessarily translating into strong value gains, especially given the pending changes to reimbursement.
Headline Expenditure Projections
- Pharmaceuticals: TWD142.50bn (US$4.82bn) in 2012 to TWD149.90bn (US$5.12bn) in 2013; +5.2% in local currency terms and +6.2% in US dollar terms. Forecast broadly in line with previous quarter's projections.
- Healthcare: TWD975.96bn (US$32.99bn) in 2012 to TWD1,023bn (US$34.93bn) in 2013; +4.9% in local currency terms and +5.9% in US dollar terms. Forecast broadly in line with previous quarter's projections.
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Risk/Reward Rating: Taiwan again occupies sixth position in our latest Pharmaceutical Risk/Reward Rating (RRR) assessment of the 18 key markets in the Asia Pacific region. The new Risk and Reward assessment tool is more transparent and more sensitive in regards to potential rewards. While it is a small pharmaceutical market, Taiwan boasts above-average Rewards and Risks, propped up by factors such as the high per capita consumption of medicines.
Key Trends & Developments
- In February 2013, Japanese company Eisai's subsidiary Eisai Taiwan reached a deal to divest a plant in Tainan, Taiwan, to Taiwanese pharmaceutical company Bora. The move comes as the company is revamping its production network. The company is selling the plant as it does not comply with its new global-centric approach. The divestment is likely to be finalised by September 2013. The plant, which became operational in 1974, has manufactured medicines for Asian markets. The financial details of the deal have not been disclosed. Eisai Taiwan is a wholly-owned subsidiary of Eisai. Its Tainan plant has approximately 130 employees, approximately 50 of whom are employed at the Tainan plant.
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Market Report, "Taiwan Pharmaceuticals & Healthcare Report Q3 2013", Published
Fast Market Research recommends "Taiwan Pharmaceuticals & Healthcare Report Q3 2013" from Business Monitor International, now available