BMI View: With a growing elderly population and one of Asia's best developed healthcare systems, Taiwan remains a lucrative market despite barriers to market entry, ranking among the top 25 in the world in value terms. The market will see moderate growth over the next five years and will remain primarily dependent on imports. Pricing pressures for manufacturers will increase due to cost containment measures including expansion of the country's diagnosis-related group payment system.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
In US dollar terms, the market will rise by a CAGR of 6.6% during the 2015-2020 period, with performance ranging from 8.1% for patient aids to 2.9% for diagnostic imaging. This will see the market grow from an estimated USD1,791.6mn in 2015 to USD2,467.4mn in 2020.
We expect import growth to be constrained by a tough reimbursement policy in the medium term. Imports grew by 1.0% y-o-y to USD354.9mn in the three months to February 2016 and by 5.3% to USD1,546.0mn for the 12 months ending February 2016.
We expect exports will continue to underperform in 2016 due to external headwinds, notably weaker demand from China. Exports rose by 3.2% y-o-y to USD210.1mn in the three months to February 2016 and by 1.7% to USD867.1mn for the 12 months ending February 2016.
Medical device manufacturers will face a more challenging market environment as the National Health Insurance Administration (NHIA) expands the diagnosis-related group payment system (Tw-DRG) to contain spending. In May 2016, NHIA Director General, Lee Po-chang, highlighted that it would continue to expand the Tw-DRG, a move which is likely to increase pricing pressure on medical device purchasing.
The Taiwan Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Taiwan provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Taiwan Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Taiwan, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Taiwan.
- Target Business Opportunities in the Taiwan Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Taiwan.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.