Taiwan Medical Devices Report

Published 07 May 2015

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Taiwan Medical Devices Report

BMI Industry View: The ongoing conflict of interest between the multinational industry and the government is understandable; despite constraints and barriers to market entry, Taiwan remains a lucrative market, among the top 25 in the world in value terms, and over 75% of the market is still supplied by imports. The USA holds a significant share of imports with just over a third of the total in 201 3 , followed by Japan and other suppliers from the EU.

Headline Industry Forecasts

  • In USD dollar terms, the market is expected to rise by a CAGR of 8.6% during the 2013-2018 period, with performance ranging from 5.4% for diagnostic imaging to 11.1% for orthopaedics & prosthetics. Overall, this will see the market rise from an estimated USD1,800.8mn in 2013 to USD2,718.6mn in 2018. In per capita terms, spending will rise from USD77 in 2013 to USD115 in 2018.

  • Medical device imports grew by 5.2% to reach a new high of USD1,405.3mn in 2013. In CAGR terms, growth was 6.9% in the 2008-2013 period, with positive growth reported for all years. In local currency terms, imports grew by 5.6% during the year to TWD41,733.5mn in 2013. Growth was also positive in all years from 2008-2013, with a slightly slower CAGR of 5.6% during the period in question. Based on latest collated monthly data, imports to year ending December 2014 grew by 2.6% to reach USD1,441.8mn.

  • Exports grew by 1.4% in 2013 to reach USD790.2mn. Imports have grown steadily each year from 2009-2013, and the CAGR from 2008-2013 was 4.7%. In local currency terms, exports achieved an annual growth of 1.8% to TWD23,466.3mn in 2013. In the 2009-2013 period, exports fell by 3.7% in 2009 and 0.9% in 2011, but had positive growth in 2010, 2012 and 2013. The CAGR of the 2008-2013 period was 3.4%. Based on latest collated monthly data to year ending December 2014, exports reached a total USD844.5mn.

  • According to latest annual figures from the Ministry of Economic Affairs (MOEA), Taiwan's medical device...

Table of Contents

BMI Industry View
7
SWOT
10
Medical Device Market
10
Political
11
Economic
12
Operational Risk
13
Industry Forecast
15
Medical Device Market Forecast
15
Table: Projected Medical Device Market, 2013-2018
17
Table: Detailed Medical Device Market By Product Area, 2008-2018 (USDmn)
18
Consumables Market Forecast
21
Bandages & Dressings
21
Suturing Materials
22
Syringes, Needles & Catheters
22
Other Consumables
22
Table: Consumables Market, 2008-2018 (USDmn)
22
Table: Consumables Market, 2009-2018 (USDmn % Change)
23
Diagnostic Imaging Market Forecast
25
Electrodiagnostic Apparatus
25
Radiation Apparatus
25
Imaging Parts & Accessories
25
Table: Diagnostic Imaging Market, 2008-2018 (USDmn)
26
Table: Diagnostic Imaging Market, 2009-2018 (USDmn % Change)
27
Dental Products Market Forecast
28
Capital Equipment
28
Instruments & Supplies
29
Table: Dental Products Market, 2008-2018 (USDmn)
29
Table: Dental Products Market, 2009-2018 (USDmn % Change)
30
Orthopaedics & Prosthetics Market Forecast
31
Fixation Devices
31
Artificial Joints
32
Other Artificial Body Parts
32
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USDmn)
32
Table: Orthopaedics & Prosthetics Market, 2009-2018 (USDmn % Change)
33
Patient Aids Market Forecast
34
Portable Aids
34
Therapeutic Appliances
34
Table: Patient Aids Market, 2008-2018 (USDmn)
34
Table: Patient Aids Market, 2009-2018 (USDmn % Change)
35
Other Medical Devices Market Forecast
36
Table: Other Medical Devices Market, 2008-2018 (USDmn)
37
Table: Other Medical Devices Market, 2009-2018 (USDmn % Change)
38
Annual Medical Device Imports
40
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
43
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s % Change)
44
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
45
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s % Change)
46
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
47
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
48
Table: Detailed Medical Device Import Trends By Product Area, 2013
52
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
55
Monthly Medical Device Imports
59
Table: Monthly Medical Device Imports By Product Area, December 2011-December 2014 (USDmn)
59
Annual Medical Device Exports
61
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
63
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s % Change)
64
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
65
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s % Change)
66
Table: Top 20 Medical Device Destinations, 2013 (USD000s)
68
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
69
Table: Detailed Medical Device Export Trends By Product Area, 2013
73
Table: Detailed Leading Medical Device Destinations By Product Area, 2013 (USD000s)
77
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
80
Monthly Medical Device Exports
83
Table: Monthly Medical Device Exports By Product Area, December 2011-December 2014 (USDmn)
83
Macroeconomic Forecasts
85
Economic Analysis
85
Table: Economic Activity (Taiwan 2010-2019)
88
Industry Risk/Reward Index
89
Industry Risk Reward Index
89
Table: APAC Medical Device Risk/Reward Index, Q315
90
Market Overview
91
Medical Device Market Overview
91
Table: Medical Device Market, Key Ratios, 2013
92
Table: Medical Device Market By Product Area, 2013
92
Healthcare Overview
93
Health Status
93
Healthcare System
93
National Health Insurance Administration
94
Health Funding
96
Healthcare Resources
97
Healthcare Activity
97
Healthcare Personnel
98
Key Healthcare Data
98
Table: Key Healthcare Data 2009-2014
98
Industry Trends And Developments
101
Industry Trends & Developments
101
Regulatory Development
107
Medical Device Regulations
107
Competent Authority
107
Regulations
107
Medical Device Pricing & Reimbursement
112
Competent Authority
112
Pricing
113
Reimbursement
114
Competitive Landscape
115
Domestic Medical Device Production
115
Overview
115
Table: Manufacturers of Pharmaceuticals and Medical Devices, 2005-2013
115
Production Value Estimates
116
Table: Domestic Medical Device Production, 2008-2012 (TWDmn)
116
Table: Domestic Medical Device Production, 2008-2012 (USDmn)
117
Research & Development
118
National Medical Device Manufacturers
119
Table: Selected Medical Equipment Manufacturers
119
Multinational Medical Device Manufacturers
123
Multinational Market Activity
125
Table: Multinational Market Activity, 2015
125
Medical Device Market Access
126
Distribution
126
Free Economic Zones
126
Trade Association
128
Methodology
129
Forecast Methodology
129
Trade Code Classifications
130
Table: Used HS Trade Codes
130
Table: Rearranged HS Trade Codes
132
Risk/Reward Index Methodology
135
Table: Medical Devices Risk/Reward Index Indicators
136
Sources
138
Contact
139

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.

Key Benefits

  • 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.

Coverage

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

SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.

Industry Forecasts

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.

Macroeconomic Forecasts

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.

Market Overview

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.

Regulatory developments

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.

Competitive Landscape

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.

Methodology

Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc