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
We maintain our forecasts and project that the market will register a 2015-2020 CAGR of 6.4% in local currency terms and 6.6% in US dollar terms. This will take the market to TWD77.7bn (USD2.5bn) in 2020.
We anticipate an improved import performance in 2017 on the back of higher economic growth and a strengthening in the Taiwan dollar . Imports rose by 3.8% y-o-y to USD392.5mn in Q316, and increased by 0.3% to USD1.5bn for the 12 months ending September 2016.
We expect the steady growth experienced in 2016 to continue into 2017, with exports maintaining their resilience to external headwinds. Exports rose by 6.7% y-o-y to USD229.0mn in Q316 and by 4.2% to USD900.7mn for the 12 months ending September 2016.
Taiwan's medical device manufacturing sector will seek to establish closer trade and investment ties with its regional neighbours, as the country strives to alleviate the isolationism stemming from its frosty relations with China. Its New Southbound Policy will promote regional integration with South East and South Asian countries, as well as Australia and New Zealand to boost the scope and diversity of the national's export economy.
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.