Taiwan pharmaceutical market outlook 2013 - Report Corner

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Taiwan Pharmaceutical Market Outlook 2013

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Brief SummaryBrief Summary
Taiwan’s Pharmaceutical Market Expected to Reach $5.5 Billion by
2018
Taiwan’s healthcare is driven by a single-payer global budget
system run by the Bureau of National Health Insurance (BNHI).
National health expenditure stood at TWD 910.2 billion ($30.9
billion) in 2011 and will grow at a rate of 2.2% to reach TWD 937.6
billion ($31.6 billion) in 2012. Taiwan’s pharmaceutical market was
worth $4.4 billion in 2012, having grown at a Compound Annual
Growth 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 of
growth in the forecast period are:

• The provision of incentives for the biotech sector in the form of
investment 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 introduced
second-generation National Health Insurance (NHI), which is
expected to improve pricing and regulatory policies. Research
alliances with academic institutions and public-private
partnerships are expected to boost research in new drug
development, with several projects already underway and
products already in late-stage clinical trials.
• The improving cross-straits relations with the People’s Republic
of China (PRC) are expected to drive the market demand for drugs
in common diseases.

Trade relations improved with the recent signing of the Economic
Cooperation Framework Agreement, and the Cross-Strait
Cooperation Agreement on Medicine and Public Health Affairs
was signed especially to promote cooperation in medicine
development and disease prevention. Taiwan could prove to be
the launch pad for new drugs to gain access into the much larger
Chinese market.
• An aging population, the rising prevalence of lifestyle disease
and the increasing demand for new technologies in medicine are
expected to drive market growth. The demand for new drugs in
oncology and liver cancer is expected to increase, and circulatory
and genitourinary diseases are other key therapeutic areas with
growth potential.
Major Structural Changes and Government Policies Expected to
Address Industry Concerns and Challenges

Taiwan is expected to address the major challenges faced by the
pharmaceutical market, especially by overseas investors, in the
coming two to three years, providing encouragement for more
investment in the sector.
• Strict drug pricing controls to be achieved by setting Drug
Expenditure Targets
After seven rounds of pricing adjustments, which were achieved
through Price-Volume Surveys (PVS), by 2011, drug prices in
Taiwan were the lowest among the developed markets, with the
average price of original drugs at just 28% of the US average. To
address this challenge, the new second-generation NHI law of
2011 proposed setting an annual Drug Expenditure Target (DET)
based on the historical data of actual drug expenditures and
negotiations with the pharmaceutical industry.

However, another challenge in drug pricing remains: generic
drugs prices are as high as originator drug prices due to a policy
of grouping similar products. This discourages original R&D
companies from the market. Generic drug prices are much higher
than in other countries, at 80–100% of the price of originator
drugs.
• Provider price-reimbursement gap to be addressed by
separating dispensing from prescribing
Hospitals and clinics in Taiwan have the authority to both
prescribe and dispense medication, and hence the price paid to
the manufacturer is often different from the price reimbursed,
inducing a price gap and affecting the profits of mainly originator
companies.
• Challenges in intellectual property rights protection still persist

Although the government’s Intellectual Property Rights (IPR)
policies are being reviewed, major issues still persist, deterring
the international community from investing in the sector. One
major challenge is that many patent-infringing drugs are being
approved and included in the reimbursement list.

Table of ContentsTable of Contents
1 Table of Contents
1 Table of Contents 5
1.1 List of Tables 7
1.2 List of Figures 9
2 Taiwan Pharmaceutical Market Outlook 2013 – Introduction 11
2.1 Taiwan Pharmaceutical Market 11
3 Taiwan Pharmaceutical Market Outlook 2013 – Investment Environment 12
3.1 Government and Political Environment 12
3.2 Taiwan Economic Outlook 12
3.3 Foreign Trade and Investment 14
3.4 Investment Incentives – Government Boosting the Biotech Sector 16
3.4.1 Act for the Development of Biotech and New Pharmaceuticals Industry (2007) 16
3.4.2 Diamond Action Plan for Biotechnology Takeoff (2009) 16
3.5 International Appraisal and Membership 17
3.5.1 Patent Prosecution Highway Pilot program 17

3.5.2 Pharmaceutical Inspection Convention and Inspection Cooperation Scheme 17
4 Taiwan Pharmaceutical Market Outlook 2013 – Healthcare System 18
4.1 Healthcare System 18
4.1.1 Department of Health 18
4.1.2 Bureau of National Health Insurance 19
4.1.3 Health Insurance Coverage 20
4.1.4 Health Insurance System Challenges 22
4.1.5 Health Policy Initiatives 23
4.2 Healthcare Expenditure 24
4.2.1 Healthcare Spending 24
4.2.2 Healthcare Expenditure by Type of Service 27
4.2.3 Healthcare Expenditure on Pharmaceutical Products 28
4.2.4 Public Health Expenditure 30
4.3 Healthcare Infrastructure 32
4.3.1 Healthcare Facilities 32

4.3.2 Healthcare Coverage 33
4.3.3 Healthcare Personnel 35
4.4 Population Health 39
4.4.1 Demographics 39
4.4.2 Life Expectancy 41
4.4.3 Mortality 43
5 Taiwan Pharmaceutical Market Outlook 2013 – Regulatory Landscape 45
5.1 Drug Pricing and Reimbursement 45
5.1.1 Drug Reimbursement 45
5.1.2 Pricing Policies 45
5.1.3 Pricing Trends 47
5.1.4 Challenges in the Reimbursement Process 48
5.1.5 Drug Expenditure Target 49
5.2 Policy and Regulatory Environment in Taiwan 49
5.2.1 New Drug Approval 49

5.2.2 Intellectual Property Rights 50
6 Taiwan Pharmaceutical Market Outlook 2013 – Market Overview 52
6.1 Pharmaceutical Market Overview 52
6.2 Pharmaceutical Market Size 53
6.3 Market Segments 54
6.4 Key Therapeutic Areas 58
6.4.1 Respiratory Diseases 61
6.4.2 Digestive Diseases 64
6.4.3 Genitourinary Diseases 67
6.4.4 Circulatory Diseases 69
6.4.5 Malignant Neoplasms 72
6.5 Emerging Areas 77
6.5.1 Orphan Drugs 77
6.6 Drug Distribution and Pharmaceutical Supply Chain 78
6.7 Spending in Pharmaceutical R&D 79

7 Taiwan Pharmaceutical Market Outlook 2013 – Competitive Landscape 80
7.1 Key Foreign Entities 80
7.1.1 Pfizer 80
7.1.2 Sanofi 85
7.1.3 Novartis 89
7.1.4 GlaxoSmithKline 94
7.2 Key Domestic Players 100
7.2.1 The China Chemical & Pharmaceutical Company 100
7.2.2 Standard Chemicals & Pharmaceuticals Co. Ltd. 103
7.2.3 Yung Shin Pharmaceutical. Ind. Co. Ltd. 106
7.2.4 ScinoPharm Taiwan 109
7.2.5 TTY Biopharm Company Limited 114
8 Taiwan Pharmaceutical Market Outlook 2013 – Market Dynamics 117
8.1 Industry Drivers and Opportunities 117
8.2 Barriers to Entry 117

8.3 Recent Industry Activity and Consolidation 118
9 Taiwan Pharmaceutical Market Outlook 2013 – the Way Forward 119
9.1 Key Insights 119
9.2 Market Opportunities 119
9.3 Future Market Outlook 120
10 Taiwan Pharmaceutical Market Outlook 2013 – Appendix 121
10.1 Market Definitions 121
10.2 Abbreviations 121
10.3 Bibliography 123
10.4 Research Methodology 126
10.4.1 Coverage 127
10.4.2 Secondary Research 127
10.4.3 Primary Research 127
10.4.4 Expert Panel Validation 128
10.5 Contact Us 128

10.6 Disclaimer 128

For more informationFor more information
For more information please visit our website
https://www.reportscorner.com/reports/21651/Taiwan-Pharmaceutical-Market-
Outlook-2013/

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Taiwan pharmaceutical market outlook 2013 - Report Corner

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Taiwan pharmaceutical market outlook 2013 - Report Corner