REFERENCE CODE GDHC0062CHR | PUBLICATION DATE JUNE 2014
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF
CHINA (TAIWAN)
Healthcare, Regulatory and Reimbursement Landscape – Republic of China (Taiwan) 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
Executive Summary
Taiwan’s increasing elderly population and declining birth rate pose a demographic challenge for its government. Good access to health insurance, a growing healthcare burden and government initiatives are expected to drive market growth, although periodic price cuts present a major challenge.
In 2013, the number of people above the age of XX
years accounted for XX% of Taiwan’s total
population (NDC, 2013b). This is increasing
significantly and given the association between
elderly populations and increased prevalence of all
kinds of disease, it is associated with a growing
disease burden for Taiwan’s healthcare system.
Medical expenditure for chronic diseases has also
increased, although the government is attempting
to reduce the financial burden this presents
through comprehensive healthcare reforms. The
overall population increased slightly between 2008
and 2013 from XX to XX million, mainly due to a
rising life expectancy. However, the birth rate
decreased at a negative Compound Annual
Growth Rate (CAGR) of XX% between 2008 and
2013 (National Statistics R.O.C., 2012; NDC,
2013b).
In 2013, although Taiwan’s pharmaceutical market
was smaller compared to Japan’s, China’s, India’s
and South Korea’s, totaling $XX billion, its per-
capita expenditure on medicines was significantly
higher, being $XX in 2013. The pharmaceutical
market grew at a CAGR of XX% from 2008 to
2013. The Taiwanese government is taking various
steps to ensure investment and growth in the
pharmaceutical industry. In line with the Act for the
Development of Biotech and New Pharmaceuticals
Industry introduced in 2007, the Taiwanese
government provides incentives for new
pharmaceutical companies to establish themselves
in Taiwan, such as a reduction in income tax.
However, the country’s Global Budget Payment
System was implemented in 2002, following which
the price of National Health Insurance (NHI)-
funded drugs reduced seven times, impacting both
domestic companies and their foreign
counterparts. The Office of the US Trade
Representative estimates that on average,
pharmaceutical prices in Taiwan are XX% of the
price of the equivalent product in the US (USTR,
2013). The continual price cuts are a major
challenge for the growth of the pharmaceutical
market.
Pharmaceutical Market, Republic of China (Taiwan), Revenue ($bn), 2008–2020
2008 2013* 2015 2020
Rev
enue
($bn
)
CAGR (2008–2020): XX%
Source: Chen, 2010; MOEAIDB, 2013; Australian Trade Commission, 2013 *Estimated figure
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Table of Contents
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
1 Table of Contents
1 Table of Contents ....................................................................................................................... 5
1.1 List of Tables ...................................................................................................................... 9
1.2 List of Figures ................................................................................................................... 15
2 Introduction ............................................................................................................................... 21
2.1 GlobalData Report Guidance ............................................................................................ 21
3 Overview of the Pharmaceutical and Medical Device Markets .................................................. 22
3.1 Pharmaceutical Market ..................................................................................................... 22
3.1.1 Market Overview ........................................................................................................... 22
3.1.2 Pharmaceutical Exports and Imports ............................................................................. 24
3.1.3 Supply Channels ........................................................................................................... 26
3.1.4 Market Segments .......................................................................................................... 26
3.1.5 Overview of Top Five Disease Areas ............................................................................ 30
3.1.6 Major Players ................................................................................................................ 32
3.2 Medical Device Market ...................................................................................................... 69
3.2.1 Market Overview ........................................................................................................... 69
3.2.2 Overview of Top Five Segments.................................................................................... 71
3.2.3 Diagnostic market ......................................................................................................... 84
3.2.4 Major Players ................................................................................................................ 87
3.3 Market Drivers and Barriers ............................................................................................ 117
3.3.1 Drivers......................................................................................................................... 117
3.3.2 Barriers ....................................................................................................................... 118
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
4 Market Access ........................................................................................................................ 120
4.1 Reimbursement and Payer Landscape ........................................................................... 120
4.1.1 Overview of Healthcare System .................................................................................. 120
4.1.2 Reimbursement Process ............................................................................................. 122
4.1.3 Overview of Insurance Providers ................................................................................. 125
4.1.4 Patient Share in Healthcare Spending ......................................................................... 130
4.1.5 Price Trend in Healthcare Services ............................................................................. 132
4.1.6 Pricing Policies ............................................................................................................ 133
4.2 Regulatory Landscape .................................................................................................... 134
4.2.1 Overview of Regulatory Agencies................................................................................ 134
4.2.2 Market Authorization Procedure for Pharmaceutical Products ..................................... 136
4.2.3 Market Authorization Procedure for Medical Devices .................................................. 141
4.2.4 Licensing Process for Pharmaceutical and Medical Device Manufacturing .................. 144
4.2.5 Licensing Process for Pharmaceutical Exports and Imports ........................................ 147
4.2.6 Intellectual Property Rights.......................................................................................... 148
4.2.7 Clinical Trial Regulations ............................................................................................. 151
4.2.8 Pharmaceutical Advertising Regulations ..................................................................... 153
4.2.9 Pharmacy Regulations ................................................................................................ 154
4.2.10 Labeling and Packaging Regulations .......................................................................... 155
5 Country Analysis ..................................................................................................................... 156
5.1 Political Environment....................................................................................................... 156
5.1.1 Political Structure ........................................................................................................ 156
5.1.2 Analysis of the Current Political Environment .............................................................. 157
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5.1.3 Healthcare Policy Initiatives ......................................................................................... 158
5.2 Economic Landscape ...................................................................................................... 159
5.3 Economic Indicators ........................................................................................................ 161
5.3.1 Gross Domestic Product ............................................................................................. 161
5.3.2 National Income per Capita ......................................................................................... 165
5.3.3 Inflation ....................................................................................................................... 166
5.3.4 Currency Exchange Rate ............................................................................................ 170
5.3.5 Foreign Direct Investment ........................................................................................... 172
5.3.6 Foreign Exchange Reserves ....................................................................................... 174
5.3.7 Trade Balance ............................................................................................................. 175
5.3.8 Government Structural Balance................................................................................... 178
5.3.9 General Government Gross Debt ................................................................................ 180
5.3.10 Major Industries ........................................................................................................... 182
5.4 Demographics ................................................................................................................. 184
5.4.1 Population ................................................................................................................... 184
5.4.2 Education and Literacy ................................................................................................ 201
5.4.3 Employment ................................................................................................................ 203
5.4.4 Disease Burden ........................................................................................................... 205
5.5 Healthcare Infrastructure ................................................................................................. 207
5.5.1 Healthcare Facilities .................................................................................................... 207
5.5.2 Healthcare Parameters ............................................................................................... 218
5.5.3 Environmental Health .................................................................................................. 220
5.5.4 Healthcare Personnel .................................................................................................. 225
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
5.6 Healthcare Expenditure ................................................................................................... 229
5.6.1 Overview ..................................................................................................................... 229
5.6.2 Major Components of Healthcare Spending ................................................................ 230
5.6.3 Public and Private Sector Share .................................................................................. 232
5.6.4 Spending in Pharmaceutical R&D ............................................................................... 234
5.7 Trade Associations ......................................................................................................... 235
5.7.1 Taiwan Medical and Biotech Industry Association ....................................................... 235
5.7.2 Taiwan Public Health Association................................................................................ 235
5.7.3 Taiwan Medical Association ........................................................................................ 235
5.7.4 Taiwan Generic Pharmaceutical Association ............................................................... 235
5.8 Trade Fairs ..................................................................................................................... 236
6 Opportunities and Challenges ................................................................................................. 237
6.1 Opportunities .................................................................................................................. 237
6.2 Challenges ...................................................................................................................... 238
7 Appendix................................................................................................................................. 240
7.1 Abbreviations .................................................................................................................. 240
7.2 Bibliography .................................................................................................................... 245
7.3 Research Methodology ................................................................................................... 260
7.3.1 Coverage .................................................................................................................... 260
7.3.2 Secondary Research ................................................................................................... 261
7.3.3 Forecasts .................................................................................................................... 261
7.3.4 Expert Panel................................................................................................................ 261
7.4 Disclaimer ....................................................................................................................... 262
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
1.1 List of Tables
Table 1: Pharmaceutical Market, Republic of China (Taiwan), Revenue ($bn), 2008–2013............................. 23
Table 2: Pharmaceutical Market, Republic of China (Taiwan), Revenue Forecast ($bn), 2014–2020 .............. 24
Table 3: Pharmaceutical Market, Republic of China (Taiwan), Population, Exports and Imports ($m), 2008–
2013............................................................................................................................................ 25
Table 4: Pharmaceutical Device Market, Republic of China (Taiwan), Market Segments of Newly Emerging
Biotech Industry, Share (%), 2009 ............................................................................................... 29
Table 5: Pharmaceutical Device Market, Republic of China (Taiwan), Top Five Therapeutic Areas, Total
Expenditure on Personal Health Care, 2012 ................................................................................ 30
Table 6: Pfizer, Global, Major Products, Revenue ($bn) and Annual Growth (%), 2013 .................................. 33
Table 7: Pharmaceutical Market, Global, Late-Stage Pipeline, Pfizer, 2014 .................................................... 34
Table 8: Sanofi, Global, Major Products, Revenue ($bn) and Annual Growth (%), 2013 ................................. 42
Table 9: Sanofi, Global, Late-Stage Pipeline, 2013 ........................................................................................ 43
Table 10: GlaxoSmithKline, Global, Major Products, Revenue ($bn) and Annual Growth (%), 2013................ 51
Table 11: Pharmaceutical Market, Global, Late-Stage Pipeline, GlaxoSmithKline, 2014 ................................. 52
Table 12: Major Products, China Chemical & Pharmaceutical, 2013............................................................... 64
Table 13: Medical Device Market, Republic of China (Taiwan), Revenue ($bn), 2008–2013 ........................... 70
Table 14: Medical Device Market, Republic of China (Taiwan), Revenue Forecast ($bn), 2014–2020 ............ 71
Table 15: Medical Device Market, Republic of China (Taiwan), Nephrology and Urology Devices Market ($m),
2008–2013 .................................................................................................................................. 73
Table 16: Medical Device Market, Republic of China (Taiwan), Nephrology and Urology Devices Market, Sales
Trend for Major Players, 2012 ..................................................................................................... 74
Table 17: Medical Device Market, Republic of China (Taiwan), Ophthalmic Devices Market ($m), 2008–2013 75
Table 18: Medical Device Market, Republic of China (Taiwan), Ophthalmic Devices Market, Sales Trend for
Major Players, 2012 .................................................................................................................... 76
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Table 19: Medical Device Market, Republic of China (Taiwan), In Vitro Diagnostics Device Market ($m), 2008–
2013............................................................................................................................................ 78
Table 20: Medical Device Market, Republic of China (Taiwan), In Vitro Diagnostics Device Market, Sales Trend
for Major Players, 2012 ............................................................................................................... 79
Table 21: Medical Device Market, Republic of China (Taiwan), Cardiovascular Devices Market ($m), 2008–
2013............................................................................................................................................ 80
Table 22: Medical Device Market, Republic of China (Taiwan), Cardiovascular Devices Market, Sales Trend for
Major Players, 2012 .................................................................................................................... 81
Table 23: Medical Device Market, Republic of China (Taiwan), Orthopedic Device Market, Revenue ($m),
2008–2013 .................................................................................................................................. 83
Table 24: Medical Device Market, Republic of China (Taiwan), Orthopedic Device Market, Sales Trend for
Major Players, 2012 .................................................................................................................... 84
Table 25: Medical Device Market, Republic of China (Taiwan), Diagnostic Market, Revenue ($bn), 2008–2013
................................................................................................................................................... 85
Table 26: Medical Device Market, Republic of China (Taiwan), Diagnostic Market, Revenue Forecast ($bn),
2014–2020 .................................................................................................................................. 86
Table 27: Major Products, Baxter International, Global, Revenue ($m) and Annual Growth (%), 2013 ............ 88
Table 28: Major Products, Fresenius Medical Care, 2013............................................................................... 94
Table 29: Medtronic, Global, Major Products Classes, 2014 ......................................................................... 111
Table 30: Healthcare System, Republic of China (Taiwan), NHI Premium Formulas, 2014 ........................... 128
Table 31: Healthcare System, Republic of China (Taiwan), Basic Outpatient Care Co-payments, 2014 ........ 129
Table 32: Healthcare System, Republic of China (Taiwan), Basic Outpatient Care Co-payments, 2014 ........ 130
Table 33: Healthcare Spending, Republic of China (Taiwan), Out-of-Pocket Expenditure as Share of Total
Healthcare Expenditure (%), 2008–2013 ................................................................................... 131
Table 34: Price of Prescription Drugs, Republic of China (Taiwan), Medical Care Services Price Trend (%),
2008–2013 ................................................................................................................................ 133
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Table 35: Healthcare System, Republic of China (Taiwan), Registration Fee Structure for New Drug
Application ($), 2012 ................................................................................................................. 140
Table 36: Healthcare System, Republic of China (Taiwan), Regulatory Requirements for Medical Devices,
2013.......................................................................................................................................... 141
Table 37: Market Access, Republic of China (Taiwan), Trademark Fees ($), 2014 ....................................... 149
Table 38: Market Access, Republic of China (Taiwan), Trademark Fees, 2012............................................. 151
Table 39: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product per Capita ($), 2008–
2013.......................................................................................................................................... 162
Table 40: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product per Capita Forecast ($),
2014–2020 ................................................................................................................................ 162
Table 41: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product Annual Growth (%),
2008–2013 ................................................................................................................................ 164
Table 42: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product Annual Growth Forecast
(%), 2014–2020 ......................................................................................................................... 165
Table 43: Economic Indicators, Republic of China (Taiwan), National Income per Capita ($), 2008–2013..... 166
Table 44: Economic Indicators, Republic of China (Taiwan), Average Consumer Price Index, 2008–2013.... 167
Table 45: Economic Indicators, Republic of China (Taiwan), Average Consumer Price Index Forecast, 2014–
2020.......................................................................................................................................... 168
Table 46: Economic Indicators, Republic of China (Taiwan), Average Consumer Price Annual Change (%),
2008–2013 ................................................................................................................................ 170
Table 47: Economic Indicators, Republic of China (Taiwan), Currency Exchange Rate (TWD/$), 2008–2013
................................................................................................................................................. 171
Table 48: Economic Indicators, Republic of China (Taiwan), Foreign Direct Investment ($bn), 2008–2013 ... 173
Table 49: Economic Indicators, Republic of China (Taiwan), Foreign Exchange Reserves ($bn), 2008–2013
................................................................................................................................................. 175
Table 50: Economic Indicators, Republic of China (Taiwan), Imports of Goods and Services ($bn), 2008–2013
................................................................................................................................................. 176
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Table 51: Economic Indicators, Republic of China (Taiwan), Exports of Goods and Services ($bn), 2008–2013
................................................................................................................................................. 178
Table 52: Economic Indicators, Republic of China (Taiwan), Government Structural Balance ($bn), 2008–2013
................................................................................................................................................. 179
Table 53: Economic Indicators, Republic of China (Taiwan), General Government Gross Debt (% of GDP),
2008–2013 ................................................................................................................................ 180
Table 54: Economic Indicators, Republic of China (Taiwan), General Government Gross Debt Forecast (% of
GDP), 2014–2020 ..................................................................................................................... 181
Table 55: Economic Indicators, Republic of China (Taiwan), Major Industries, Gross Domestic Product by
Industry ($bn), 2012 .................................................................................................................. 183
Table 56: Demographics, Republic of China (Taiwan), Population (million), 2008–2013 ............................... 185
Table 57: Demographics, Republic of China (Taiwan), Population Forecast (million), 2014–2020 ................. 186
Table 58: Demographics, Republic of China (Taiwan), Urban–Rural Population (%), 2008–2013 ................. 187
Table 59: Demographics, Republic of China (Taiwan), Population Distribution by Age Group (%), 2008–2013
................................................................................................................................................. 189
Table 60: Demographics, Republic of China (Taiwan), Population Distribution by Age Group Forecast (%),
2014–2020 ................................................................................................................................ 189
Table 61: Demographics, Republic of China (Taiwan), Births (per 1,000 Population), 2008–2013 ................ 191
Table 62: Demographics, Republic of China (Taiwan), Mortality (per 1,000 Population), 2008–2013 ............ 192
Table 63: Demographics, Republic of China (Taiwan), Major Causes of Mortality (per 100,000 Population),
2012.......................................................................................................................................... 194
Table 64: Demographics, Republic of China (Taiwan), Children <5 Years Age, Infant Mortality Rate (per 1,000
Live Births), 2008–2013 ............................................................................................................. 196
Table 65: Demographics, Republic of China (Taiwan), Immunization Rate (%), 2012 ................................... 197
Table 66: Demographics, Republic of China (Taiwan), Gender Ratio (M/F), 2008–2013 ............................... 199
Table 67: Demographics, Republic of China (Taiwan), Life Expectancy at Birth (Years), 2008–2013 ............ 201
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Table 68: Demographics, Republic of China (Taiwan), Student Net Enrollment by Level of Education (%), 2013
................................................................................................................................................. 203
Table 69: Demographics, Republic of China (Taiwan), Unemployment Rate (%), 2008–2013 ....................... 204
Table 70: Demographics, Republic of China (Taiwan), Employment by Sector (%), 2012 ............................. 205
Table 71: Demographics, Republic of China (Taiwan), Personal Health Expenditure by Disease (%), 2012 .. 206
Table 72: Demographics, Republic of China (Taiwan), Male Personal Health Expenditure per Capita by
Disease ($), 2012 ...................................................................................................................... 206
Table 73: Demographics, Republic of China (Taiwan), Female Personal Health Expenditure per Capita by
Diseases ($), 2012 .................................................................................................................... 207
Table 74: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals, 2008–2013 ............................... 208
Table 75: Healthcare Infrastructure, Republic of China (Taiwan), Public and Private Hospitals, 2008–2013 .. 210
Table 76: Healthcare Infrastructure, Republic of China (Taiwan), Public Hospitals, Share by Ownership and
Number of Facilities, 2012 ......................................................................................................... 210
Table 77: Healthcare Infrastructure, Republic of China (Taiwan), Private Hospitals, Share by Ownership and
Number of Facilities, 2012 ......................................................................................................... 211
Table 78: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals by Standard of Care, Contracted by
NHIA, 2008–2013 ...................................................................................................................... 212
Table 79: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals by Services Rendered, 2012 ..... 213
Table 80: Healthcare Infrastructure, Republic of China (Taiwan), Beds by Type of Hospital, 2008–2013 ...... 215
Table 81: Healthcare Infrastructure, Republic of China (Taiwan), Beds by Specialty, 2012 ........................... 216
Table 82: Healthcare Infrastructure, Republic of China (Taiwan), Diagnostic Units, 2008–2013 .................... 217
Table 83: Healthcare Infrastructure, Republic of China (Taiwan), Hospital Beds (per 1,000 Population), 2008–
2013.......................................................................................................................................... 219
Table 84: Healthcare Infrastructure, Republic of China (Taiwan), Doctors (per 1,000 Population), 2008–2013
................................................................................................................................................. 220
Table 85: Healthcare Infrastructure, Republic of China (Taiwan), PM10 (µg/m3), 2008–2013 ....................... 222
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Table 86: Healthcare Infrastructure, Republic of China (Taiwan), CO2 Emissions (million tons), 2008–2013 . 224
Table 87: Healthcare Infrastructure, Republic of China (Taiwan), Nurses (per 1,000 Population), 2008–2013
................................................................................................................................................. 226
Table 88: Healthcare Infrastructure, Republic of China (Taiwan), Pharmacists (per 1,000 Population), 2008–
2013.......................................................................................................................................... 227
Table 89: Healthcare Infrastructure, Republic of China (Taiwan), Dentists (per 1,000 Population), 2008–2013
................................................................................................................................................. 228
Table 90: Healthcare Expenditure, Republic of China (Taiwan), Healthcare Expenditure (% of GDP), 2008–
2013.......................................................................................................................................... 230
Table 91: Healthcare Expenditure, Republic of China (Taiwan), Primary Healthcare Expenditure, Current
Health Expenditure by Provider (%), 2011 ................................................................................. 231
Table 92: Healthcare Expenditure, Republic of China (Taiwan), Primary Healthcare Expenditure, Current
Health Expenditure by Mode of Production (%), 2011 ................................................................ 232
Table 93: Healthcare Expenditure, Republic of China (Taiwan), Healthcare Expenditure, Public–Private Share
(%), 2008–2013 ......................................................................................................................... 233
Table 94: Healthcare Expenditure, Republic of China (Taiwan), Pharmaceutical R&D Expenditure, 2008–2013
................................................................................................................................................. 234
Table 95: Healthcare Expenditure, Republic of China (Taiwan), Major Healthcare Trade Fairs, 2014 ........... 236
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
1.2 List of Figures
Figure 1: Pharmaceutical Market, Republic of China (Taiwan), Revenue ($bn), 2008–2013 ........................... 23
Figure 2: Pharmaceutical Market, Republic of China (Taiwan), Revenue Forecast ($bn), 2014–2020 ............. 24
Figure 3: Pharmaceutical Market, Republic of China (Taiwan), Population, Exports and Imports ($m), 2008–
2013............................................................................................................................................ 25
Figure 4: Pharmaceutical Market, Republic of China (Taiwan), Market Segments of Newly Emerging Biotech
Industry, Share (%), 2009 ............................................................................................................ 29
Figure 5: Medical Device Market, Republic of China (Taiwan), Revenue ($bn), 2008–2013 ............................ 70
Figure 6: Medical Device Market, Republic of China (Taiwan), Revenue Forecast ($bn), 2014–2020 ............. 71
Figure 7: Medical Device Market, Republic of China (Taiwan), Nephrology and Urology Devices Market ($m),
2008–2013 .................................................................................................................................. 72
Figure 8: Medical Device Market, Republic of China (Taiwan), Nephrology and Urology Devices Market, Sales
Trend for Major Players, Revenue* ($m), 2008–2012 .................................................................. 73
Figure 9: Medical Device Market, Republic of China (Taiwan), Ophthalmic Devices Market ($m), 2008–2013 75
Figure 10: Medical Device Market, Republic of China (Taiwan), Ophthalmic Devices Market, Sales Trend for
Major Players, Revenue ($m), 2008–2012 ................................................................................... 76
Figure 11: Medical Device Market, Republic of China (Taiwan), In Vitro Diagnostics Device Market ($m), 2008–
2013............................................................................................................................................ 77
Figure 12: Medical Device Market, Republic of China (Taiwan), In Vitro Diagnostics Device Market, Sales
Trend for Major Players, Revenue ($m), 2008–2012 .................................................................... 78
Figure 13: Medical Device Market, Republic of China (Taiwan), Cardiovascular Devices Market ($m), 2008–
2013............................................................................................................................................ 80
Figure 14: Medical Device Market, Republic of China (Taiwan), Cardiovascular Devices Market, Sales Trend
for Major Players, Revenue ($m), 2008–2012 .............................................................................. 81
Figure 15: Medical Device Market, Republic of China (Taiwan), Orthopedic Device Market, Revenue ($m),
2008–2013 .................................................................................................................................. 82
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Figure 16: Medical Device Market, Republic of China (Taiwan), Orthopedic Device Market, Sales Trend for
Major Players, Revenue ($m), 2008–2012 ................................................................................... 83
Figure 17: Medical Device Market, Republic of China (Taiwan), Diagnostic Market, Revenue ($bn), 2008–2013
................................................................................................................................................... 85
Figure 18: Medical Device Market, Republic of China (Taiwan), Diagnostic Market, Revenue Forecast ($bn),
2014–2020 .................................................................................................................................. 86
Figure 19: Healthcare Market, Republic of China (Taiwan), Drivers and Barriers, 2013 ................................ 119
Figure 20: Healthcare System, Republic of China (Taiwan), Financial Flow in the Healthcare System, 2013 121
Figure 21: Healthcare System, Republic of China (Taiwan), Evolution of the Healthcare System, 1950–2013
................................................................................................................................................. 122
Figure 22: Healthcare System, Republic of China (Taiwan), Reimbursement Process, 2008 ........................ 124
Figure 23: Market Access, Republic of China (Taiwan), Process for Coverage and Reimbursement of Medical
Devices, 2014 ........................................................................................................................... 125
Figure 24: Healthcare System, Republic of China (Taiwan), Premium Collection under Second-Generation NHI
System, 2014 ............................................................................................................................ 128
Figure 25: Healthcare Spending, Republic of China (Taiwan), Out-of-Pocket Expenditure as Share of Total
Healthcare Expenditure (%), 2008–2013 ................................................................................... 131
Figure 26: Price of Prescription Drugs, Republic of China (Taiwan), Medical Care Services Price Trend (%),
2008–2013 ................................................................................................................................ 133
Figure 27: Market Access, Republic of China (Taiwan), Organization Structure of CDE, 2014 ...................... 136
Figure 28: Market Access, Republic of China (Taiwan), Marketing Authorization Procedure for New Drugs,
2014.......................................................................................................................................... 138
Figure 29: Market Access, Republic of China (Taiwan), New Drug Evaluation Process, 2013 ....................... 139
Figure 30: Market Access, Republic of China (Taiwan), HTA Process for New Drug Listing Application with the
NHIA, 2013 ............................................................................................................................... 140
Figure 31: Market Access, Republic of China (Taiwan), Marketing Authorization Procedure for Medical
Devices, 2013 ........................................................................................................................... 144
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Figure 32: Market Access, Republic of China (Taiwan), Clinical Trial Regulation Process for an IND, 2013 .. 153
Figure 33: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product per Capita ($), 2008–
2013.......................................................................................................................................... 161
Figure 34: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product per Capita Forecast ($),
2014–2020 ................................................................................................................................ 162
Figure 35: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product Annual Growth (%),
2008–2013 ................................................................................................................................ 163
Figure 36: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product Annual Growth Forecast
(%), 2014–2020 ......................................................................................................................... 164
Figure 37: Economic Indicators, Republic of China (Taiwan), National Income per Capita ($), 2008–2013 ... 165
Figure 38: Economic Indicators, Republic of China (Taiwan), Average Consumer Price Index, 2008–2013 .. 167
Figure 39: Economic Indicators, Republic of China (Taiwan), Average Consumer Price Index Forecast, 2014–
2020.......................................................................................................................................... 168
Figure 40: Economic Indicators, Republic of China (Taiwan), Average Consumer Price Annual Change (%),
2008–2013 ................................................................................................................................ 169
Figure 41: Economic Indicators, Republic of China (Taiwan), Currency Exchange Rate (TWD/$), 2008–2013
................................................................................................................................................. 171
Figure 42: Economic Indicators, Republic of China (Taiwan), Foreign Direct Investment ($bn), 2008–2013 .. 173
Figure 43: Economic Indicators, Republic of China (Taiwan), Foreign Exchange Reserves ($bn), 2008–2013
................................................................................................................................................. 174
Figure 44: Economic Indicators, Republic of China (Taiwan), Imports of Goods and Services ($bn), 2008–2013
................................................................................................................................................. 176
Figure 45: Economic Indicators, Republic of China (Taiwan), Exports of Goods and Services ($bn), 2008–2013
................................................................................................................................................. 177
Figure 46: Economic Indicators, Republic of China (Taiwan), Government Structural Balance ($bn), 2008–
2013.......................................................................................................................................... 179
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Figure 47: Economic Indicators, Republic of China (Taiwan), General Government Gross Debt (% of GDP),
2008–2013 ................................................................................................................................ 180
Figure 48: Economic Indicators, Republic of China (Taiwan), General Government Gross Debt Forecast (% of
GDP), 2014–2020 ..................................................................................................................... 181
Figure 49: Economic Indicators, Republic of China (Taiwan), Major Industries, Gross Domestic Product by
Industry ($bn), 2012 .................................................................................................................. 183
Figure 50: Demographics, Republic of China (Taiwan), Population (million), 2008–2013 .............................. 185
Figure 51: Demographics, Republic of China (Taiwan), Population Forecast (million), 2014–2020 ............... 186
Figure 52: Demographics, Republic of China (Taiwan), Urban–Rural Population (%), 2008–2013 ................ 187
Figure 53: Demographics, Republic of China (Taiwan), Population Distribution by Age Group (%), 2008–2013
................................................................................................................................................. 188
Figure 54: Demographics, Republic of China (Taiwan), Population Distribution by Age Group Forecast (%),
2014–2020 ................................................................................................................................ 189
Figure 55: Demographics, Republic of China (Taiwan), Births (per 1,000 Population), 2008–2013 ............... 191
Figure 56: Demographics, Republic of China (Taiwan), Mortality (per 1,000 Population), 2008–2013 ........... 192
Figure 57: Demographics, Republic of China (Taiwan), Major Causes of Mortality (per 100,000 Population),
2012.......................................................................................................................................... 194
Figure 58: Demographics, Republic of China (Taiwan), Children <5 Years Age, Infant Mortality Rate (per 1,000
Live Births), 2008–2013 ............................................................................................................. 195
Figure 59: Demographics, Republic of China (Taiwan), Immunization Rate (%), 2012 .................................. 197
Figure 60: Demographics, Republic of China (Taiwan), Gender Ratio (M/F), 2008–2013.............................. 199
Figure 61: Demographics, Republic of China (Taiwan), Life Expectancy at Birth (Years), 2008–2013 ........... 200
Figure 62: Demographics, Republic of China (Taiwan), Student Net Enrollment by Level of Education (%),
2013.......................................................................................................................................... 202
Figure 63: Demographics, Republic of China (Taiwan), Unemployment Rate (%), 2008–2013 ..................... 204
Figure 64: Demographics, Republic of China (Taiwan), Personal Health Expenditure by Disease (%), 2012 205
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
Figure 65: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals, 2008–2013 ............................. 208
Figure 66: Healthcare Infrastructure, Republic of China (Taiwan), Public and Private Hospitals, 2008–2013 209
Figure 67: Healthcare Infrastructure, Republic of China (Taiwan), Public Hospitals, Share by Ownership (%),
2012.......................................................................................................................................... 210
Figure 68: Healthcare Infrastructure, Republic of China (Taiwan), Private Hospitals, Share by Ownership (%),
2012.......................................................................................................................................... 211
Figure 69: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals by Standard of Care, Contracted
by NHIA, 2008–2013 ................................................................................................................. 212
Figure 70: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals by Services Rendered (%), 2012
................................................................................................................................................. 213
Figure 71: Healthcare Infrastructure, Republic of China (Taiwan), Beds by Type of Hospital, 2008–2013 ..... 214
Figure 72: Healthcare Infrastructure, Republic of China (Taiwan), Beds by Specialty, 2012 .......................... 215
Figure 73: Healthcare Infrastructure, Republic of China (Taiwan), Diagnostic Units, 2008–2013 ................... 217
Figure 74: Healthcare Infrastructure, Republic of China (Taiwan), Hospital Beds (per 1,000 Population), 2008–
2013.......................................................................................................................................... 218
Figure 75: Healthcare Infrastructure, Republic of China (Taiwan), Doctors (per 1,000 Population), 2008–2013
................................................................................................................................................. 219
Figure 76: Healthcare Infrastructure, Republic of China (Taiwan), PM10 (µg/m3), 2008–2013 ...................... 222
Figure 77: Healthcare Infrastructure, Republic of China (Taiwan), CO2 emissions (million tons), 2008–2013 224
Figure 78: Healthcare Infrastructure, Republic of China (Taiwan), Nurses (per 1,000 Population), 2008–2013
................................................................................................................................................. 226
Figure 79: Healthcare Infrastructure, Republic of China (Taiwan), Pharmacists (per 1,000 Population), 2008–
2013.......................................................................................................................................... 227
Figure 80: Healthcare Infrastructure, Republic of China (Taiwan), Dentists (per 1,000 Population), 2008–2013
................................................................................................................................................. 228
Figure 81: Healthcare Expenditure, Republic of China (Taiwan), Healthcare Expenditure (% of GDP), 2008–
2013.......................................................................................................................................... 229
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Figure 82: Healthcare Expenditure, Republic of China (Taiwan), Primary Healthcare Expenditure, Current
Health Expenditure by Provider, Share (%), 2011 ...................................................................... 230
Figure 83: Healthcare Expenditure, Republic of China (Taiwan), Primary Healthcare Expenditure, Current
Health Expenditure by Mode of Production (%), 2011 ................................................................ 231
Figure 84: Healthcare Expenditure, Republic of China (Taiwan), Healthcare Expenditure, Public–Private Share
(%), 2008–2013 ......................................................................................................................... 233
Figure 85: Healthcare Expenditure, Republic of China (Taiwan), Pharmaceutical R&D Expenditure ($m), 2008–
2013.......................................................................................................................................... 234
Figure 86: Healthcare Market, Republic of China (Taiwan), Opportunities and Challenges, 2013 ................. 239
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
Introduction
2 Introduction
2.1 GlobalData Report Guidance
The report begins with an executive summary, which gives an overview of the Republic of
China’s (Taiwan) healthcare market and its key driving factors. It also gives a snapshot of the
demographic, regulatory, and reimbursement landscape and healthcare infrastructure in
Taiwan.
Chapter three provides an overview of Taiwan’s pharmaceutical and medical device markets,
covering market size; the market shares of generic, Over-The-Counter (OTC) and
biologic/biosimilar products; and the key drivers and barriers for the overall market. It also
includes profiles of the major players, as well as SWOT assessments.
Chapter four covers the reimbursement and payer landscape, and includes details of the
reimbursement process, insurance providers, pricing policies and drug price trends in Taiwan.
It also looks at the regulatory landscape, and gives an overview of the regulatory agencies and
approval processes for new drugs and medical devices. Also covered is the licensing process
for the manufacture, export and import of pharmaceuticals; regulations for pharmaceutical
advertising, labeling, packaging and clinical trials; and an overview of intellectual property
rights.
Chapter five provides detailed analysis of the political and economic environment in Taiwan,
and analyses economic indicators, demographics, and healthcare infrastructure and
expenditure.
Chapter six provides an overview of the opportunities for and challenges to growth in Taiwan’s
healthcare market.
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Overview of the Pharmaceutical and Medical Device Markets
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
3 Overview of the Pharmaceutical and Medical Device Markets
3.1 Pharmaceutical Market
3.1.1 Market Overview
In 2013, the pharmaceutical market of the Republic of China (Taiwan) was valued at an estimated
$XX billion, having grown at a Compound Annual Growth Rate (CAGR) of XX% from 2008. It is
projected to reach $XX billion in 2020. Although Taiwan has a smaller market compared to Japan,
China, India and South Korea, its per-capita pharmaceutical market was worth approximately $XX
in 2013. Domestic Taiwanese pharmaceutical companies sell most of their products to the local
market and the National Health Insurance Administration (NHIA) is the biggest buyer of
pharmaceuticals in Taiwan.
The Taiwanese pharmaceutical sector is divided into three sub-sectors: Active Pharmaceutical
Ingredients (API), Western medicine and Traditional Chinese Medicine (TCM) (Hu, 2009). The
Taiwanese government is aggressively supporting R&D into Western medicines and applications
into TCM drugs. In 2011, the production value of APIs was approximately $XX billion, while
formulated drugs were valued at $XX billion and TCMs were valued at $XX billion (Department of
Investment Services, 2012).
The level of domestic consumption of pharmaceuticals is higher than the level of exports for
pharmaceutical goods in Taiwan. In 2012, domestic demand for pharmaceuticals was
approximately XX%, while only XX% of the pharmaceutical goods were exported (MOEAIDB,
2013).
The Global Budget Payment System was introduced in Taiwan in 2001, after which the price paid
by the NHIA for drugs fell six times by 2010. This has had a negative impact on both domestic
companies and foreign players. The seventh cut in drug prices occurred in December 2011, under
the country’s National Health Insurance (NHI) policy (USTR, 2013). These price-cutting policies
and the reimbursement environment in general are posing a significant challenge to the growth of
the country’s pharmaceutical market as they are discouraging future investment and interest due to
low returns.
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Overview of the Pharmaceutical and Medical Device Markets
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
However, the Taiwanese government is taking various steps to ensure investment and growth for
the country’s pharmaceutical industry. According to the Act for the Development of Biotech and
New Pharmaceuticals Industry (2007) the government is providing incentives for new
pharmaceutical companies to establish themselves in Taiwan, such as a reduction of income tax to
a maximum of XX% (Department of Investment Services, 2013a).
Figure 1: Pharmaceutical Market, Republic of China (Taiwan), Revenue ($bn), 2008–2013
2008 2009 2010 2011 2012 2013*
Rev
enue
($bn
)
CAGR (2008–2013): XX%
Source: Chen, 2010; MOEAIDB, 2013; Australian Trade Commission, 2013 *Estimated figure
Table 1: Pharmaceutical Market, Republic of China (Taiwan), Revenue ($bn), 2008–2013
Year 2008 2009 2010 2011 2012 2013*
Revenue
Source: Chen, 2010; MOEAIDB, 2013; Australian Trade Commission, 2013 *Estimated figure
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Country Analysis
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
5.3 Economic Indicators
5.3.1 Gross Domestic Product
5.3.1.1 GDP per Capita
GDP, which refers to the market value of all goods and services produced within a country in a
given period, is often considered an indicator of a country’s standard of living. In 2013, GDP per
capita in Taiwan was $XX, having grown at a CAGR of XX% from 2008.
Since then the GDP has showed an increasing trend (IMF, 2014a). The International Monetary
Fund (IMF) expects the GDP per capita to reach $XX in 2014 and $XX in 2019. Based on IMF
data, the GDP per capita is forecast to reach an estimated $XX in 2020 (IMF, 2014a).
Figure 33: Economic Indicators, Republic of China (Taiwan), Gross Domestic Product per Capita ($), 2008–2013
2008 2009 2010 2011 2012 2013
GD
P p
er c
apita
($)
CAGR (2008–2013): XX%
Source: IMF, 2014a
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Country Analysis
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
5.5.1.3 Hospitals by Type of Services
Western medicine hospitals are classified into psychiatric, specialty, ordinary, general and chronic
care hospitals. There are more general hospitals than any other type of hospital. Some of the most
popular specialty hospitals are: Show Chwan Memorial Hospital, Potz General Hospital, Kaohsiung
Veterans General Hospital, and Chi-Shan Hospital.
Figure 70: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals by Services Rendered (%), 2012
Ordinary hospitalsGeneral hospitals
Psychiatric hospitals
Chronic care Specialty hospitals
Source: MoHW, 2013c
Table 79: Healthcare Infrastructure, Republic of China (Taiwan), Hospitals by Services Rendered, 2012
Type of hospital Share (%) Number of facilities
Ordinary hospitals
General hospitals
Psychiatric hospitals
Chronic care
Specialty hospitals
Source: MoHW, 2013c
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Appendix
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
7 Appendix
7.1 Abbreviations
µg/m3: micrograms per cubic meter
µm: micrometers
AC: Advisory Committee
ADHD: Attention Deficit Hyperactivity Disorder
ALK: Anaplastic Lymphoma Kinase
ANDA: Abbreviated New Drug Application
API: Active Pharmaceutical Ingredients
ASEAN: Association of Southeast Asian Nations
BACE: Beta Secretase
BNHI: Bureau of NHI
BoPA: Bureau of Pharmaceutical Affairs
CAGR: Compound Annual Growth Rate
CCPC: China Chemical & Pharmaceutical Co.
CDC: Centers for Disease Control
CDE: Center for Drug Evaluation
CDI: Clostridium difficile Infection
CE: Conformité Européenne
CKD: Chronic Kidney Disease
CMO: Contract Manufacturing Outsourcing
CNS: Central Nervous System
CO2: Carbon Dioxide
COPD: Chronic Obstructive Pulmonary Disease
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Appendix
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
CPI: Consumer Price Index
CPP: Certificate of Pharmaceutical Product
CPS: Counts Per Second
CRAMS: Contract Research and Manufacturing services
CRL: Complete Response Letter
CRO: Contract Research Outsourcing
CT: Computed Tomography
CTIL: Clinical Trial Import License
CTP: Community Transformation Programme
DBC: Drug Benefit Committee
DEHP: Diethylhexyl phthalate
DET: Drug Expenditure Target
DoH: Department of Health
DPP: Democratic Progressive Party
DTaP–Hib–IPV: Diptheria, Tetanus and Pertussis–Haemophilus influenzae type b–Inactivated
PolioVirus
DTwP: Diphtheria, Tetanus toxoid with whole-cell Pertussis
E-beam: Electron beam
ECFA: Economic Cooperation Framework Agreement
EMA: European Medicines Agency
EMAP: Emerging Markets Asia-Pacific
ENT: Ear, Nose and Throat
EPA: Environmental Protection Administration
ESRD: End-Stage Renal Disease
EU: European Union
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Appendix
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FDA: Food and Drug Administration
FDI: Foreign Direct Investments
FEIBA: Factor eight inhibitor bypassing activity
Forex: Foreign exchange
GCP: Good Clinical Practice
GCRC: General Clinical Research Center
GDP: Gross Domestic Product
GLP: Good Laboratory Practice
GMP: Good Manufacturing Practice
GNI: Gross National Income
GSK: GlaxoSmithKline
HD: Hemodialysis
HepB: Hepatitis B vaccine
HIPAA: Health Insurance Portability & Accountability Act
HIV: Human Immunodeficiency Virus
HTA: Health Technology Assessment
ICD: Implantable Cardioverter-Defibrillator
ICH-GCP: International Conference on Harmonization–Good Clinical Practice
IDEA: International Design Excellence Awards
IDSA: Industrial Designers Society of America
iFOBT: immunochemical-based Fecal Occult Blood Test
IGIV: Immune Globulin Intravenous
IMF: International Monetary Fund
iMPRO: Integrated Medicinal Products Review Office
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Appendix
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
IND: Investigational New Drug
IRB: Institutional Review Board
IPR: Intellectual Property Rights
IVD: In-vitro diagnostics
JE: Japanese encephalitis vaccine
JIRB: Joint Institutional Review Board
KMT: Kuomintang (Nationalist Party)
LIS: Laboratory Information System
ml: milliliters
MMR: Measles, mumps and rubella combination vaccine
MNC: Multinational Company
MoHW: Ministry of Health and Welfare
MRI: Magnetic Resonance Imaging
NCE: New Chemical Entities
NDA: New Drug Application
NHE: National Health Expenditure
NHI: National Health Insurance
NHIA: National Health Insurance Administration
NME: New Molecular Entities
NRPB: National Research Program for Biopharmaceuticals
NSAID: Non-Steroidal Anti-Inflammatory Drugs
OB: Originator Brand
OECD: Organization for Economic Co-operation and Development
OEM: Original Equipment Manufacturing
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Appendix
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
OOP: Out-of-Pocket
OTC: Over-The-Counter
PACS: Picture Archiving Communication Systems
PBRS: Pharmaceutical Benefit and Reimbursement Scheme
PCV: Pneumococcal Conjugate Vaccine
PIP: Peak Inspiratory Pressure
PM10: Particulate Matter with a diameter of ≤10µm
PUD: Peptic Ulcer Disease
QC: Quality Control
QIV: Quadrivalent
QSD: Quality Systems Documentation
R&D: Research and Development
RRC: Research Review Committee
SDR: Special Drawing Rights
TAITRA: Taiwan External Trade Development Council
TB: Tuberculosis
TCM: Traditional Chinese Medicine
TEPA: Taiwan Environmental Protection Agency
TFDA: Taiwan Food and Drug Administration
TGPA: Taiwan Generic Pharmaceutical Association
TIPO: Taiwan Intellectual Property Office
TJCHA: Taiwan Joint Commission on Hospital Accreditation
TUR: Trans-Urethral
UN: United Nations
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Appendix
HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
UNFCCC: United Nations Framework Convention on Climate Change
UNICEF: United Nations Children's Fund
VACRS: Vocational Assistance Commission for Retired Servicemen
VAR: Varicella Vaccine
WIPO: World Intellectual Property Organization
WTO: World Trade Organization
7.2 Bibliography
10times (2014). Medical and pharmaceutical trade shows in Taiwan. 10times. Available from:
http://10times.com/taiwan/tradeshows. [Accessed on April 25, 2014].
Australian Trade Commission (2013). Health and Biotechnology: Trade Opportunities in the
Asian Century. Australian Trade Commission. Available from:
http://www.austrade.gov.au/ArticleDocuments/1418/Asian-Century-2013-Health-and-
Biotechnology-Melbourne.pdf.aspx [Accessed on April 27, 2014].
Baxter (2013). Annual report 2013. Baxter. Available from:
http://www.baxter.com/downloads/investors/reports_and_financials/annual_report/2013/2013_
baxter_form10-K.pdf.
Branigan T (2012). “Taiwan offers baby bonus to fix plummeting birth rate”, The Guardian,
January 23, 2012. Available from: http://www.theguardian.com/world/2012/jan/23/taiwan-low-
birth-rate. [Accessed on March 27, 2014].
Bureau of Foreign Trade (2014a). Import Regulation codes instruction. Bureau of Foreign
Trade. Available from: https://fbfh.trade.gov.tw/rich/text/fhj/asp/FHJP150Q.asp
[Accessed on March 27, 2014].
Bureau of Foreign Trade (2014b). Notes of import regulations. Bureau of Foreign Trade.
Available from:
http://www.trade.gov.tw/english/Pages/Detail.aspx?nodeID=101&pid=309889&dl_DateRange=
all&txt_SD=&txt_ED=&txt_Keyword=&Pageid=1 [Accessed on March 27, 2014].
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7.3 Research Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with
advanced statistical expertise and marketing, market research and consulting backgrounds in the
pharmaceutical industry.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk )
and Strategic and Competitive Intelligence Professionals (www.scip.org ).
All GlobalData databases are continuously updated and revised. The following research
methodology is followed for all databases and reports.
7.3.1 Coverage
The objective of updating GlobalData’s coverage is to ensure that it represents the most up-to-date
vision of the industry possible.
Changes to the industry taxonomy are built on the basis of extensive research of company,
association and competitor sources.
Company coverage is based on three key factors: revenue; products; and media attention,
innovation and market potential.
The estimated revenue of all major companies, including private and governmental, are gathered
and used to prioritize coverage.
Companies that are making the news or are of particular interest due to their innovative approach
are prioritized.
GlobalData aims to cover all major news events and deals in the pharmaceutical industry, updated
on a daily basis.
The coverage is further streamlined and strengthened with additional input from GlobalData’s
expert panel (see below).
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HEALTHCARE, REGULATORY AND REIMBURSEMENT LANDSCAPE – REPUBLIC OF CHINA (TAIWAN)
7.3.2 Secondary Research
The research process begins with extensive secondary research using internal and external
sources to gather qualitative and quantitative information relating to each market.
The secondary research sources that are typically referred to include, but are not limited to:
Company websites, annual reports, financial reports, broker reports, investor presentations and
US Securities and Exchanges Commission (SEC) filings
Industry trade journals, scientific journals and other technical literature
Internal proprietary databases
Relevant patent and regulatory databases
National government documents, statistical databases and market reports
Procedure registries
News articles, press releases and web-casts specific to the companies operating in the market
The CountryFocus reports are largely based on secondary research and use reliable and
authoritative sources such as the IMF, the World Bank, OECD, WHO, UNICEF, UNStats, BEA,
MHLW and NHS, among others.
7.3.3 Forecasts
The CountryFocus reports use the data available from the secondary sources to forecast and
validate the future trends for a country’s healthcare market, as well as parameters related to the
economy and healthcare infrastructure and expenditure.
7.3.4 Expert Panel
GlobalData uses a panel of experts to cross-verify its databases and forecasts.
GlobalData’s expert panel comprises marketing managers, product specialists, international sales
managers from pharmaceutical companies, academics from research universities, consultants from
venture capital funds, and distributors/suppliers of pharmaceuticals and supplies.
Historic data and forecasts are relayed to GlobalData’s expert panel and adjusted in accordance
with their feedback.
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7.4 Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData.