Biomedical Technology Development

From Ministry of Science and Technology 2018-03-27

TAIWAN: THE HEART OF ASIA

about Taiwan is unique in its blend of western and eastern cultures. A modern, open society with a democratically elected government and western institutions, Taiwan also maintains the traditions, language and culture of the world’s oldest civilization. The ancient art and science of acupuncture and Traditional Chinese medicine (TCM) are still widely studied and practiced in Taiwan, as well in China and throughout much of Asia.

Taiwan is perfectly positioned as both an entry point into Asia, as well as a regional hub. From a location standpoint as well as culturally, Taiwan has access advantages to the most dynamic and fastest growing economies of the Asia Pacific region. The country has international airports with world-class facilities, and deepwater harbors and ports. It is well served by direct international links to nations around the world, and many Asian destinations are just a short, direct flight away.

MACRO ENVIRONMENT: GLOBAL COMPETITIVENESS RANKINGS

Taiwan’s longstanding commitment to promoting global trade and open markets is well established. The government has gone to great lengths to create the infrastructure and regulatory framework conducive to the biomedical industry. Location, open financial markets, sound financial institutions, low taxes, a transparent legal system, abundant foreign reserves and the country’s talented people make Taiwan the perfect place to do business.

Twenty-first century Taiwan is among the most internationally competitive, innovation-driven economies in the world. The following list speaks for itself.

Economic Freedom

The importance of economic freedom cannot be overstated. The 2015 Index of Economic Freedom, jointly published by the Heritage Foundation and the Wall Street Journal, ranked 186 countries based on four factors: the rule of law, size and intrusiveness of government, regulatory efficiency and openness of markets. Taiwan ranked 5th in Asia, ahead of both Japan and South Korea, and 14th overall. Taiwan’s position, as both a base of operations and an important gateway to Asia, is unsurpassed.

OVERVIEW OF TAIWAN'S BIOMEDICAL INDUSTRY

about The global life sciences industry is projected to reach USD $1.8 trillion by 2019 (Source: Deloitte 2016 Global Life Sciences Outlook), and Asia will be one of its most important future markets. By 2019, the region is expected to generate more than half of all growth in the number of high-income households worldwide, and by 2025, 310 of the world’s top 600 cities will be in Asia.(Source: McKinsey Global Institute CityScope2.0 Report)

Taiwan’s biomedical industry includes three major sectors: applied biotechnology, pharmaceuticals, and medical devices.

The government has been investing in the biotechnology industry since 1984, when it founded the Development Center for Biotechnology (DCB), a non-profit research institute with the mission to develop Taiwan’s biotech industry. Research institutes have played an important role in the development of Taiwan’s economy, and today no less than nine institutes are involved in the development of the country’s biomedical industry.

In addition to DCB, there are also the Industrial Technology Research Institute (ITRI), the Medical and Pharmaceutical Industry Technology and Development Center (PITDC), the Metal Industries Research Development Centre (MIRDC), the National Health Research Institutes (NHRI), the Center for Drug Evaluation (CDE), the Agricultural Technology Research Institute (ATRI), the National Applied Research Laboratories (NARLabs), and Academia Sinica (AS).

Thanks to its background in ICT and manufacturing, Taiwan is already a world leader in a number of medical devices, including digital blood pressure monitors, electric wheelchairs and scooters, and electronic thermometers. In 2016, Taiwan’s electronic/digital blood pressure monitors and electric wheelchairs ranked 2nd in the world, with a market share of 22.9% and 33.5%, respectively. As momentum continues to build, investors are taking note. Over the past 10 years, private investment in the industry has increased steadily and signficantly.

TAIWAN, YOUR PARTNER IN ASIA

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INDUSTRY CLUSTERS & BIOMEDICAL CORRIDOR

 

Taiwan is famous for its industry clusters. The WEF ranked Taiwan #2 in the world in cluster development in 2016.

 

Many specialized biotech clusters have been established across the island and can be easily accessed by Taiwan’s ultra modern High Speed Rail (HSR) system. In less than two hours, the HSR effectively connects the Nangang biomedical cluster in the north to Kaohsiung in the south, and makes the island of Taiwan itself one large, unified biomedical corridor.

RESEARCH INSTITUTES

ADVANTAGES AND OPPORTUNITIES

about INDUSTRY CLUSTERS & BIOMEDICAL CORRIDOR

When it comes to the biomedical industry, Taiwan offers a number of advantages and opportunities to overseas partners and investors.

Advantages
• Open and transparent review process for drugs and medical devices
• A one-stop service window for the biomedical industry
• Comprehensive biotech incubation mechanism and cluster infrastructure
• Advanced, multinational, multicenter clinical trial infrastructure
• Abundance of biotech talent who are familiar with Europe, the US and Asia
• Active capital markets and convenient fundraising channels

Opportunities
• Vast unmet medical and welfare needs arising from the world's aging populations
• Emerging Asian economies consuming more biomedical services
• Asian-specific diseases and conditions to be addressed
• Taiwan is a bridge between East and West
• Potential to integrate with Taiwan's ICT and precision industries

INVESTING, DOING BUSINESS AND LIVING IN TAIWAN

Taiwan is an awesome place to live, invest, and do business. In 2016, Taiwan ranked first – # 1 – out of 67 countries as the best place in the world for expats by the InterNations Expat Insider Survey.

Taiwan has an excellent and affordable healthcare system, and from a purchasing- power-parity (PPP) standpoint offers great value to expats who choose to live here. The Taiwanese people are warm and friendly towards foreigners, and the country is one of the safest in the world.

Taiwan also has a vibrant startup community. The 2015 Global Entrepreneurship Index (GEI) ranked Taiwan as the best place in Asia to start a business, 8th out of 130 countries worldwide.

BPIPO: ONE-STOP SERVICE WINDOW

about The Biotechnology and Pharmaceutical Industries Promotion Office (BPIPO) administers the Executive Yuan’s one-stop service window for the biomedical industry, a single contact window designed to help companies receive quick, convenient service relating to any governmental or regulatory issues they might be facing. BPIPO is a friendly referral service for matters related to drug approval and other regulatory affairs, R&D applications, technology transfer and commercialization, stock listings and investment promotion. The office helps companies to scale, offering consulting services, assistance in promotion activities, personnel training and recruitment, marketing, strategic alliances, as well as market information and other services.

Whatever your needs in the biomedical industry may be, BPIPO is here to help.