Taiwan Pharmaceutical Consulting
Taiwan’s pharmaceutical market is worth more than $3 billion. The Taiwanese healthcare system is well-developed, with a National Health Insurance Scheme that covers every Taiwanese citizen. A good understanding of the Taiwanese healthcare regime will enable international pharmaceutical companies to thrive in Taiwan. PBM has been involved in several Taiwanese pharmaceutical consulting projects. These include assisting international pharmaceutical companies in registration and approval, marketing and distribution of new drugs, partner searches, establishment of manufacturing facilities and market research in Taiwan.
Generally, the Taiwanese pharmaceutical market is characterized by a strong concentration on generic drugs. Drug price reductions via the National Health Insurance Scheme are frequent. In terms of disease profile, cancer is the leading cause of death in Taiwan, followed by cardiovascular and cerebrovascular diseases, as well as diabetes.
About 80% of Taiwan’s pharmaceutical products are sold through hospitals. Local pharmacies account for 15% of Taiwan’s pharmaceutical sales, and clinics comprise the remaining 5%. A large percentage of Taiwan’s drugs come from domestic manufacturing facilities owned by international pharmaceutical companies. Less than half of Taiwan’s drugs are imported. These imports come mainly from the US and Europe. Drug companies looking to expand their business into Taiwan can approach PBM’s pharmaceutical consultants for direction on the necessary steps.
International companies may also need assistance in navigating through Taiwan’s pharmaceutical regulations. The Taiwanese pharmaceutical market is regulated by the Bureau of Pharmaceutical Affairs and the Bureau of Controlled Drugs. These Bureaus are in charge of establishing laws and policies for pharmaceuticals in Taiwan. They are also responsible for the issuance of licenses for drug manufacturing and distribution, supervision of drug inspections and certification of drug testing laboratories.
PBM’s Taiwan pharmaceutical consultants work with the highest level of professionalism and strive to help international companies succeed. We aim to provide our pharmaceutical clients with the best solutions through our medical consulting services. Please contact us for inquiries about PBM’s pharmaceutical consultant services, or see our PBM publications for more insight into Taiwan’s healthcare market.
