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Taiwan medical device industry forecast to grow 6.9 to 8.5 percent
 
 
Taiwan Trade Center, Bucharest
2016-08-17
         
 

Source : Nienting Yu

 

Taiwan's medical device industry is expected to grow as much as 8.5 percent this year to a record high, supported by demand for medical devices from a steadily aging population worldwide, according to the Industrial Economics and Knowledge Center (IEK).


“The medical device industry is less affected by macroeconomic ups-and-downs. ‘Brexit’ should not have any significant impact on the industry,” center analyst Tsai Meng-nan said. “Rather, it is more prone to regulatory changes.”


Taiwan’s medical device industry is expected to expand at an annual rate of between 6.9 percent and 8.5 percent this year to around US$3 billion in revenue, Tsai said.


Tsai attributed the growth to rising medical spending as the world’s population ages.


Spending in the US and Germany, in particular, accelerated last year — increasing at an annual rate of 4.7 percent and 4 percent respectively, from a compound annual growth rate of less than 4 percent for the two countries between 2011 and 2014, the center said.


“We believe the nation’s medical device industry is heading to an up cycle this year and the industry has promising business prospects,” Tsai said.


Contact lenses and blood sugar testing strips are the two largest revenue contributors, constituting 24 percent and 14 percent respectively of the local industry’s total shipments this month, the center said.


US, Japan and China are the top three export destinations for the industry, the center said.


Source: Taipei Times
Nienting Yu (iris.yu@taitra.org.tw)

 
 
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