2023

Introduction to
Biotechnology andPharmaceutical Industries
in Taiwan (R.O.C.)

Biotechnology and Pharmaceutical Industries Promotion Office (BPIPO), MOEATAIWAN, Your Best Partner in Asia

Photo by Marina Perez on Unsplash

CONTENTS

Preface

P.02
P.04
P.1 0

Key Figures at a Glance
THE Biomedical Industry in Taiwan

P.20
P.22
P.24

Strengths and Advantages
BPIPO SERVES AS THE One-Stop-Shopfor THE Biomedical INDUSTRYWorldwide Contacts for
Taiwan's Biomedical Industry

Preface
The world has entered the post-pandemic era, stimulating the unlimited imagination of thebiomedical industry. The integration of digitization and AI, together with the cross-sector
technology, have led to the development of more timely and humane products, and created higher
production value and output, which are also the trends of Taiwan's future development. The
biomedical industry is one of the key industries that the government has been actively promoting
for a long period of time, and is listed in the Innovation Industries Program and the Programfor Promoting Six Core Strategic Industries- Taiwan Precision Health Industry, realizing the fivemajor strategies of improving the bio-data integration platforms, developing biomedical crosssector industry technology, optimizing the industry environment, integrating and linking the park clusters, and strengthening theinternational links, with the aim of building the health brand of Taiwan, marketing products and exporting services internationally
towards the visions of an all-age health and smart nation by 2030.
In order to support the development of the domestic biomedical industry, the Industrial Development Bureau completed theamendment of the Act for the Development of Biotechnology and Pharmaceutical Industries at the end of 2021, not only
incorporating emerging projects such as New Dosage Forms, Digital Medicine and Innovative Technology Platforms, but also
integrating the advantages of domestic medical technology and information and communication technology, so as to produce
biotech and pharmaceutical products that can be more accurately used for treatment, diagnosis, prevention and prediction.
The addition of Contract Development and Manufacturing Organization (CDMO) companies will be conducive to strengthening
domestic biotech and pharmaceuticals manufacturing capacity and enlarging the size of the industry. As of the end of October,02

2022, 172 companies have been certified as biotech companies, and 453 items have been approved, of which 72 products
have been approved for marketing both domestically and internationally. Through the government's multiple rent and tax
incentive measures, including tax credits for R&D expenditure, tax credits for corporate shareholder investment, new purchaseof brand new machinery, equipment or systems, increased individual shareholders, enhanced talent retention and recruitment
and other incentives, more companies are being attracted to invest in biotech product development, leading the biotech andpharmaceuticals industry towards a new era.
The pandemic has accelerated the domestic development and manufacturing of biomedical products, and the revenue of thebiomedical industry has grown by 10.9%, reaching a record high in 2021 of NTD 666.5 billion over the past decade. As ofDecember of 2021, 128 biomedical companies were listed in the stock market or in the OTC (over the counter) market, 78 in theemerging stock market, and 20 in GISA (the Go Incubation Board for Startup Acceleration Firms).
We hope to make good use of the existing advantages of the information and communication industry, medical technology anddata to accelerate the integration and innovation of technology and the integrated application of medical data to drive thegrowth of the precision health industry as well as make Taiwan the best partner in global biomedical innovation.

Director GeneralIndustrial Development Bureau, MOEA
October, 2022

03

Key Figures at a Glance

The tea research and extension station located in Nantou County
is a fabulous spot to enjoy the sunrise and Sun Moon Lake.

Photo by Tourism Bureau, Ministry of Transportation and Communication

BeijingSeoulTokyoShanghai

Flight to major cities in West
Pacific Ocean on average is2.55Hong Kong

Bangkok

ManilaNavigation to five major ports
in Asia Pacific on average is53
Kuala Lumpur

hours.

hours.

Singapore

Asia-Pacific Hub
Taiwan serves as an Asia-Pacific transportation hub connecting Northeast and Southeast Asia. Its first-rate international airports
enable convenient travel averaging only 2.55 hours from Taipei to major western Pacific cities (Tokyo, Seoul, Shanghai, Hong
Kong, Bangkok, Kuala Lumpur and Manila), and the world-class Kaohsiung Port facilitates goods shipment averaging only 53
hours to five major regional ports (Manila, Singapore, Hong Kong, Shanghai and Tokyo).
Taiwan not only forms a crucial link for Europe, America and Japan with the emerging Asia-Pacific market, it is also a preferred
location for multinationals to establish their regional headquarters.

05

Taiwan at a Glance

Taiwan is at the southernmost tip of Northeast Asia. It is in the center of the East Asian island arc and on the western edge ofthe Pacific Ocean, with Japan and the Ryukyu Islands to the north, and the Philippines to the south. Taiwan is not only a crucial
Asia-Pacific trade and logistics hub but also a major strategic base. Across its 36,197 km2 are diverse natural elements, richcultures and pleasant climates.

CapitalTaipei (TPE)

Languages
Mandarin (Chinese)
Holo (Taiwanese)
Hakka and Austronesian Languages

Population (2021)
23.46 Million

Land Area
36,197 Km206

Stable Political System
Taiwan is currently a member of several international economic organizations, including the World Trade Organization, the AsiaPacific Economic Cooperation group and the Asian Development Bank. Taiwan also engages in regular trade and exchanges
with over 140 countries worldwide. As the global economy becomes more liberal and develops more rapidly, Taiwan continues
to adjust its industrial development strategies such as easing regulations, removing investment restrictions, and reinforcing
intellectual property measures to be in line with international trends.

Major Economic Indicators, Taiwan 2021

GDP

Export Value

Unemployment

USD 774.94 Billion

USD 446.38 Billion

3.95%

GDP Per Capita

Import Value

Labor Participation Rate

USD 33,011
Economic Growth

USD 381.49 Billion

59.02%

6.57%
Foreign Exchange Reserves
USD 548.85 Billion (May, 2022)07

Photo by Tourism Bureau, Ministry of Transportation and Communication

Global Competitiveness Rankings- Let the World See Us
Taiwan offers exceptional business conditions, and its investment and living environment are highly valued by international
institutions.

1st

The Best Healthcare System
Numbeo, 2022

2ndProfit Opportunity Recommendation in Asia
BERI, 2021

3rd

The Best Destination for Expatriates
The Expat Insider of InterNations, 2022

6thIndex of Economic Freedom
Heritage Foundation, US, 2022

7th

World Competitiveness Ranking
World Competitiveness Yearbook, IMD, 2022

(3rd in Asia)(3rd in Asia)

09

The Biomedical Industry in TaiwanTHEState Policy Fully Supports Fostering R&D and Innovation
The promotion of Six Core Strategic Industries was announced by President Tsai in her inaugural address on May 20, 2020.
These industries include the information and digital industries, cybersecurity industry, precision health industry, green andrenewable energy industry, national defense and strategic industries and strategic stockpile industries. By moving early withpreparations and building on the foundations of the Innovative Industries Program, Taiwan will gain the first-mover advantage tocapitalize on opportunities in the post-pandemic era of reshuffling global supply chains.
For the precision health industry, a platform that integrates materials of the Taiwan Biobank and National Health Insurance
Research Database will be established; systems of precision prevention, diagnosis, treatment and care will be built; precisionepidemic prevention products will be developed, and international biomedical business opportunities will be explored.
Six Core Strategic Industries

Information and Digital

Cybersecurity

Highlighted Innovative Industries Program

National Defense and Strategic

The “Biomedical Industry
Innovation program ”
apace aims to makeTaiwan an Asia-Paciﬁcbiomedical R&D hub,focusing on establishing
local to global links.

NewAgriculture

Precision HealthGreen andRenewable Energy

Biomedical

Strategic Stockpile

Asia
Silicon Valley

CircularEconomy

NationalDefense

SmartMachineryGreen Energy＊ Sources: Ministry of Foreign Affairs

11

Taiwan’s Biomedical Industry Sectors
Taiwan’s biomedical industry comprises four major sectors: Applied biotechnology, Pharmaceuticals, Medical devices, andHealthcare.

Biomedical Industry

Medical Devices

Applied Biotechnology
Agriculture
Food
Contract Services
Environmental Biotechnology
Specialty Chemicals

Pharmaceuticals
Small Molecules Drugs
Biologics
Active Pharmaceutical Ingredients (API)
Traditional Chinese Medicine

Diagnosis and Monitoring
Surgery and Treatment
In-vitro Diagnostics
Disease Prevention and Health Promotion
Other Miscellaneous Devices

Healthcare
Healthcare Products
Healthcare Promotion and Services

12Focus of Dedicated Subfields in Taiwan

New Drug &New Dosage FormPrecision
Medicine

High-Risk
Medical
DeviceRegenerative
Medicine

Other
Strategic
Biotech andPharmaceutical
Product

Contract
Development &Manufacturing
Organization(CDMO)

Digital
Medicine

Innovative
Technology Platforms
Dedicated to theBiotech andPharmaceuticalIndustry

13

In 2021, Taiwan’s biomedical industry reached USD 23.79 billion in revenue, representing a growth of approximately 17.1% from2020 (USD 20.32 billion).
While healthcare represents the largest subsector in Taiwan’s biomedical industry, with revenue of USD 7.59 billion in 2021, or
31.9% of the total revenue in this industry, medical devices ranks 2nd with revenue of USD 8.43 billion in 2021 or 35.4% of thetotal revenue.

USD (Billion)
16.14

16.18

13.21
3.85

5.85

5.39

18.10

5.66

6.29

23.79
7.59

6.95

8.43

4.17

4.92

4.85

5.28

5.47

2.42

2.46

2.66

2.66

2.762.77

2.91

3.27

3.47

2015

2016

2017

2018

Applied Biotechnology

Pharmaceuticals＊ Source: Biotechnology Industry in Taiwan 2022. IDB, MOEA

14

17.07

20.32

6.50
3.01

3.27

3.58

3.86

4.49

2019

2020

2021

Medical Devices

Healthcare

The public offering market represents a platform for the government, companies, and investors to raise funds and invest directly.
Taiwan’s negotiable securities market is categorized into over-the-counter and exchange markets based on features to review.
Companies intending to engage in innovative and creative undertakings can raise funds through the emerging stock market or
the Go Incubation Board for Startup and Acceleration Firms (GISA) stock market via underwriting firms familiar with relevant
operations and regulations.
In August of 2021, Taiwan had 128 listed biotech and medical care companies, with a total value of USD 38.94 billion. Amongthem, 75 and 20 companies have registered on emerging and GISA stock markets respectively. Through diverse capital market
fundraising channels for operating and R&D funds, the value of Taiwan’s public capital market continues to grow.

2,173.3
TaiwanBiomedicalInvestmentin 2021

(USD Million)

Taiwan ListedCompany(Aug. 2022)

Enterprise

128

507.6

(companies)(USD Million)>38.9

Government*(USD Billion)*The Government Investment is the National Development Fund (NDF) which includes Important Emerging
Industries Investments, Special Project Investments, Venture Capital Investments, and Business AngelInvestment Program.

15

The National Biotechnology Research Park facilitates innovative researchby closely integrating key institutions to create an efficient cluster effect.

Comprehensive Bio-industrial Clusters
Bio clusters

Bio clusters

Hsinchu Biomedical Science Park
Hsinchu Science Park
Hsinchu Industrial Park

Focus

TaoyuanInternational Airport

Hi-Tech Medical Devices
Smart Machinery
Biologics

TaipeiNational Biotechnology Research Park
Nankang Software Park
Taipei Bioinnovation Park

Focus

Discovery of New Drugs
Precision Medicine
Clinical Trials

Hsinchu

Bio clusters

Central Taiwan Science Park
Central Region Industrial Park

Taichung

Focus

Medical Devices
Production of Pharmaceuticals

Taipei－KaohsiungBio clusters

Daily Life Circle
The Taiwan High Speed Rail (THSR)
travels from north to south in just 90 minutes.

TainanSouthern Taiwan Science Park
Southern Region Industrial Park

Focus

Hi-Tech Medical Devices
Active Pharmaceutical Ingredients

Kaohsiung
Pingtung Bio clusters
Pingtung Agricultural Biotechnology Park

Focus

Agricultural Biotechnology
Traditional Herbal Medicine
Animal and Plant Medicine

17Successful Examples of Multinational
Corporations Investing in Taiwan

Successful Examples of Multinational Corporations Investing in Taiwan

19Strengths and Advantages
PIC/S GMP from 2013
Taiwan owns drug review regulations conforming to international
standards and pharmaceutical processes in accordance withinternationally accepted PIC/S GMP specifications.

Reliable Clinical Trial Sites
Taiwan currently has 25 medical centers and 143 clinical trial hospitalsthat provide clinical trial sites for new drugs or medical materials.
The Taiwan Clinical Trial Consortium (TCTC) works to promote Taiwan
as an Asia-Pacific regional leader in new drug and clinical trials andfacilitates the development and commercialization of internationaland domestic biomedical products.

Sound Infrastructure
Taiwan has a dense, comprehensive transportation network andrelatively inexpensive water, electricity, and telecommunications
utilities that approach 100% penetration.

Diverse Culture of Innovation
Taiwan boasts a thriving R&D sector. Innovative elements bringworldwide popularity to its high-tech consumer electronic products,
chain store services, public-use bicycles, pearl milk tea and Chineselanguage music.

20

Well-Protected Intellectual Properties
Regarding protection for intellectual properties, Taiwan
adheres to international treaties and norms.Relevant
policies and laws are open and transparent in Taiwan.

Excellent Labor Force
Taiwan’s excellent labor force is nurtured by its universal
education system, which produces more than 300,000 new
graduates each year at the college level or above.

Government Subsidies for Foreign Partnership:
Global Innovation Partnership Initiatives
This program encourages international and local companies
to work together, and co-develop new technologies, such as
forward-looking technologies, key technologies, and integrated
technologies, in order to co-construct the ecosystem ofdomestic industries, promote international cooperation, andcreate a win-win situations for both.

Friendly towards Fundraising and Financing
Abundant capital, stable exchange rates, and relatively low interest rates
and capital costs make Taiwan a friendly environment for fundraising andfinancing. Policies to attract foreign investment include relaxing restrictions
on foreign enterprises that seek to raise capital and simplifying fundraisingadministrative procedures

21

BPIPO serves as the one-stop-shop
the biomedical industry
for The
The Biotechnology and Pharmaceutical Industries Promotion Office (BPIPO) is the first point of contact for Taiwan's biomedicalindustries. The office provides business development assistance to companies of all sizes at all stages worldwide.
Every year, BPIPO assists more than 100 companies in their business growth. Over the past few years, it has even helped
Taiwan’s biomedical industry receive investments of more than USD 1.5 billion per year.
BPIPO aims to be the world‘s partner for business development in Taiwan’s biomedical sector.

One-Stop-Shop Service

Contact us

22Professional
Team

The assistance provided by BPIPO includes financial support, personnel training andrecruitment, R&D collaboration, technology transfer, regulatory issues, commercialization,marketing, promotion activities, stock listing, strategic alliances, and others.

StrategicAlliance

FinancialSupport

Stock

Personnel
Training andRecruitment

Listing

R&D
Collaboration

Promotional
AactivityTechnologyTransferMarketing
Commercialization

Biotechnology & PharmaceuticalIndustries Promotion Office, MOEA(+886 2) 2655 8135
https://www.biopharm.org.tw
services@biopharm.org.tw
Businesses seeking investment
services may also contact
InvesTaiwan.

Regulatory
Issue

InvesTaiwan Service Center, MOEA(+886 2) 2311 2031
https://investtaiwan.nat.gov.tw
dois@moea.gov.tw

23

Worldwide Contacts for
Taiwan's Biomedical Industry

Research Institutions as Technology Pioneers, Industry Backup, and Integrated Services Provider

Academia Sinica(+886-2) 2782 2120
https://www.sinica.edu.tw

Development Centerfor Biotechnology(+886-2) 7700 3800
https://www.dcb.org.tw

Industrial TechnologyResearch Institute(+886) 800 45 8899
https://www.itri.org.tw

Medical andPharmaceutical Industry
Technology andDevelopment Center(+886-2) 6625 1166
http://www.pitdc.org.tw

Metal Industries Research& Development Centre(+886-7) 351 3121
https://www.mirdc.org.tw

25

London, United Kingdom(+44 20) 7881 2650
gbr@mofa.gov.tw

Ottawa, Ontario, Canada(+1 613) 231 5080
can@mofa.gov.tw

Los Angeles, U.S.A.
(+1 213) 389 1215
tecola@mofa.gov.tw

Washington, U.S.A.
(+1 202) 895 1800
usa@mofa.gov.tw

Berlin, Germany(+49-30) 203 610
deu@mofa.gov.tw

Paris, France(+33 1) 4439 8830
fra@mofa.gov.tw

Tel Aviv, Israel(+972 3) 607 4788
isr@mofa.gov.tw

Brasilia, DF, Brasil(+55 61) 3364 0221
bra@mofa.gov.tw
Hatfield, Republic of South Africa(+27 12) 430 6071
zaf@mofa.gov.tw

26

Worldwide Contacts for Taiwan's Biomedical Industry

Vilnius, Lithuania(+37 0)5204 4114
ltu@mofa.gov.tw

Seoul, Korea(+82 2) 6329 6000
kor@mofa.gov.tw

Praha, Czech Republic
Bangkok, Thailand(+42 0)234 722 022
infocze@mofa.gov.tw (+66-02) 1193 555
tha@mofa.gov.tw

Tokyo, Japan(+81 3) 3280 7811
vipass@mofa.gov.tw
Singapore(+65) 6500 0100
sgp@mofa.gov.tw
Jakarta, Indonesia(+62 21) 515 3939
idn@mofa.gov.tw
Canberra, Australia(+61 2) 6120 2000
aus@mofa.gov.tw

New Delhi, India(+91 11) 4607 7777
ind@mofa.gov.tw

Riyadh, Kingdom of Saudi Arabia(+966 11) 488 1900
sau@mofa.gov.tw

Kuala Lumpur, Malaysia(+60 3) 2161 4439
mys@mofa.gov.tw

Worldwide Contacts for Taiwan's Biomedical Industry

Wellington, New Zealand(+64 4) 473 6474
nzl@mofa.gov.tw27

TAIWAN, Your Best Partner in Asia
Photo by Tourism Bureau, Ministry of Transportation and Communication

2023 Introduction to Biotechnology and Pharmaceutical Industries in Taiwan (R.O.C.)
Publisher: Industrial Development Bureau, Ministry of Economic Affairs
Address: No. 41-3, Sec. 3, Xinyi Road, Da’an District, Taipei City 106242, Taiwan
https://www.moeaidb.gov.tw
Tel: (+886-2) 2754 1255
Fax: (+886-2) 2706 1933
Editor: Biotechnology & Pharmaceutical Industries Promotion Office, Ministry of Economic Affairs
Address: Room A, 17F, No. 3, Park Street, Nankang District, Taipei City 115603, Taiwan
http://www.biopharm.org.tw
Tel:(+886-2) 2655 8135
Fax:(+886-2) 2655 8134
Publication Date: Oct. 2022
Revision: First Edition
Price: NTD100 (COST)
The electronic file can be downloaded from https://www.biopharm.org.tw
ISBN:978-986-533-300-3
GPN:1011101407
The Industrial Development Bureau, Ministry of Economic Affairs reserves all rights. Those who wish to use this book, in its entirety or inportions, must seek the consent or written authorization from the Industrial Development Bureau, Ministry of Economic Affairs.
Contact Information:(+886-2) 2754 1255 # 3916 LibraryISBN：978-986-533-300-3

9 789865 33300 3