Taiwan holds a competitive advantage in several industries that the medical device industry relies upon, including electronics, ICT (Information and Communication Technologies), precision machinery and fasteners. As a result, Taiwan is able to develop and manufacture high quality medical devices with costs far lower than that of US and Europe.
In addition, government support in forms of funding and favorable regulations not only stimulates but also accelerates innovation and new technologies in Taiwan's medical device industry.
As a result, the focus of Taiwan’s medical device industry has shifted from production only to R&D and innovation.
To show the world how Taiwan has changed, the Taiwan External Trade Development Council (TAITRA) is organizing a press conference to present innovative products and technologies from Taiwan. The press conference will take place on November 15th from 2 to 3pm in Hall 8b at Room 814A. Visitors and press are all cordially invited to attend.
A glimpse of the presenting companies:
HIWIN is ranked 37th on Forbes’ World's Most Innovative Company list. Utilizing expertise in precise motion control, HIWIN is going to talk about robotic rehab therapy and ubiquitous healthcare service.
AmCad has invented the Computer Assisted Detection Software device to detect the risks of Obstructive Sleep Apnea. Standard methods require the patients to stay overnight at the hospital and sleep while wearing an uncomfortable mask. This device allows the physicians to evaluate the risks of Obstructive Sleep Apnea within 15 minutes while the patient is awake.
EverBio is going to present the world's first fully automated Tissue MicroArrayer (TMA) with the highest throughput of tissue blocks. This invention is a huge contribution to the development of precision medicine and personalized medicine.
Shoprider is going to present the ROVI Power Wheelchair. Corners, high curbs, uneven road surface and steep slopes will no longer limit the mobility.
Adronic has developed a unique light source system and customized camera for its medical endoscope to increase sensitivity and accuracy during examination.
For the first time, visitors can get a closer look at the Taiwan Excellence award winning products in hall 17 at booth number A61. The winners are selected by international judges based on the five key indicators: R&D, Design, Quality, Marketing and the fact they’re Made in Taiwan.
Unaffected by the overall slowdown of the economy, the export of Taiwan’s medical devices has been growing steadily since 2005. During 2011 – 2015, export of medical devices has increased by a CAGR (Compound Annual Growth Rate) of 8.6%, reaching $1.82 billion USD by the end of 2015. Due to the increasing demand from a rapidly aging global population, the market will continue to expand in the coming decade.
Provider of high-quality affordable healthcare products
The main export markets for Taiwan’s medical devices are the US (27%), Japan (15%) and EU (>14%).
According to a study conducted by Scientific American in 2016 to evaluate the biotechnology competitiveness of 54 countries, Taiwan ranked 23rd, followed by South Korea (24th), Spain (29th), Italy (38th), China (41st) and 27 other countries. Different countries were judged by comparing the scores of 27 criteria including: revenues of publicly traded company, numbers of biotech patents, Intellectual Property (IP) protection, capital availability, expenditure on biotechnology R&D and education.
According to 2015-2016 Global Competitiveness Report, published by World Economic Forum, Taiwan ranked 15th globally, 4th in Asia following Singapore, Hong Kong and Japan.