Thumbnail

Market Entry - Portable Medical Devices Industry in Taiwan: Analysis of Growth, Trends and Progress (2020 - 2025)

Looking to buy the report?

 

About the Market

An increase in the aging population and rising healthcare costs are driving this market. Technological advancements shall affect the cost of medical devices, which are providing a competitive edge to manufacturers. The growth of the global market for portable medical electronic devices is hampered due to security concerns and connectivity problems. The market can be segmented into respiratory, cardiac, hemodynamic, fitness & wellness, insulin pumps and ultrasound devices with cardiac contributing to most of the revenue. North America and Europe are the two key regions accounting for over 70% of the global market. Asia-Pacific is showing remarkable growth due to favorable government initiatives & reimbursement policies and economic & technological advancements; with India and China fueling the growth of the market. Philips Healthcare, Medtronic, GE Healthcare, and Carefusion Corporation are key players in the market.

About the Geography

Taiwan has a dynamic capitalist economy with a semi-presidential government. Its economy is now the 26th largest in the world,as per the International Monetary Fund’s (IMF) World Economic Outlook Database. The island enjoys strong growth sustained by the dynamism of the entire region, a population with high purchasing power, and an economy focused on technology.

Taiwan has one of the lowest fertility rates in the world, which tells us that the country is about to face labor shortages. To counter this, new regulations provide preferential tax incentives to foreign professionals employed in Taiwan, aimed at improving the overall environment for recruiting and attracting professionals from other countries. The regulations, which address a general shortage of professional talent, are expected to benefit up to 3,000 foreign professionals. Currently, a proposal has been made to establish "free economic demonstration zones" (FEDZ). The goal of building up these zones is to position Taiwan as Asia-Pacific’s Free Trade Center. The first phase of the plan has been launched in August 2013 and the draft Special Act for EPZ is awaiting ratification.

The major drawbacks for conducting business in Taiwan are the lack of direct communication with China, certain weakness in the protection of intellectual property, and a limited domestic market. Still, Taiwan ranks very high in the ease of doing business and its strategic geographical location serves as an entryway to China and the ASEAN markets. The modern infrastructure and excellent innovation capabilities make it an attractive destination for investors.

Component Name

                              Unit

From Site

GDP

                       USD billion

524

GDP Annual Growth Rate

%

0.7

GDP Per Capita

USD

22044

Unemployment Rate

%

3.95

Wages

USD/Month

1,478.39

Inflation Rate

%

0.33

Consumer Price Index (CPI)

Index Points

105

Interest Rate

%

1.38

Loans to Private Sector

USD million/billion

313,463.33 million

Balance of Trade

USD million/billion

4374 million

Manufacturing PMI

Index Points

52.2

Ease of Doing Business

(No Units)

11

Competitiveness Rank

(No Units)

14

Corruption Rank

(No Units)

30

Consumer Confidence

(No Units)

78.66

Consumer Spending

USD million/billion

68,674.89

Bank Lending Rate (Consumers)

%

2.64

Corporate Tax Rate

%

17

Sales Tax Rate

%

5

                                                              

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

Looking to buy the report?

Want some specific customizations?

Our clients include:

prev-arrow
next-arrow

Looking to Customize Report?

Please Enter Email ID

Please Enter Message