Market Entry - Wireless Healthcare Industry in Taiwan: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

On the basis of technology, the wireless health market is further segmented into WPAN, WLAN/WiFi, WiMAX, and WWAN. The WPAN technology market segment accounted for the largest share of the global wireless health market, in 2015, due to low cost and highly secure facilities. WPAN links wireless health devices with computers, increasing accessibility to care. It is further segmented into Bluetooth, RFID, Ant+, Zigbee, Z-wave, and UWB. The Bluetooth segment accounted for the largest share of the market in 2015. Owing to the relatively slow deployment of managed telehealth systems, which is in part due to a reluctance from health providers to move past trials; issues with reimbursement and stringent regulations related to the use and storage of medical data; medical devices used by consumers to independently monitor their health shall provide the biggest uptake of wireless technology in consumer health devices, over the next five years. Federal mandates such as ‘meaningful use stage II’ and growing adoption of wireless health devices among the elderly, and patients suffering from chronic illnesses are some of the factors driving the growth of the market. In the developed regions, the market is estimated to grow rapidly over the forecast period due to rising internet penetration, growing medical tourism, and increasing government initiatives for e-health. Some of the major players in this market are All Scripts Healthcare Solutions Inc., AT &T Inc., Cerner Corporation, Omron Corporation, Philips Healthcare, Verizon Communications Inc., Qualcomm Inc., Aerohive Networks Inc., Vocera Communications Inc., and Alcatel-Lucent.

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.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Wireless Healthcare Industry (USD millions)

                4.1 By Technology

                4.2 By Components

                4.3 By Application

                4.4 By End User

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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