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Taiwan is accelerating towards leadership of the Fourth Industrial Revolution

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Professor Meir Pugatch spoke last week at the forum “How to Accelerate Taiwan Biomedical Policy Momentum as an Asia-Pacific Biomedical R&D Hub” hosted by the International Research-based Pharmaceutical Manufacturers Association (IRPMA), and included the Vice President of Taiwan Chien-Jen Chen and Minister Ming-Hsin Kung from the Executive Yuan, as well as leading figures from Taiwan’s Government, academia and industry.

Professor Pugatch presented a comprehensive analysis of Taiwan’s competitiveness in the biotech sector, as well as recent improvements to, and remaining challenges in, Taiwan’s path to leadership in global biotech innovation.

Notably, over recent years years Taiwan has made significant improvements to its regulatory and Intellectual Property (IP) frameworks, which were met with a significant increase of 51% in biomedical investments – from USD47.5 million in 2016 to USD71.8 million in 2018 – and 22% increase in clinical trial intensity – from 395 new CTs in 2016 to 480 new CTs in 2018.[1]

By utilizing a competitive mentality that views policy as instrumental in achieving economic and societal goals, Taiwan has emerged as a rising Bioeconomy, willing and able to compete with leading mature markets. Removing the remaining regulatory hurdles and market access challenges will boost its attractiveness to investments and accelerate Taiwan’s momentum in the race for leading the global Bioeconomy.

[1] Biomedical investments refer to the R&D investments by PhRMA-member companies in Taiwan, source: PhRMA Annual Membership Survey; clinical trials as registered in clinicaltrials.gov.

Ma'ayan Laufer

About the Author:

Ma’ayan Laufer is a senior consultant at Pugatch Consilium - a boutique consultancy that provides evidence-based research, analysis and intelligence on the fastest growing sectors of the knowledge economy. Ma’ayan specializes in regulatory and economic analysis related to healthcare, pharmaceuticals, intellectual property and innovation. He has wide experience in benchmarking excellence in the biomedical and pharmacovigilance fields, and specific experience in mapping clinical trial, registration and pharmacovigilance environments. Ma’ayan holds an MSc in Healthcare Management & Administration from the University of Haifa.
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