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Big Opportunities in Medical/Healthcare, Biotech, Pharma for VRAR (x AI x IoT + other emerging technologies e.g. blockchain)
Taiwan is sometimes called the "Asian Miracle", a small island of just 23.5 million people, yet it has become one of the top 20 economies in the world, hub of APAC/ASEAN and bridge to China. Taiwan is currently undergoing a digital renaissance with billions of dollars being dedicated to building a "Asian Silicon Valley" and "5 + 2" Industrial Innovation Plan. Taiwan has some of the best talent in the world, consistently ranking globally in the top 5 or 10 of STEM scores. The Digital Giants are investing heavily to develop Emerging Technologies in Taiwan. Taiwan provides a wonderful environment to do business or start a company. One can now find literally hundreds of startup events, incubators and accelerators. Besides all this Taiwan is consistently listed as one of the top 10 or 20 Best Places in the World to Live, Best Places to Travel, Best Places for Foreigners to Live and Work!
By being strategically situated in Asia-Pacific region, Taiwan is an excellent route for foreign companies into the emerging healthcare economies of Asia, while also being an ideal platform, from which to enter the Chinese market. Taiwan’s welcoming culture and reliable business environment underpin the potential for strong partnerships. Joint R&D opportunities lie in Taiwan’s ICT strengths, as Taiwan excels in hardware development with a well-established and professional supply chain. Taiwan’s leading ICT giants are actively seeking investment opportunities and R&D projects as they diversify into the healthcare industry. They welcome horizontal and vertical integration models of emerging technologies such as VRAR, especially for medical devices and healthcare services through M&A or forming strategic partnerships.
In the biotechnology sector, capitalization of local publicly-listed biotech companies is valued at $23.9B USD with a total revenue of 7B USD up 17% since 2015. With over 105 bio-related IPO companies, Taiwan is a prime location for industry investment, partnerships, and licensing opportunities, as a result pharmaceutical companies like GSK and AstraZeneca are actively running clinical R&D centres in Taiwan. Taiwan is a significant global market, with National Health Expenditure accounting for 6.3% of GDP (34.7B USD) this is expected to grow annually at a rate of 4.8%. It applies WHO/FDA healthcare standards and has a high level of IP protection. Taiwan’s high quality universal health coverage single payer National Health Insurance (NHI) program covers 99.9% of the island’s 23.5 million population with public satisfaction at 83.1%. Looking ahead Taiwan has a number of serious health challenges that need to be addressed, not least of all an aging population, international cooperation will be vital to solving these issues.