Navigation Links
Taiwan Spends a High Percentage of its Healthcare Budget on Pharmaceuticals, but Second Generation Healthcare Reform is Transforming the Market Landscape
Date:12/23/2013

BURLINGTON, Mass., Dec. 23, 2013 /PRNewswire/ -- Decision Resources, one of the world's leading research and advisory firms for pharmaceutical and healthcare issues, finds that the high level of pharmaceutical expenditure in Taiwan is being reined in by Second Generation Healthcare Reform enacted in January 2013. Taiwan has one of the highest levels of pharmaceutical spending in the Asia-Pacific region, accounting for approximately 24 percent of total healthcare expenditure, which is higher than neighboring countries such as Japan (about 20 percent) and South Korea (about 21 percent). However, drug prices in Taiwan remain relatively low at about 28 percent of average U.S. prices, due to biennial price revisions.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36784LOGO)

According to the Taiwan Market Access Tracker, several policies introduced as part of the healthcare reform could significantly impact the pharmaceutical industry. A two-stage drug review mechanism, an annual drug expenditure target and the official introduction of health technology assessment will cause delays to new product launches and will tighten control over pricing and reimbursement. Given that around one-quarter of healthcare expenditures in Taiwan are spent on pharmaceuticals, there is substantial pressure from the government to contain costs and ensure the financial sustainability of the country's health insurance system.

"The National Health Insurance Administration has been running at a financial deficit since 2006. Several recent developments such as the establishment of the National Institute of Health Technology Assessment and the introduction of biosimilar guidelines for monoclonal antibodies underlines the government's determination to contain costs," said Decision Resources Analyst Michael Yeung, M.Sc. "One of the main goals of the second generation healthcare reform in 2013 is to increase the financial sustainability of the health insurance program. Drug manufacturers must be prepared to expand their capacity to conduct health economics evaluations as the government is expected to more closely scrutinize the cost-effectiveness of new drugs in the future."

About Decision Resources
Decision Resources (www.decisionresources.com) is a world leader in market research publications, advisory services and consulting designed to help clients shape strategy, allocate resources and master their chosen markets. Decision Resources is a Decision Resources Group company.

About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.


'/>"/>
SOURCE Decision Resources
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Stem Cell Supplement Approved In Taiwan
2. International Medical Device Conference in Taiwan Sets Three Records
3. Global Healthcare, Regulatory and Reimbursement Landscape Forecasts and Trends in UAE, Canada and Taiwan
4. Tang Prize Foundation Established in Taiwan: Academia Sinica to be Responsible for the Nomination and Selection of the International Awards in Taiwan
5. Se crea en Taiwán la Tang Prize Foundation
6. Pharmaceuticals Market Access Taiwan 2013
7. Taiwan Pharmaceutical Market Outlook 2013
8. Surveyed Physicians Report that Invokana Captures a Small Percentage of Patient Share in the Type 2 Diabetes Drug Market, With Significant Increases Expected Six Months from Now
9. Clinical Trial at Evergreen Healthcare Shows Intestinal Gel Reduces Symptoms of Advanced Parkinsons Disease
10. Netsmarts Focus on Innovation to Help Health and Human Service Providers Span the Spectrum of Care in the Healthcare 3.0 Environment
11. Qmed, the Leading Global MedTech Industry Resource, Partners with Clarimed, to Provide the Medical Manufacturing and Healthcare Industry with FDA Reports on Adverse Events
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2017)... announces the European launch of their new low volume, high throughput ... Cambridge, U.K on October 4th. The new ... unprecedented speed and sensitivity while using far less sample volume through ... ... ...
(Date:9/28/2017)... , Sept. 28, 2017 Hill-Rom Holdings, Inc. ... earnings conference call and webcast on Friday, November 3, ... (EDT) and ending at approximately 8:30 a.m. (CDT) / ... the company,s 2017 financial performance and guidance for 2018, ... initiatives to enhance operational performance, and long-range financial outlook ...
(Date:9/27/2017)... , Sept. 27, 2017  Commended for their devotion ... notable awards. Ranked as number one in the South Florida ... time in Inc. 5000 yearly list, the national specialty pharmacy ... Armando Bardisa will soon be honored by SFBJ ... Set to receive his award in ...
Breaking Medicine Technology:
(Date:10/12/2017)... San Francisco, CA (PRWEB) , ... October 12, ... ... and Dr. Cheng, are now treating sleep apnea using cutting-edge Oventus ... sleep apnea, a serious sleep disorder characterized by frequent cessation in breathing. Oral ...
(Date:10/12/2017)... ... October 12, 2017 , ... The company has ... today’s consumer and regulatory authorities worldwide. From Children’s to Adults 50+, every formula ... the highest standard. , These products are also: Gluten Free, Non-GMO, Vegan, ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) will ... during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual ... F. Collen, a pioneer in the field of medical informatics, this prestigious award is ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... system that we intend to develop to enable prevention of a major side ... severe hearing loss, especially in pediatric patients. For cisplatin, hearing loss is FDA ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader in healthcare events ... Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were announced during the ... The annual award competition recognizes editorial and design excellence across a range of sectors. ...
Breaking Medicine News(10 mins):