Event Information

Time:June 23, 2015 (Tuesday)

Place: TRPMA Conference Room

TRPMA invited Ms Yu-Chen Hsu, a senior industry analyst of the ITIS, to give a special talk on the analysis of the global and northeast Asia drug markets. The global drug market is expected to reach USD1.3 trillion in 2018. The market in Asia will have the highest potential due to economic boom, an ageing population and the increase of patients with chronic diseases.

Ms Hsu pointed out that the three countries in northeast Asia, China, South Korea and Japan, account for 22% of the total world population. These three countries will have the highest drug expenditure per capital in 2014-2017. Northeast Asia is an important market. Japan is opening up its market and is promoting R&D and regenerative medicine. The market in South Korea is very protective, giving local drug companies an advantage. Generic drugs have a high market share. In China, the industry environment is very complicated and the competition is tight while the market concentration is rather low.

Ms Hsu suggested that the drug companies in Taiwan should contemplate their strategies in the northeast Asia. For example, to penetrate the Japanese market through cooperation in R&D, to increase the competitiveness in South Korea through joint adventure, and to focus on specific market segment in China in order to differentiate from competitors. The drug industry in Taiwan should consider the features of individual market and formulate strategies accordingly.