Taiwan discloses plans to jumpstart local med device industry
The island's Central News Agency reports that Taiwan's government is making its own concerted effort to nurture industry growth in 5 different sectors: Kidney dialysis machinery, respiratory care equipment, in vitro diagnostic technology, microsurgery and high-end dental device tech. Their market, it turns out, is surging with a growing number of elderly patients and others with chronic diseases. Vice Economics Minister Duh Tyzz-jiun told CNA that Taiwan medical devices and equipment sales almost reached the $3.42 billion mark in 2011, and is poised to rise 7% in 2012.
Duh would be working with a locally based medical devices and equipment sector that already exports plenty, CNA reports. The industry, he said, produces high-quality, low-priced products as well as device and equipment components. But he wants Taiwan's locally based companies to go broader, according to the article, and branch out into smaller devices that are minimally invasive, portable and can provide many different functions.
The device industry already appears to be listening. Duh spoke at the Medical Electronics and Device in Taiwan Forum recently held in Taiwan and major medical equipment makers from the United States, Germany, Japan, China and Singapore all had a seat to listen to his talk, the article notes.
Companies including Boston Scientific ($BSX), Covidien ($COV) and General Electric ($GE) have all invested in research development operations in mainland China over the last year. Medtronic ($MDT) has done this, too, and recently went even further, closing an $816 million acquisition of Kanghui Holdings, a Chinese manufacturer of Trauma, spin and joint-reconstruction devices.
- read the CNA article (Via Focus Taiwan news channel)