Taiwan Biotech

According to information provided by the Industrial Development Bureau of MOEA, Taiwan passed the Development of Biotechnology and Pharmaceutical Industries Act. The act accelerates domestic development of precision treatment, diagnosis, prevention, and prediction technology. In addition to financial incentives, the program brings Taiwan’s world class information and communication technology and talent to bear on targeted biotech areas such as new dosage formulations for pharmaceutical products, digital medicine, and innovative health technology platforms. As a result of these efforts, the annual revenue of Taiwan’s biomedical industry increased by 10.9% in 2021, hitting a decade-high of $24 billion.

As of 2022, 172 companies were officially recognized by MOEA as biotech firms in Taiwan. Companies with this certification enjoy tax credits for R&D expenses and corporate shareholders’ investments, as well as subsidies for the purchase of new machinery and equipment. These measures are already attracting increased investment in Taiwan biotech product development, propelling the biotech and pharmaceutical industry into a new era.

Taiwanese companies are especially interested in collaborating with U.S. companies that provide advanced biotech solutions such as bioreactor software, cell retention systems, purification and screening equipment, sampling systems for bioprocess monitoring, bioinformatics, and data analytics technologies.  The advances in this industry have created opportunities for U.S. companies to export technologies, engage in joint research projects, transfer technology, and enter into licensing agreements.
U.S. companies interested in the Taiwan market can participate in person or virtually in the largest biotech event in Asia, the BIO Asia Taiwan 2023 Conference and Exhibition, taking place on July 26 – 30, 2023. 

For more information on market opportunities in Taiwan, please contact Grace Tao, U.S. Commercial Service Taiwan, at Grace.Tao@trade.gov