i卡會員

The global pharmaceutical market is expected to maintain steady growth over the next five years, driven primarily by demand for innovative therapeutics and specific therapeutic areas. According to analysis by IQVIA, global pharmaceutical spending is projected to reach around US$2.4 trillion by 2029, with a compound annual growth rate (CAGR) of approximately 5.9% from 2024 to 2029. Oncology and obesity are the two therapeutic areas expected to emerge as the main growth engines.

Spending on oncology drugs is projected to increase from US$252 billion in 2024 to US$441 billion in 2029, representing a CAGR of approximately 11.8%. In the obesity segment, the market for GIP/GLP-1 drugs indicated for obesity is expected to expand from US$24 billion in 2024 to US$76 billion in 2029, with an estimated CAGR of 25.9%, making it the most significant “blue-ocean” market emerging in the global pharmaceutical industry.

Global R&D and deal-making dynamics reflect the industry’s urgent demand for innovation. Although merger and acquisition (M&A) activity has slowed recently, approximately US$300 billion worth of pharmaceutical products are expected to lose market exclusivity, prompting pharmaceutical companies to accelerate new product development. Over the next five years, 65–75 new active substances (NASs) are anticipated to be launched annually, with biologics and specialty drugs continuing to lead the charge. During the past five years, biologics accounted for 42% of new drugs, and the market size is projected to exceed US$800 billion by 2029. Meanwhile, specialty drugs accounted for approximately 46%. The cell and gene therapy market is also expected to expand rapidly, with an estimated market size ranging from US$14 billion to US$36 billion.

Taiwan’s pharmaceutical industry experienced different dynamics by product category. The demand picked up for active pharmaceutical ingredients (APIs), primarily due to exports. The modest growth for pharmaceutical preparations reflected the steady domestic demand for chronic disease medications, while the biopharmaceuticals segment declined due to a high base effect in 2024. Taiwan’s pharmaceutical market remains highly import-dependent, with imported drugs accounting for over 80% of total sales. Nevertheless, as domestic companies have been aggressively developing overseas distribution channels, the cumulative export value as of the end of August 2025 nearly doubled compared with the same period the previous year. 

Looking ahead, Taiwan’s pharmaceutical industry continues to focus on international regulatory approvals, licensing, and global market expansion. Companies such as PharmaEssentia, TaiMed Biologics, Handa Pharmaceuticals, and UBI Pharma have steadily expanded their overseas presence through regulatory approvals, while others (including GWOXI, Taiwan Bio Therapeutics, TWi Biotechnology, Pharmosa Biopharm, and Brim Biotechnology) are advancing with clinical trials.

As global markets are continually raising the bar for innovation and quality, the pharmaceutical industry in Taiwan is accelerating the establishment of international clinical collaborations and overseas footprint to enhance its product value-added and global visibility. The government has been proactively driving relevant policies, including the Taiwan Medical Information Standards Platform, built by the Ministry of Health and Welfare, to strengthen the utilization of real-world data and real-world evidence (RWD/RWE), and the Incentive Program for Generic Anti-Cancer Drugs orchestrated by the National Health Insurance Administration. More recently, the Executive Yuan approved the National Pharmaceutical Resilience Preparedness Program (2026-2029), which allocates NT$24 billion over four years to promote domestic production of critical medicines and key medical devices. The program will introduce smart monitoring and supply–demand early warning mechanisms, strengthen strategic stockpiling and dispatch systems, and plan for the establishment of a national-level Pharmaceutical Intelligent Logistics and Stockpiling Center (PILLS Center), with the goal of achieving domestic production of at least 50 critical medicines.

However, recent national security investigations in the United States on branded and patented drugs, and the possible levy of 100% import tariffs on certain pharmaceuticals, may affect the export competitiveness of new drugs from Taiwan. That said, this may also create potential opportunities for generic medicines. Going forward, Taiwanese pharmaceutical companies will need to closely monitor policy developments and flexibly adjust their market strategies to maintain an international competitive edge.