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Taiwan has built a strong reputation in its medical and healthcare industries based primarily on a number of factors: robust systems, top grade medical personnel, convenience, high quality of service and an affordable pricing policy. The country also enjoys a complete supply chain and dedicated hubs for the industries. TAITRA calculates that the export value of Taiwan’s medical devices contributed nearly 3.31 billion US dollars to the economy in 2019; with growth a benefit of the US-China trade war. Even greater future development lies in the abundant potential of state-of-the-art R&D in the medical, biotechnology and IT industries which Taiwan has long possessed. It is evident that the nation has the capacity to harness our expertise in these industries and create a lasting competitive edge that will promote us internationally.
As one of the trend leaders for promoting industries, TAITRA highlights the great opportunity that exists for Taiwan to combine the medical and healthcare industry with technological and electromechanical advances into the development of smart medical solutions. The organization employs various strategies to help enterprises, especially Taiwanese corporations, expand their global reach and together enhance the positive image of the Taiwanese medical industry. Take the Taiwan Excellence Awards for instance, established in 1993 by the Ministry of Economic Affairs and organized by TAITRA, the categories comprise of R&D, design, quality and marketing. Each year, eligible Taiwanese companies are subject to the rigorous selection process and are celebrated as our champions of industry for their products that offer innovative value. The latest Taiwan Excellence Gold Award winner in 2020, “Caduceus”, created smart surgical glasses featuring Mixed Reality technology with surgical navigation made by Taiwan Main Orthopaedic Biotechnology. Another winning product, “MonoStereo Visualization System”, converts 2D endoscope images into 3D and is made by MedicalTek. These are just two examples of Taiwanese products that are at the cutting edge of smart medical solutions to allow surgeons to perform better and save more lives.
The process of promoting the medical industry, along with accelerating cooperation with institutions globally, can be convoluted without even factoring in doing research and design, manufacturing and complying with regulations and application procedures. Despite the challenges, it is inarguable that brand integrity, credibility and strong promotion strategies are crucial for boosting the image of Taiwan’s medical industry. TAITRA is fully committed to helping enterprises grow their brands globally and thereby boost bilateral and multilateral cooperation in medical healthcare industries. The success of this endeavour is reflected in invitations to, and participation in, important international medical events. This year, the winners of the Taiwan Excellence Awards, led by their teams, will be attending several big medical exhibitions, including IDEM Singapore, AACC USA, AGExpo Malaysia and MEDICA Germany; the teams will also digitally promote Taiwan’s medical power through different channels to help expand their reach.
It is undeniable that the COVID-19 outbreak has been damaging to the global economy and has impacted MICE, too. However, especially at this critical time, TAITRA will continue to assist the medical industry in coping with the challenges faced in the global marketplace and to enhance their competitiveness.
Director of Strategic Marketing Department
Taiwan External Trade Department