Singapore, Nov 4, 2009: The size of the global medical electronics market in 2010 is poised to reach $90 billion. It is with this in mind that the Ministry of Economic Affairs (MOEA)’s Industrial Development Bureau is sponsoring the 2009 Medical Electronics in Taiwan (MEiT) Forum. This two-day event (November 4 & 5), which has been organized by Industrial Technology Research Institute (ITRI)’s Medical Electronics and Device Technology Center, is being held at the Taipei International Convention Center.

Dr. Johnsee Lee, President, ITRI noted that this year’s MEiT Forum will continue with last year’s discussions on promoting international collaboration on labor & cooperation and developing export markets.

Dr. Johnsee Lee said that Sumitomo Heavy Industries, which is a leader in the R&D and manufacturing of large-sized instruments used in hospitals, is quite impressed by Taiwan’s machinery design and manufacturing capabilities. The Japanese company is looking for cooperative opportunities on this visit. This demonstrates that Taiwan has the ability to produce high-quality medical devices. Moving away from the low-end market and focusing on high value-added products will create many new opportunities for Taiwan.

Mr Lian-jin Jhang, the Secretary General of industrial Development Bureau, MOEA said that as the world’s population aging issue prevails, the number of people suffering from chronic and degenerative diseases is on the rise. Medical expenses and the need for healthcare services continue to increase. Taiwan exhibits cost advantages in its supply chain, while also boasting world-class biotech & biomedical research and globally renowned standards in electronics and ICT.

Dr. Yio-Wha R. Shau, General Director of ITRI’s Medical Electronics and Device Technology Center, said that Taiwan’s medical devices industry, which is growing at an annual rate of over 20%, is manufacturing- and export-oriented. However, the industry still requires more effective integration. ITRI wants to promote international branding to enhance the global competitiveness of the industry and maximize of the industry’s manufacturing capacity by assisting local firms in becoming cooperative partners on an ODM basis. Within three years Taiwan’s medical devices industry will have achieved the desired transition.

On another front, ITRI is actively looking to help the industry gain footing internationally in order to overcome bottlenecks in the local market, he said. Dr. Shau added that China’s economic take-off, coupled with policies meant to bolster industry development, and the increasing popularity of multi-functional products are key factors in the rapid 15% annual growth in market size. With this in mind, ITRI has invited China National Medicines Corp., which is China’s largest distributor of medical machinery, and Mindray Medical, a producer of high-end medical electronics, to take part in this year’s MEiT. This will provide an opportunity for Taiwan counterparts to discuss with them cooperative opportunities, paving the way for an expanded presence in the mainland market.

This year’s MEiT Forum partially overlaps with Mediphar Taipei 2009, which is being held from November 5 -8, providing an even broader opportunity for the medical electronics industries from Taiwan and overseas to meet under one roof. Local firms active in the industry have the opportunity to understand and learn from the experiences offered by the international heavyweights in how to become a part of the distribution chain in the American and Chinese markets. Local firms such as ApexBio Taiwan, Deantronics, and Advantech will discuss their status and the problems they face in entering the international market.

According to the Biotechnology Industry White Paper and research carried out by ITRI’s IEK, Taiwan’s biomedical industry revenues in 2009 will hit NT$152.9 billion. If efforts to enter the global market are successful, annual output within the next 5-7 years could nearly double.

Many industry leaders, representatives of China National Medicines Corp., Japan’s Sumitomo Heavy Industries and America’s Physician Sales and Services are taking part in MEiT Forum. Government and industry officials said that this year’s MEiT will play an important role in spurring development and growth in Taiwan’s medical electronics industry.