National Health Insurance in Taiwan has faced deficits over several consecutive years partly due to drug abuse and the public’s over-reliance on subsidised medical services. To sustain the National Health Insurance programme, the government has been cutting down on the subsidies for OTC drugs.
In 2016, Taiwan Food and Drug Administration (FDA) announced Good Distribution Practice for Medical Products (GDP), which regulated the standards for drug distribution and logistics. For example, drugs need to be stored under 25 degree Celsius at all time during transportation.
In the past few years, several food scandals emerged in Taiwan which aroused consumers’ awareness of food as well as drug safety. In 2017, the local company Tien Liang Biotech was found to have tampered with expiration dates of Nocks acetaminophen products.
In addition to direct selling, chemists/pharmacies and drugstores/parapharmacies remained the leading distribution channels for consumer health products. Since 2018, chemists/pharmacists have been under reform as several leading retailers merged or partnered with one another to expand business.
A positive outlook is slated for consumer health over the forecast period. As consumers in Taiwan are becoming more health conscious, demand for vitamins and health supplements continues to rise.
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This industry report originates from Passport, our Consumer Health market research database.