Key Market Indicators
Taiwan's pharmaceutical research and development (R&D) expenditure is projected to hit approximately $756 million by 2028. This marks an increase from around $652 million in 2023, reflecting an average annual growth rate of 2.3%. Since 2005, Taiwan's supply in the pharmaceutical sector has been on the rise, showing a consistent annual growth of 5.3%. In the global rankings for 2023, Taiwan secured the 8th position. The United Kingdom led just ahead of Taiwan with an expenditure also around $652 million. Topping the list were China, Germany, and South Korea, ranking second, third, and fourth respectively.
