Singapore: Biomedic consulting, the Taiwanese Medical Devices and Biotechnology consulting firm  has inked a strategic partnership deal with  Taiwan Biomed. The partnership aims to combine Biomedic Consulting’s expertise in Business Development and Regulatory in Europe and USA with Taiwan Biomed's multi-disciplinary team composed of industry consultants, scientists, designers and software/hardware engineers to deliver solutions for Taiwanese medical devices companies.

Both the companies, together aim to focus on providing Taiwanese medical devices companies in-depth market intelligence and new market entry strategies in Europe and USA. With this partnership, these companies will benefit from Biomedic Consulting’s extensive network of distributors and professional in order to facilitate their business development effort and build new revenue streams through Licensing, Indirect Distribution and Joint-Ventures.

Biomedic Consulting and Taiwan Biomed look forward to providing Taiwanese medical device organizations with unique, world-class solutions that will allow them to bring life-changing technologies to the global marketplace in the most efficient manner possible.

“Taiwan is becoming a major hub for Medtech and Biotechnology innovation in Asia, said, Sofiane Bennacer, CEO, Biomedic Consulting. “We are well aware of the challenges Taiwanese companies face when trying to expand their business in Europe and USA. Through this new partnership with Taiwan Biomed, we will support their international expansion and leverage our mutual expertise and network to bring Taiwanese excellence to the forefront of of the worldwide Healthcare and Biotechnology markets."

Taiwan’s government has designated biomedicine as one of the “five plus two” innovative industries for priority development. The Executive Yuan also passed the Biomedical Industry Innovation Program on November 10, 2016 to make Taiwan an Asian-Pacific hub for biomedical research and development.

As of the end of 2016, Taiwan had 108 listed biomedical industry firms with an aggregate market capitalization of NT$976.1 billion (US$30.2 billion). Total business revenues for those companies in 2016 was NT$186.4 billion (US$5.8 billion), up 21 percent from 2015, and the government will continue to spur industry growth through strategic, value and commercial innovations.

By the year 2020, the domestic industry is expected to develop 10 new pharmaceuticals, put 40 high-value medical devices on the international market, and achieve output value and export sales worth NT$650 billion (US$21.4 billion). By 2025, the goal is to develop 20 new pharmaceuticals and have 80 different high-value medical devices on the international market, creating an NT-trillion-dollar industry offering a wide range of quality products.