Taiwan’s Biotech Industry Directives: Six Strategic Aspects of AI Empowerment, Smart Healthcare, and Global Expansion

The 2024 Biotechnology Industry Strategy Advisory Committee (Bio Taiwan Committee, BTC) concluded on the 28th. Over one and a half days of closed-door sessions, the committee reported on various aspects of Taiwan’s biotech ecosystem, focusing on six key areas: AI empowerment, medical information and health data, precision health and holistic care, talent and funding, implementation and market access, and international linkage and market expansion. The annual event determines the strategic direction of Taiwan’s biotech industry.

AI Empowering Medical Innovation: Comprehensive Breakthroughs from Drug Development to Smart Health Management

AI was identified as a driving force in healthcare innovation, spanning drug development, disease detection, and smart health management. In research and development, AI has improved drug discovery efficiency by integrating drug design with clinical data analysis. For instance, synthetic biology and protein engineering have accelerated AI-driven drug development, reducing the time to market.

In disease detection, AI enhances the precision of image analysis through deep learning and big data, leading to more efficient risk assessment and early screening platforms. In smart health management, AI has transformed personalized health monitoring by integrating AI hardware and software with Taiwan’s data resources, improving healthcare quality.

Medical Information and Health Data: Building the Foundation for Future Healthcare

Medical information and health data are crucial for smart healthcare. The BTC Conference highlighted the importance of next-generation healthcare information systems (HIS) in improving service efficiency and promoting data interoperability. These systems should be implemented across all healthcare levels, from medical centers to primary clinics, extending to long-term care.

To enhance data processing, integrating AI tools into HIS systems was recommended. The conference also addressed the challenge of balancing data integration with privacy protection, proposing the creation of a digital health platform that ensures privacy while enabling data interoperability.

Precision Health and Holistic Care: Promoting Public Health and Sustainable Development

Precision health and holistic care are essential for public health promotion. The BTC Conference highlighted the role of advanced biomedical testing technologies in preventive care. Early screening and diagnostics can reduce disease incidence and healthcare resource consumption.

Home healthcare drives industry development, with AI technology and smart devices enhancing health management precision. Moreover, the conference emphasized public-private partnerships in promoting health across all ages. Developing the smart elderly care industry requires integrating medical institutions and care facilities.

Talent and Funding: Dual Forces Driving Medical Industry Innovation and Growth

Talent and funding drive innovation and growth in the medical industry. The conference stressed the need to cultivate mid- to senior-level talent experienced in AI, translational research, and clinical research design. Support can come through subsidies, incentives, and cross-disciplinary education.

The BTC also recommended attracting international venture accelerators and promoting the “Venture Building” model for biotech growth. Government incentives, such as lowering risk coefficients and capital adequacy ratios, will attract funds into the biotech sector. Additionally, public and private medical centers should invest in the industry to boost innovation and competitiveness.

Implementation and Market Access: Steering the Commercialization of Smart Healthcare Technologies

Commercializing smart healthcare technologies drives industry growth. The BTC Conference recommended introducing certified smart medical materials into national healthcare institutions via insurance sandbox models. Accumulating data and usage experience should precede integrating these technologies into health insurance reimbursements and international markets.

The conference emphasized building a resilient supply chain as essential for market adaptation. Policy support is needed to stabilize domestic suppliers and facilitate international market entry. Additionally, the conference suggested positioning Taiwan as a preclinical translational center and clinical trial base. Promoting outcome-based reimbursement models for innovative drugs and technologies will further drive commercialization.

International Linkage and Market Expansion: Enhancing Taiwan’s Global Competitiveness in the Medical Industry

Strengthening global competitiveness is crucial for Taiwan’s medical industry. The BTC Conference noted the ongoing global supply chain restructuring. Taiwan should promote domestic and international collaboration in Contract Development and Manufacturing Organizations (CDMO) and Contract Research Organizations (CRO).

The conference highlighted the need to upgrade from “Made in Taiwan” to “Created in Taiwan” (CIT) in drug development and manufacturing. Strengthening translational research will drive product creation. Encouraging large companies to conduct system integration and market products globally will enhance Taiwan’s competitiveness. Additionally, government incentives will benefit these efforts.

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Author

Bernice Lottering