Medical instruments Exports to See 15% Growth in 2006: ITRI

October 6, 2006

With a rise in OEM orders for contact lenses and blood glucose meters, export figures for Taiwan’s medical instruments industry are projected to grow by 15% to NTD 28.73 billion, according to the Industrial Technology Information Service (ITIS), a project overseen by the Industrial Economics and Knowledge Center (IEK), a division of the Industrial Technology and Research Institute.

According to figures for the first half of 2006 released by IEK-ITIS, Taiwan’s medical instruments industry exports reached NTD 12.87 billion, a 13.3% rise over the same period last year, when exports totaled NTD 11.36 billion. Medical equipment imports totaled NTD 18.23 billion, declining 0.2% from 2005.

The sharp rise in export orders is attributed mainly to large OEM orders placed with local contact lens manufacturer St. Shine Optical and blood glucose meter manufacturer Apex Biotechnology, said IEK analyst Wu Xin-ru.

After the US contact lens OEM Cooper Vision acquired competitor Ocular Science to produce its own brand, more companies have been turning to Taiwan’s St. Shine Optical for OEM orders, said Wu.

In the blood glucose meter market, there has been continued growth despite the shrinking number of diabetes patients around the world, as existing patients continue to use the devices, added Wu.

According to IEK figures, mobility vehicles for the physically disabled accounted for the largest share of medical equipment exports, totaling NTD 2.795 billion or 21.7% of all exports. Contact lenses and blood glucose meter exports totaled NTD 620 million and NTD 470 million respectively, comprising 4.8% and 3.7% of all medical equipment exports.

(Economic Daily News)

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