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MEDiT 2018 Unveils New Opportunities in Smart Healthcare

MEDiT 2018 took place in Taipei.

MEDiT 2018 took place in Taipei.

The 2018 Medical Electronics & Device in Taiwan Forum (MEDiT) held in October in Taipei centered on the theme “Empowering Smart Healthcare Through Cross-industry Synergy: The New Paradigm.” Among the invited speakers were Ozgur Baydarol, R&D Manager at Turkish household appliances maker Arçelik A.Ş.; Yoichiro Hamazaki, General Manager of the IT Healthcare Project at Japan’s Teijin Ltd.; and Samuel Ding, former Research Director at Baxter Healthcare. These experts shared their insights on smart healthcare and market trends, which would pave the way for greater cross-industry synergy and help firms seize blue ocean opportunities.

The Industrial Development Bureau of the Ministry of Economic Affairs pointed out the enormous global market potential of Taiwan-made medical devices. In a bid to boost its visibility in international markets, Taiwan continues to strengthen innovation-oriented R&D in the biomedical industry, while also promoting smart medical devices and systems. It hopes to utilize the advantage of the industrial clusters here to make Taiwan an Asia-Pacific hub for innovative R&D in biotechnology, pharmaceuticals, and medical devices.

Dr. Chii-Wann Lin, ITRI’s Vice President and General Director of Biomedical Technology and Device Research Laboratories, remarked that ITRI aims to foster an innovation ecosystem and biomedical clusters in response to the government’s 5+2 Innovative Industries Plan. He further illustrated ITRI’s efforts in promoting the growth and export of high-end medical devices. For instance, ITRI’s startup Somnics, which developed a device to treat Obstructive Sleep Apnea (OSA), has obtained the permit to sell its product in Malaysia, a successful attempt to tap into the ASEAN market.

A number of experts also attended this year's forum. Jane SC Tsai, Senior Vice President for International Affairs at YFY Biotech Management Company, discussed new business models and opportunities associated with the use of AI and Big Data in medical devices offering smart diagnosis. Doris Tseng, Senior Business Consultant at the Taiwan-USA Industrial Cooperation Promotion Office, provided Taiwanese companies with suggestions on how to create sales networks for smart medical devices in the U.S. healthcare system. Yi-Sung Kuo, COMDEK Industrial Co. Chairman, shared his firm's experience in discovering business opportunities in Asia-Pacific emerging markets.

This year marks the 11th anniversary of MEDiT, with the forum having become the premier international event for Taiwan’s medical device industry. Besides introducing the emerging global business models for healthcare and medical devices and providing insights about key markets in Europe and the U.S., business matchmaking meetings were arranged for the second day, offering the opportunity for one-on-one talks between domestic manufacturers and international sales channels. These meetings promoted substantive business interaction, with the hope of assisting Taiwan firms in expanding their presence into international markets and becoming part of the global business value chain.

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