Taiwan’s biomedical industry reached over NT$830 billion (US$26 billion) in revenue last year, while the National Development Fund plans to invest NT$10 billion (US$313 million) in it over the next decade. This came from President Lai Ching-te (賴清德) on Thursday, October 1, at a meeting with the recipients of the 2026 Taiwan BIO Awards.

The awards were given out by the Taiwan Bio Industry Organization (Taiwan BIO) in July. They recognized a record number of 23 companies and technologies, spanning pharmaceuticals, biopharmaceuticals, regenerative medicine, precision medicine, and agricultural biotechnology.

Lai noted that numerous domestically developed drugs and innovative medical devices obtained international certifications and are gradually entering global markets. He expressed hope that Taiwan BIO will continue to serve as an important industry platform and help commercialize R&D results globally.

Lai also mentioned challenges facing Taiwan’s biomedical industry, including global supply chain restructuring and shifts in trade due to tariffs. He said this is a crucial moment for Taiwan to strengthen its capabilities and bolster industry resilience. He pledged that the government will continue to back the industry across policy and regulation, technology, and funding.

Lai said that new regulations in regenerative medicine and medical data management aim to strengthen safety and quality, while accelerating the clinical application of R&D results. He also noted that the government continues to integrate AI, semiconductors, big data, and the biomedical industry. This aims to use Taiwan’s technological strength to drive the development of smart healthcare, precision medicine, and next-generation medical technology. Moreover, the National Development Fund plans to invest NT$10 billion (US$313 million) in the industry over the next 10 years, with the goal of helping companies commercialize their technologies.