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- The currency used in this article is Taiwan Dollar (TWD).
- The number of biomedical companies registered, including the agricultural technology segment, companies with listed, unlisted and emerging stocks (Taipei Exchange only), is 216.
- Revenue in Q1, 2023 totalled TWD$85.64B, up by 12.14% as opposed to $76.37B the same quarter in 2022.
Biomedical Sector by Revenue in Q1, 2023 ( Listed, Unlisted and Emerging Stocks Combined)
| Business Focus / Income Stream |
Q1, 2023 |
Q1, 2022 |
QoQ Growth (%) |
| No. of Companies |
Revenue (TWD, 100M) |
Average Revenue (TWD, 100M) |
Revenue (TWD, 100M) |
| Bio-Pharmaceuticals |
75 |
248.61 |
3.31 |
182.51 |
36.22 |
| Medical Device R&D, Manufacturing |
66 |
167.59 |
2.54 |
172.71 |
-2.96 |
| Workout Equipment & Health Supplement |
17 |
152.52 |
8.97 |
153.41 |
-0.58 |
| Pharmacy & Distributor |
16 |
145.2 |
9.07 |
126.42 |
14.86 |
| Aesthetic Medicine & Beauty Care |
11 |
57.6 |
5.24 |
52.95 |
8.78 |
| Agriculture & Agricultural Science |
8 |
34.8 |
4.35 |
31.93 |
8.99 |
| APIs |
7 |
33.13 |
4.73 |
28.65 |
15.64 |
| Genetic Testing & Wellness Check |
16 |
16.96 |
1.06 |
15.12 |
12.17 |
| Total |
216 |
856.4 |
3.96 |
763.7 |
12.14 |
Top 20 by Revenue: Q1, 2023
| Rank |
Company |
Revenue (TWD, 100M) |
QoQ Growth (%) |
| 1 |
Johnson Health Tech .Co., Ltd. (喬山) |
70.32 |
-6.57 |
| 2 |
Bora Pharmaceuticals Co., LTD. (保瑞) |
48.64 |
335.33 |
| 3 |
Lotus Pharmaceutical Co., Ltd. (美時) |
45.24 |
43.1 |
| 4 |
Great Tree Pharmacy Co., Ltd. (大樹) |
38.17 |
19.36 |
| 5 |
Dyaco International Inc. (岱宇) |
22.29 |
-1.35 |
| 6 |
Grape King Bio Ltd (葡萄王) |
22.2 |
8.14 |
| 7 |
China Chemical & Pharmaceutical Co., Ltd. (中化) |
21.09 |
8.12 |
| 8 |
Excelsior Medical Co., Ltd. (佳醫) |
20.19 |
18.22 |
| 9 |
TCI Co., Ltd. (大江) |
18.73 |
12.96 |
| 10 |
MedFirst Healthcare Services, Inc. (杏一) |
17.55 |
9.15 |
| 11 |
YungShin Global Holding Corporation (永信) |
16.71 |
-14.49 |
| 12 |
TaiDoc Technology Corporation (泰博) |
15.36 |
-14.34 |
| 13 |
Standard Chemical & Pharmaceutical Co. Ltd. (生達) |
14.93 |
20.66 |
| 14 |
Pegavision Corporation (晶碩) |
14.6 |
-1.93 |
| 15 |
Synmosa Biopharma Corporation (健喬) |
12.5 |
29.23 |
| 16 |
Cowealth Medical Holding Co., Ltd. (合富-KY) |
11.81 |
-12.9 |
| 17 |
TTY Biopharm Company Limited (東洋) |
11.66 |
12.46 |
| 18 |
Orient EuroPharma Co., Ltd. (友華) |
11.51 |
0.64 |
| 19 |
St.Shine Optical Co.,Ltd. (精華) |
11.31 |
-15.93 |
| 20 |
Universal Vision Biotechnology Co., Ltd. (大學光) |
10.28 |
23.08 |
Top 20 by Revenue Growth in Q1, 2023: Listed Company
| Rank |
Company |
Revenue (TWD, 100M) |
QoQ Growth (%) |
| 1 |
Johnson Health Tech .Co., Ltd. (喬山) |
70.32 |
-6.57 |
| 2 |
Lotus Pharmaceutical Co., Ltd. (美時) |
45.24 |
43.1 |
| 3 |
Dyaco International Inc. (岱宇) |
22.29 |
-1.35 |
| 4 |
Grape King Bio Ltd (葡萄王) |
22.2 |
8.14 |
| 5 |
China Chemical & Pharmaceutical Co., Ltd. (中化) |
21.09 |
8.12 |
| 6 |
Excelsior Medical Co., Ltd. (佳醫) |
20.19 |
18.22 |
| 7 |
YungShin Global Holding Corporation (永信) |
16.71 |
-14.49 |
| 8 |
Standard Chemical & Pharmaceutical Co. Ltd. (生達) |
14.93 |
20.66 |
| 9 |
Pegavision Corporation (晶碩) |
14.6 |
-1.93 |
| 10 |
Chlitina Holding Limited (麗豐-KY) |
9.46 |
-8.39 |
| 11 |
Formosa Laboratories, Inc. (台耀) |
9.32 |
11.62 |
| 12 |
CHC Healthcare Group (承業醫) |
8.0 |
32.02 |
| 13 |
All Cosmos Bio-Tech Holding Corporation (全宇生技-KY) |
7.76 |
16.14 |
| 14 |
Jourdeness Group Limited (佐登-KY) |
7.76 |
21.72 |
| 15 |
Sinphar Pharmaceutical Co.,Ltd. (杏輝) |
7.71 |
15.18 |
| 16 |
Chunghwa Chemical Synthesis & Biotech Co., Ltd. (中化生) |
7.65 |
44.55 |
| 17 |
Wellell Inc. (雃博) |
7.0 |
17.53 |
| 18 |
ScinoPharm Taiwan, Ltd. (神隆) |
6.48 |
-12.13 |
| 19 |
Nang Kuang Pharmaceutical Co., Ltd. (南光) |
5.73 |
52.52 |
| 20 |
Visco Vision Inc. (視陽) |
5.25 |
-18.83 |
Top 20 by Revenue Growth in Q1, 2023: OTC Company
| Rank |
Company |
Revenue (TWD, 100M) |
QoQ Growth (%) |
| 1 |
Bora Pharmaceuticals Co., LTD. (保瑞) |
48.64 |
335.33 |
| 2 |
Great Tree Pharmacy Co., Ltd. (大樹) |
38.17 |
19.36 |
| 3 |
TCI Co., Ltd. (大江) |
18.73 |
12.96 |
| 4 |
MedFirst Healthcare Services, Inc. (杏一) |
17.55 |
9.15 |
| 5 |
TaiDoc Technology Corporation (泰博) |
15.36 |
-14.34 |
| 6 |
Synmosa Biopharma Corporation (健喬) |
12.5 |
29.23 |
| 7 |
Cowealth Medical Holding Co., Ltd. (合富-KY) |
11.81 |
-12.9 |
| 8 |
TTY Biopharm Company Limited (東洋) |
11.66 |
12.46 |
| 9 |
Orient EuroPharma Co., Ltd. (友華) |
11.51 |
0.64 |
| 10 |
St.Shine Optical Co.,Ltd. (精華) |
11.31 |
-15.93 |
| 11 |
Universal Vision Biotechnology Co., Ltd. (大學光) |
10.28 |
23.08 |
| 12 |
Formosa Optical Technology Co.,Ltd. (寶島科) |
9.83 |
19.88 |
| 13 |
Hi-Clearance Inc. (杏昌) |
9.73 |
-0.91 |
| 14 |
Rossmax International Ltd. (優盛) |
9.31 |
2.27 |
| 15 |
United Orthopedic Corporation (聯合) |
9.28 |
25.46 |
| 16 |
ShareHope Medicine Co., Ltd. (盛弘) |
8.98 |
-13.62 |
| 17 |
PharmaEssentia Corporation (藥華藥) |
8.88 |
252.6 |
| 18 |
Morn Sun Feed Mill Corp. (茂生農經) |
7.52 |
-1.28 |
| 19 |
BenQ Medical Technology Corporation (明基醫) |
6.86 |
11.58 |
| 20 |
INTAI Technology Corporation (鐿鈦) |
6.63 |
29.37 |
Top 20 by Revenue Growth in Q1, 2023: Emerging Stock (Taipei Exchange)
| Rank |
Company |
Revenue (TWD, 100M) |
QoQ Growth (%) |
| 1 |
Norbel Baby Co., Ltd (諾貝兒) |
9.44 |
-2.69 |
| 2 |
CH Biotech R&D Co., Ltd. (正瀚) |
8.01 |
35.5 |
| 3 |
WE CAN MEDICINES CO LTD (佑全-新) |
7.72 |
6.56 |
| 4 |
Vizionfocus Inc. (望隼) |
5.09 |
40.57 |
| 5 |
DV Biomed Co., Ltd. (麗彤) |
4.19 |
-14.74 |
| 6 |
Handa Pharmaceuticals, Inc. (漢達) |
3.31 |
872.86 |
| 7 |
Healthconn Corp. (康聯生醫) |
3.28 |
-5.25 |
| 8 |
Vetnostrum Animal Health Co., Ltd.(永鴻生技) |
3.14 |
-0.41 |
| 9 |
TCM Biotech International Corp. (泰宗) |
2.35 |
35.61 |
| 10 |
Anxo Pharmaceutical Co., Ltd. (瑩碩生技) |
2.3 |
30.73 |
| 11 |
Allied Biotech Corporation (立弘) |
2.0 |
24.68 |
| 12 |
Qing Song (青松健康) |
1.99 |
77.82 |
| 13 |
Concord Medical Co., Ltd. (康科特) |
1.98 |
1.34 |
| 14 |
Orient Pharma Co., Ltd. (友霖) |
1.95 |
68.58 |
| 15 |
Sunder Biomedical Tech. Co., Ltd. (善德生技) |
1.95 |
-34.11 |
| 16 |
Unicon Optical Co., Ltd. (優你康) |
1.94 |
-10.92 |
| 17 |
Amed Co., Ltd. (安美得) |
1.71 |
11.92 |
| 18 |
A Plus Biotech (愛派司) |
1.65 |
9.66 |
| 19 |
Perfect Medical Industry Co., Ltd. (普惠醫工) |
1.63 |
4.04 |
| 20 |
UBI Pharma Inc. (聯亞藥) |
1.59 |
4.27 |
Source: MOPS, compiled by IBMI & RBMP
