Industry Watch
Taiwan business watch H1, 2023: Biomedical sector by revenue
2023-07-11

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  • The currency used here is Taiwan Dollar (TWD).
  • Charts and tables shown below covered 218 companies listed in Taipei Exchange (TPX) and trading in OCT and emerging stock markets.
  • Total revenue of 218 companies in H1 increased by 6.68% to $172.55 billion, as opposed to $161.75 billion last year.
  • Dyaco International, Johnson Health Tech and Chi Hua Fitness have moved from the category “healthcare” to “sports and recreation” since July 2023. The data regarding the above three companies in this article shall be referred to “Workout Equipment & Health Supplement”.
Biomedical Sector by Revenue, H1, 2023 (Listed, Unlisted and Emerging Stocks Combined)
Business focuses / product types H1, 2023 H1, 2022 YoY Growth (%)
No. of Company Total Revenue (TWD, 100M) Average Revenue (TWD, 100M) Total Revenue (TWD, 100M)
Bio-Pharmaceuticals 75 486.15 6.48 396.9 22.49
Medical Device R&D, Manufacturing 66 337.87 5.12 371.8 -9.13
Workout Equipment & Health Supplement 16 317.61 19.85 299.6 6.01
Pharmacy & Distributor 16 295.49 18.47 276.2 6.98
Aesthetic Medicine & Beauty Care 11 120.61 10.96 104.5 15.42
APIs 7 65.99 9.43 59.9 10.17
Agriculture & Agricultural Science 8 64.36 8.04 71.4 -9.86
Genetic Testing & Wellness Check 19 37.48 1.97 37.2 0.75
Total 218 1725.54 7.92 1617.5 6.68

Top 20 by revenue, H1, 2023
Rank Company Total Revenue
(TWD, 100M)
YoY Growth (%)
1 Johnson Health Tech .Co., Ltd. (喬山) 156.54 11.02
2 Lotus Pharmaceutical Co., Ltd. (美時) 89.66 47.66
3 Bora Pharmaceuticals Co., LTD. (保瑞) 79.19 220.54
4 Great Tree Pharmacy Co., Ltd. (大樹) 78.8 9.88
5 Grape King Bio Ltd (葡萄王) 48.84 2.29
6 China Chemical & Pharmaceutical Co., Ltd. (中化) 42.31 4.83
7 Excelsior Medical Co., Ltd. (佳醫) 40.3 19.14
8 TCI Co., Ltd. (大江) 38.42 9.5
9 Dyaco International Inc. (岱宇) 37.44 2.94
10 MedFirst Healthcare Services, Inc. (杏一) 35.95 -1.65
11 YungShin Global Holding Corporation (永信) 33.65 -13.92
12 Pegavision Corporation (晶碩) 30.75 5.92
13 Standard Chemical & Pharmaceutical Co. Ltd. (生達) 30.02 10.42
14 TaiDoc Technology Corporation (泰博) 27.28 -49.67
15 Synmosa Biopharma Corporation (健喬) 25.61 26.42
16 Cowealth Medical Holding Co., Ltd. (合富-KY) 24.93 -9.45
17 TTY Biopharm Company Limited (東洋) 24.31 10.37
18 Orient EuroPharma Co., Ltd. (友華) 22.84 -2.65
19 St.Shine Optical Co.,Ltd. (精華) 22.06 -14.21
20 PharmaEssentia Corporation (藥華藥) 21.52 75.07

Top 20 by revenue, H1, 2023: Listed Company
Rank Company

Total Revenue

(TWD, 100M)

YoY Growth (%)
1 Johnson Health Tech .Co., Ltd. (喬山) 156.54 11.02
2 Lotus Pharmaceutical Co., Ltd. (美時) 89.66 47.66
3 Grape King Bio Ltd (葡萄王) 48.84 2.29
4 China Chemical & Pharmaceutical Co., Ltd. (中化) 42.31 4.83
5 Excelsior Medical Co., Ltd. (佳醫) 40.3 19.14
6 Dyaco International Inc. (岱宇) 37.44 2.94
7 YungShin Global Holding Corporation (永信) 33.65 -13.92
8 Pegavision Corporation (晶碩) 30.75 5.92
9 Standard Chemical & Pharmaceutical Co. Ltd. (生達) 30.02 10.42
10 Chlitina Holding Limited (麗豐-KY) 20.74 15.44
11 Formosa Laboratories, Inc. (台耀) 20.19 20.66
12 CHC Healthcare Group (承業醫) 16.86 29.89
13 Jourdeness Group Limited (佐登-KY) 15.97 23.44
14 All Cosmos Bio-Tech Holding Corporation (全宇生技-KY) 15.84 -0.32
15 Sinphar Pharmaceutical Co.,Ltd. (杏輝) 14.98 8.25
16 Wellell Inc. (雃博) 14.03 10.02
17 ScinoPharm Taiwan, Ltd. (神隆) 14.03 -9.08
18 Chunghwa Chemical Synthesis & Biotech Co., Ltd. (中化生) 12.92 16.5
19 Nang Kuang Pharmaceutical Co., Ltd. (南光) 10.97 29.25
20 Visco Vision Inc. (視陽) 10.59 -22.99

Top 20 by revenue, H1, 2023: OTC Company
Rank Company Total Revenue (TWD, 100M) YoY Growth (%)
1 Bora Pharmaceuticals Co., LTD. (保瑞) 79.19 220.54
2 Great Tree Pharmacy Co., Ltd. (大樹) 78.8 9.88
3 TCI Co., Ltd. (大江) 38.42 9.5
4 MedFirst Healthcare Services, Inc. (杏一) 35.95 -1.65
5 TaiDoc Technology Corporation (泰博) 27.28 -49.67
6 Synmosa Biopharma Corporation (健喬) 25.61 26.42
7 Cowealth Medical Holding Co., Ltd. (合富-KY) 24.93 -9.45
8 TTY Biopharm Company Limited (東洋) 24.31 10.37
9 Orient EuroPharma Co., Ltd. (友華) 22.84 -2.65
10 St.Shine Optical Co.,Ltd. (精華) 22.06 -14.21
11 PharmaEssentia Corporation (藥華藥) 21.52 75.07
12 Universal Vision Biotechnology Co., Ltd. (大學光) 20.28 24.8
13 Hi-Clearance Inc. (杏昌) 19.29 -29.65
14 Rossmax International Ltd. (優盛) 19.18 -13.03
15 Formosa Optical Technology Co.,Ltd. (寶島科) 19.16 24.82
16 United Orthopedic Corporation (聯合) 18.61 24.17
17 ShareHope Medicine Co., Ltd. (盛弘) 18.35 -14.91
18 Morn Sun Feed Mill Corp. (茂生農經) 14.24 -13.03
19 BenQ Medical Technology Corporation (明基醫) 14.21 0.33
20 INTAI Technology Corporation (鐿鈦) 12.73 17.94

Top 20 by revenue, H1, 2023: Emerging Stock (Taipei Exchange)
Rank Company Total Revenue (TWD, 100M) YoY Growth (%)
1 Norbel Baby Co., Ltd (諾貝兒) 18.59 -16.55
2 WE CAN MEDICINES CO LTD (佑全) 15.39 -10.78
3 CH Biotech R&D Co., Ltd. (正瀚) 12.6 -2.14
4 Vizionfocus Inc. (望隼) 10.62 38.61
5 DV Biomed Co., Ltd. (麗彤) 8.13 -11.92
6 Healthconn Corp. (康聯生醫) 6.21 -25.09
7 Vetnostrum Animal Health Co., Ltd.(永鴻生技) 5.93 -2.14
8 Handa Pharmaceuticals, Inc. (漢達) 5.61 1268.55
9 DAWUSHAN FARM TECHNOLOGY CO., LTD.(大武山) 4.68 -13.5
10 TCM Biotech International Corp. (泰宗) 4.65 24.74
11 Anxo Pharmaceutical Co., Ltd. (瑩碩生技) 4.45 20.16
12 Orient Pharma Co., Ltd. (友霖) 4.27 44.78
13 Qing Song (青松健康) 4.08 54.32
14 Concord Medical Co., Ltd. (康科特) 4.03 -8.95
15 Allied Biotech Corporation (立弘) 3.79 5.44
16 Unicon Optical Co., Ltd. (優你康) 3.71 -10.95
17 Sunder Biomedical Tech. Co., Ltd. (善德生技) 3.65 -35.84
18 Amed Co., Ltd. (安美得) 3.52 13.87
19 Winston Medical Supply Co.,Ltd (溫士頓) 3.39 18.47
20 Perfect Medical Industry Co., Ltd. (普惠醫工) 3.36 2.03

Source: MOPS; compiled by IBMI & RBMP

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