President Tsai Ing-wen (蔡英文) attended the 2024 Institute for Biotechnology and Medicine Industry’s (IBMI) conference on Monday, with its relocation ceremony held simultaneously. The event was also joined by IBMI President Wong Chi-huey (翁啟惠), National Development Council Minister Kung Ming-hsin (龔明鑫), and other government officials.
Tsai recalled in her remarks that the IBMI was the first stop of her industrial tour after being elected in 2016. She mentioned that it is an important partner of the government in promoting the biotechnology and healthcare industry.
Tsai further noted that the IBMI has not only proposed crucial strategies for Taiwan’s industrial development but has also organized international medical technology exhibitions to promote the globalization of the country’s biotechnological industry over the past eight years.
In his opening speech, Wong mentioned that global healthcare expenditures continue to rise by about 5% annually due to the aging population and are expected to reach around US$15 trillion by 2030, accounting for approximately 12% of the global GDP. He emphasized that among these expenditures, early diagnosis and prevention technology investments are growing the fastest, reaching about US$4 trillion.
Wong highlighted the evolution of the biomedical industry from traditional disease treatment to precision health industries focused on prevention and stressed that it presents opportunities for Taiwan’s Information and Communications Technology (ICT) sector.