The "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Republic of China (Taiwan)" is an essential source of information and analysis on the healthcare, regulatory and reimbursement landscape in the Republic of China (Taiwan). Taiwan's population increased slightly between 2008 and 2013 from 23.0 to 23.4 million, mainly due to a rising life expectancy. However, the birth rate decreased at a negative Compound Annual Growth Rate (CAGR) of 0.2%. The pharmaceutical market was estimated at $5.4 billion in 2013 and is projected to reach $8.4 billion by 2020 at a CAGR of 6.4%. The medical device market was worth $2.2 billion in 2013 and is projected to reach $3.1 billion by 2020 at a CAGR of 5.3%, primarily attributed to an increasingly elderly population, and universal healthcare coverage. Government initiatives, such as a reduction in income tax for new pharmaceutical companies that establish themselves in Taiwan, are intended to encourage foreign companies to invest and will further boost the market.