Though the medical cosmetic surgery sector may seem a tough business to some, the market itself has enjoyed healthy growth over the years. According to the chairman of DMT, Taiwan's market for injection treatments has enjoyed an annual growth rate of 30 percent while general procedures have grown 20 percent. And Sung of the CSCSM predicts the market won't reach saturation for another five to 10 years.
While Taiwan is currently well placed in this market, it cannot rest on its laurels if it is to continue attracting tourists seeking cosmetic surgery to these shores.
"Taiwan does stand at a vantage point with superior services and well-trained doctors with great skills and experience. But whether or not the idea of medical cosmetics-based tourism can materialize depends on the government's support, the collaboration between the public and private sectors and the integration of related business and industries such as spas," Cheng said.
To Sung, the situation is worrying as he believes the burgeoning medical cosmetic business is expanding at the expense of traditional medicine, as this promising trade attracts more and more young doctors seeking a way out of the NHI system.
"NHI functions like a severe winter that changes the whole eco-system since only the toughest plants can survive the harsh weather. And in the game of survival, traditional medicine is likely to lose. Sometimes I wonder how many of my colleagues in traditional medicine can resist the temptation and stay where they are," Sung said.
RSS