Nearly 70% of respondents are bullish on healthcare technology, particularly in the three major application areas of AI, machine learning and voice recognition, according to the "Sustained turbulence in a postpandemic market" survey released by KPMG on 22 June.

The market is expected to remain volatile for a while, but valuations have already risen by 15-20 per cent from their lows, and some companies may quickly seek IPOs or mergers and acquisitions if the overall economy gradually stabilises, according to KPMG's chair of the Healthcare & Life Sciences services team.

According to the KPMG report, professional investors continue to be bullish on the performance of deals in 2023, with 60% of investors believing that the number of deals in 2023 will exceed that of 2022, especially with the combination of new drug development and M&A issues, the overall industry outlook is positive.

Mr. Astor Kou, Audit Partner, Co-Head of Healthcare & Life Science Service, cautioned that although the pharmaceutical industry is a rigid demand sector with relatively little impact from the economic downturn, companies still need to be aware of major financial shocks and their valuations and re-examine their business models.

The KPMG Report also summarises three major directions for smart healthcare-related transactions in 2022. The report highlights that the global biopharmaceutical market will continue to perform relatively well, despite a 26% decline in biotech deals by 2022. Acquirers continue to focus on technology innovation and major R&D projects, including product acquisitions, licensing deals and strategic partnerships.

According to Jarret Su, Co-Head of Healthcare & Life Science at KPMG, it is believed that the introduction of the Act for the Development of Biotech and Pharmaceutical Industry in Taiwan, coupled with the passage of the dual bill on regenerative medicine by the Executive Yuan, will be a catalyst for the development of biomedical integration and advanced medical technologies in Taiwan.