Taiwanese people are becoming more health conscious these days and many are turning to Traditional Chinese Medicine (TCM), which has been gaining popularity worldwide.

A Singapore health firm is hoping to tap into this potentially lucrative market by opening its first branch in Taipei, the capital of Taiwan.

Taiwanese people are among the most health conscious in Asia.

And with the nation's economy doing well, consumers now have more money to spend on a healthier lifestyle.

Many are relying on TCM to improve their well-being and treat various symptoms.

A Singapore healthcare company Eu Yan Sang now hopes to win over the Taiwan market by introducing its own line of TCM products.

The company launched its first retail outlet in Taiwan in the capital's upmarket shopping area of Tien-Mu.

Richard Eu, Eu Yang Sang's Group CEO, says: "We are extremely excited about the prospect of introducing Singaporean Traditional Chinese Medicine to the people of Taiwan. TCM is an accepted healthcare concept in Taiwan."

The shop will sell Chinese herbs, medicine, health foods and supplements.

Ninety eight percent of Taiwan's population of 23 million are ethnic Chinese.

This is a potentially huge market for TCM.

Singapore Representative to Taiwan, Stanley Loh, applauds the expansion of Singapore firms to overseas markets, especially in greater China.

He says: "We are very glad to see Singapore companies expanding overseas. Our government encourages it. And Taiwan people speaks the same language and shares the same culture as us."

Amid a growing demand for TCM, the company hopes to establish more outlets in the island in the future.