New Market Report: Hong Kong Pharmaceuticals & Healthcare Report Q2 2015

The Hong Kong government will continue to shift healthcare provision towards the private sector due to the growing financial strain and an overburdened public healthcare system. While this could create cost barriers to medicines, we highlight that the strong earning power of the majority of the population as well as a robust private healthcare system will continue to offer strong commercial opportunities for drugmakers.

Headline Expenditure Projections

* Pharmaceuticals : HKD12.07bn (USD1.55bn) in 2014 to HKD13.10bn (USD1.69bn) in 2015; +8.5% in local currency and US dollars terms
* Healthcare: HKD130.60bn (USD16.81bn) in 2014 to HKD139.78bn (USD17.99bn) in 2015; +7.0% in local currency and US dollars terms

Risk/Reward Index

Full Report Details at
- http://www.fastmr.com/prod/956862_hong_kong_pharmaceuticals_healthcare_report_q2.aspx?afid=301

Hong Kong's Pharmaceutical Risk/Reward Index (RRI) score for Q215 is 64.6 out of 100 in our newly improved RRI system. The country scores above average for most indicators and sub-indicators, including per capita pharmaceutical expenditure, sector value growth and pensionable population. Consequently with this high score, Hong Kong is ranked fifth, above China, out of the 19 key Asia Pacific markets.

Key Trends And Developments

* In January 2015, Australia-based Novotech has expanded its operations in Hong Kong with a permanent office. C John Molle stated that Hong Kong is a significant market in high demand from US and Europe-based pharma and biotech sponsors. In addition, the city is officially recognised by the China Food and Drug Administration for conducting clinical trials for drug registration purposes in mainland China in certain therapeutic areas. In addition, the timeline for regulatory approval is faster in Hong Kong at about four months, which helps companies to apply for approval and negotiate contracts at the same time.
* In December 2014, reinsurance giant Swiss Re is exploring a new product that will accept applications from people aged up to 75 years, against a general market trend of not covering people older...

The Hong Kong Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Hong Kong Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Hong Kong pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's pharmaceutical and healthcare market forecasts for Hong Kong, to test other views - a key input for successful budgeting and strategic business planning in the Hong Kong pharmaceutical and healthcare market.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Bulgaria Pharmaceuticals & Healthcare Report Q2 2015
- South Korea Pharmaceuticals & Healthcare Report Q2 2015
- Peru Pharmaceuticals & Healthcare Report Q2 2015
- Nigeria Pharmaceuticals & Healthcare Report Q2 2015
- Mexico Pharmaceuticals & Healthcare Report Q2 2015