New Healthcare market report from Business Monitor International: "Hong Kong Pharmaceuticals & Healthcare Report Q1 2013"
Boston, MA -- (SBWIRE) -- 03/07/2013 -- BMI View: Hong Kong will continue to attract pharmaceutical investors' interest due to the population's affluence and its close proximity to China. However, we caution that the lack of significant development in terms of biopharmaceutical advancement in comparison to regional peers such as Singapore, Taiwan, China and South Korea means that the attractiveness of the market will dwindle over the longer term, should other developing countries such as Indonesia, Malaysia and the Philippines succeed in implementing their biotechnology agendas.
Headline Expenditure Projections
- Pharmaceuticals: HKD9.58bn (US$1.23bn) in 2011 to HKD10.37bn (US$1.33bn) in 2012; +8.2% in local currency terms and +8.4% in US dollar terms. Forecast broadly unchanged from Q412.
- Healthcare: HKD100.80bn (US$12.95bn) in 2011 to HKD106.69bn (US$13.73bn) in 2012; +5.9% in local currency terms and +6.0% in US dollar terms. Forecast broadly unchanged from Q412.
- Medical devices: HKD4.34bn (US$558mn) in 2011 to HKD4.64bn (US$598mn) in 2012; +7.0% in local currency terms and +7.2% in US dollar terms. Forecast unchanged from Q412.
View Full Report Details and Table of Contents
Risk/Reward Ratings: Hong Kong maintains its rank at seventh out of the 18 key regional markets in BMI's Q113 Asia Pacific Pharmaceutical Risk/Reward Ratings. Its overall score of 60.2 is supported by the country's relatively stable political and economic situation, and its appreciation of a strong legal framework. However, the size of its pharmaceutical market is restricted by its small population.
Key Trends And Developments
- In October 2012, the Society of Hospital Pharmacists of Hong Kong (SHP) said many private healthcare clinics offering cancer treatment in Hong Kong are potential 'death traps', China Daily reported. The SHP said many cancer treatment clinics have insufficient safety measures, and that most of the 19 private clinics in Central Hong Kong have failed to deliver safe treatment to cancer patients entailing intravenous infusion services. It also warned that 90% of anti-cancer drugs used in the clinics may be hazardous to health. The SHP requested for the Health Steering Committee to review the safety regulations for private healthcare facilities and extend its control on clinics offering intravenous drugs for chemotherapy.
- In September 2012, Hong Kong's environment ministry gave approval to China National Biotec Group (CNBG) to raise up to US$1.58bn in an initial public offering (IPO). CNBG, which manufactures vaccines and blood products, is planning to raise US$1.3 - 1.6bn through the Hong Kong IPO. However, the public offering is subject to clearance by the China Securities Regulatory Commission. CNBG has not yet announced a date for the offering.
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