£810 / $1295 / €985
THE PHARMACEUTICAL MARKET: HONG KONG - REVIEW
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 Q4 12.
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 Q4 12.
Medical devices: HKD4.34bn (US$558mn) in 2011 to HKD4.64bn (US$598mn) in 2012; +7.0% in local currency terms and +7.2% in US dollar terms. Forecast unchanged from Q4 12.
Risk /Reward Rat ings : Hong Kong maintains its rank at seventh out of the 18 key regional markets in BMI's Q113 Asia Pacific Pharmaceutical Risk/Reward Ratings. Its overall score of 60.2 is supported by the country's relatively stable political and economic situation, and its appreciation of a strong legal framework. However, the size of its pharmaceutical market is restricted by its small population.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.