2022 Bonfident Healthcare Ltd. All rights reserved.
Hong Kong Market overview
Expanding demand
According
to
the
Food
and
Health
Bureau
of
Hong
Kong,
the
total
public
and
private
health
expenditure
in
Hong
Kong
is
around
HK$189.6
billion
(US$24.3
billion)
in
2019-
20, representing 6.8% of GDP.
The
number
of
elderly
people
aged
65
or
above
is
projected
to
increase
from
20%
of
the
total
population
in
2021
to
33.3%
in
2039.
An
ageing
population
and
increased
health
consciousness
among
consumers
are
boosting
the
demand
for
healthcare
services
and
products.
Hong
Kong’s
medical
and
healthcare
industry
can
be
divided
into
two
major
categories,
namely
the
medical
&
healthcare
equipment
and
devices
sector,
and
the
biotechnology, medical & healthcare services sector.
Distribution channels
Medical
equipment
is
mainly
sold
directly
to
hospitals
and
clinics,
while
healthcare
equipment
is
mostly
distributed
to
department
stores,
chain
stores
and
supermarkets
via
local or overseas trading companies.
Import and Export Opportunities
In
2021,
Hong
Kong’s
total
exports
of
medical
and
healthcare
equipment
increased
by
7.5%.
Exports
to
the
mainland
also
increased
by
4.4%.
Notably,
exports
to
the
ASEAN
and
India
increased
significantly
by
47.1%
and
108.8% respectively.
Hong
Kong
is
an
important
gateway
for
foreign
manufacturers
of
medicine
products,
medical
devices
into
the
GBA
market.
Hong
Kong
registered
drugs
with
urgent
clinical
use
and
medical
devices
used
in
Hong
Kong
public
hospitals
are
permitted
in
designated
healthcare
institutions
operating
in
the
nine
Mainland
cities
of
the
Guangdong-Hong Kong-Macao Greater Bay Area.
<<Source: The Hong Kong Trade Development Council>>