Additional InformationTHE PHARMACEUTICAL MARKET: HONG KONG - REVIEW
Politically, the LegCo is still under the watchful eye of Beijing, and it has been subject to a number of protests over the past few years from the pro-democratic parties. Economically, the Economist Intelligence Unit (EIU) projects that Hong Kong will be the fifth smallest economy in the Asia Pacific region covered by Espicom in 2016. However, in per capita terms, Hong Kong will rank the fourth highest in the Asia Pacific region. Legally, although laws exist for IP protection, piracy is common in the country and the authorities find it hard to prosecute. Demographically, Hong Kong is essentially a city state, and has the third smallest population in the Asia Pacific region. The elderly population is rising rapidly; it is expected to be the second highest proportion in the Asia Pacific region in 2016.
The Hong Kong pharmaceutical market is expected grow at a mid-single digit CAGR between 2011 and 2016. Hong Kong will have the third smallest pharmaceutical market in the Asia Pacific region covered by Espicom in 2016. In per capita terms, Hong Kong is projected to rank as the seventh highest in the Asia Pacific region by 2016. The majority of drugs imported each year are intended for re-export, principally to China, and are not destined for the Hong Kong market. Just under two-thirds of Hong Kong’s annual drug imports are re-exported. As a result, the balance of pharmaceutical trade remains negative. In 2010, the deficit more than doubled, with retail medicaments accountable for over 90% of the total.
Although the Hong Kong biologic sector does not form a large part of the pharmaceutical market, there has been an increase in joint-venture activity. In October 2011, Versitech entered into a licensing agreement with US-based Alios BioPharma for novel flu vaccines. Hong Kong’s largest domestic company, CK Life Sciences, is growing fast as a result of aggressive acquisitions and operates R&D facilities in Hong Kong. However, branded generics remain the largest sector in Hong Kong, dominated by local manufacturers, which have been operating in the market for many years. The tightening of regulations on generic drugs may adversely affect the generic sector, as the government seeks to enforce mandatory bioequivalence tests as a registration requirement by 2016.
ENHANCED STRATEGIC INTELLIGENCE
Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.
More Prescription Drugs reports by Espicom Healthcare Intelligence
Understanding the US's Regional Healthcare Markets by Espicom Healthcare Intelligence
Understanding the US's Regional Healthcare Markets
For years to come, the US healthcare market will remain the most attractive to providers of medical services. Considerable ...
The Pharmaceutical Market: Brazil by Espicom Healthcare Intelligence
The Pharmaceutical Market: Brazil
OVERVIEW OF THE PHARMACEUTICAL MARKET IN BRAZIL The Brazilian pharmaceutical market remains our favourite regional market in Latin America due to ...
Inhalation & Nasal Spray Generic Drugs 2013 by Espicom Healthcare Intelligence
Inhalation & Nasal Spray Generic Drugs 2013
Around three quarters of the US$36.4 billion respiratory prescription drugs market comprises drugs that are delivered using inhalation ...
See all reports like this >>
Middle East North Africa Pharmaceutical Market Forecasts to 2018 by Espicom Healthcare Intelligence
Middle East North Africa Pharmaceutical Market Forecasts to 2018
The global pharmaceutical market is forecast to be worth over US$1,250 billion by 2018 - but ...
More Hong Kong Prescription Drugs reports
Pharmaceuticals and Healthcare Report - Hong Kong Q4 2014 by Business Monitor International
Pharmaceuticals and Healthcare Report - Hong Kong Q4 2014BMI View: Hong Kong will remain as an attractive destination for foreign pharmaceutical firms due torising medical ...
Hong Kong Pharmaceuticals and Healthcare Report Q3 2014 by Business Monitor International
Hong Kong Pharmaceuticals and Healthcare Report Q3 2014BMI View: An ageing population in Hong Kong offers growth opportunities for pharmaceutical firms giventhe expected rise in ...
See all reports like this >>
The Pharmaceutical Market: Hong Kong by Espicom Healthcare Intelligence
Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting ...