BMI View: Hong Kong's medical device market will continue to expand, despite muted economic growth.
The aging population, continued state investment in the health sector and increased private sectorinvolvement will drive market growth. With only limited domestic production, the market will remainheavily reliant on imports.
Latest Updates And Key Forecasts
We maintain our forecast s and project that the market to expand at a 2016-2021 CAGR of 6.0% in localcurrency terms, taking the value to HKD6.7bn (USD862.5mn) by 2021.
Import performance will continue to pick up, reflecting a resilience in Chinese demand for productsrouted through Hong Kong and the ongoing investment in the local public health infrastructure. Based oncollated monthly data, imports increased by 9.4% y-o-y in Q416, and by 14.5% to USD2.4bn in the 12months ending December 2016.