DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/d0895f/the_pharmaceutical) has announced the addition of the "The Pharmaceutical Market: Hong Kong" report to their offering.
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 rate in the Asia Pacific region in 2016.
The Hong Kong pharmaceutical market is attractive, despite a small population and market size. It is geographically well located, bordering the world's fastest-growing economy, China, as well as having a close proximity to many emerging economies. The economy is also influenced heavily by China's and should experience growth in the forecast period. The healthcare system is of an extremely high standard and is one of the most advanced in the Asia Pacific region. This is also likely to improve in the forecast period, as the government increases its health expenditure. The pharmaceutical market is estimated to grow at a fairly high single-digit CAGR in US dollar terms between 2011 and 2016.
Although the Hong Kong biologic sector does not form a large part of the pharmaceutical market, there has been an increase in joint-venture activities in recent months. Hong Kong's largest domestic company, CK Life Sciences, is growing fast as a result of aggressive acquisitions.
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Source: Espicom Business Intelligence Ltd