BMI View: Hong Kong’s attractiveness as a pharmaceutical market hinges largely on its ageing and affluent demographics, its proximity to China as well as the stable political and economic environment. However we highlight that its long-term attractiveness is limited by its small market size and the increasing openness of the Chinese market, which decreases the necessity for firms to set up bases in Hong Kong. Headline Expenditure Projections ? Pharmaceuticals: HKD10.31bn (US$1.33bn) in 2012 to HKD10.77bn (US$1.39bn) in 2013; +4.5% in local currency terms and +4.3% in US dollar terms. Forecast broadly in line with Q212. ? Healthcare: HKD112.38bn (US$14.49bn) …
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