Healthcare for an aging population

Hong Kong has one of the most rapidly ageing populations in the world. With post-war baby boomers entering old age and rising life expectancy at birth, the number of persons aged 65 and over is projected to nearly double over the next 25 years. increasing from 1.45 million in 2021 to 2.74 million in 2046. The corresponding proportion of the population is projected to increase from 20.5% to 36.0%, meaning more than one in every three Hong Kong people will be an elderly.
Hong Kong is designed as the MedTech development hub in the Guangdong–Hong Kong–Macao Greater Bay Area. The complicated regulatory and business landscape in China has been a hurdle for Swedish SMEs in the healthcare industry, however the "Hong Kong, Macao Medicine and Equipment Connect” policies provide a gateway to the Chinese market via Hong Kong. Registered healthcare products (for clinical use and under urgent need) in Hong Kong can be used by designated medical institutions in GBA after approval, allowing Hong Kong to serve as a first step for Swedish companies looking at the Chinese market.

The Government has devoted significant resources to healthcare. The 2024-25 annual subvention for the Hospital Authority will be HKD95.4 billion (SEK 137 billion), an increase of 2% compared to the 2023-24 revised provision.
The Hospital Authority will step up its efforts in promoting the sustainable development of public healthcare, including introducing smart hospitals initiatives in different clusters, enhancing tele-health and drug delivery services in specialist out-patient clinics (SOPCs), and improving patients' experience and operational flow with advanced technology. At the same time, the Hospital Authority will enhance SOPCs service, including nurse and pharmacist led clinic service, thereby providing more treatment choices to patients.
Opportunities exist in drugs, medical devices, and age-tech, but also for technology and innovations that can help hospitals to enhance efficiency and reduce manpower.

For more information contact Johan Thurée at johan.thuree@business-sweden.se.