Hong Kong Clinical Trials Industry | Opportunities & Forecast to 2020 |
Market Entry - Clinical Trials Market in Hong Kong: Analysis of Growth, Trends and Progress (2016 - 2021)

PUBLISHED

DEC 2017

Market Entry - Clinical Trials Market in Hong Kong: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

Based on indication, the global clinical trials market is classified as blood disorders, ophthalmology, autoimmune diseases, circulatory diseases, cancer, genitourinary diseases, congenital diseases, musculoskeletal diseases, central nervous system (CNS), infections, dermatology, metabolic disorders, cardiovascular system (CVS) diseases, gastrointestinal diseases, mental disorders etc. Being a relatively expensive process, many companies have outsourced their clinical trial activities to contract research organizations (CROs), which provide services such as clinical trial management, clinical research, and preclinical research. Factors such as advancement in technology and increasing demand for innovative solutions in the healthcare industry are driving the market of global clinical trials. On the other hand, factors such as high cost and stringent regulations are restraining market. The clinical trials market in the first world countries has seen major growth due to the rapid technological advancements and ample availability of funds. The developing countries demonstrate impressive potentials and are expected to record the highest growth rate. Countries such as India are attractive markets, due to the availability of skilled practitioners and government support in terms development of outsourcing hubs, thus attracting pharmaceutical and biotechnology companies to outsource clinical trial activities to CROs in this region. Some of the market leaders contributing to this market include Eli Lilly and Company, Novo Nordisk A/S, Ranbaxy Laboratories Ltd., Sanofi-Aventis A.S., and Roche Group.

About the Geography

Hong Kong is a special administrative region of the People's Republic of China. It is the world’s freest and eighth largest economy. Hong Kong has no tariffs on imported goods and levies excise duty only on hydrocarbon oil, hard alcohol, tobacco, and methyl alcohol. It is the second largest recipient as well as supplier of FDI in the world. The country was ranked fifth easiest country to do business, by Doing Business.

Hong Kong acts as a bridgehead to China’s production, has an efficient banking system, favorable tax measures, excellent infrastructure, strong government, light legislations, well-educated skilled workers, and freedom of information. In 2003, Hong Kong SAR government launched CIES facilitated entry for foreign investors through investment into permissible assets, without the need to establish or join a business. Foreign companies can be set up freely, register their brands and the director of the company need not be a citizen or resident of Hong Kong. The only drawbacks are the high cost of living, elevated salaries, dependence on the financial sector, and exposure to global market risks.

With the presence of all major firms in the small region of Hong Kong, conducting business becomes very easy. Hong Kong is deemed to be the safest place to invest in the South-East Asia region.

 

Component Name

Unit

GDP (USD billion)

310

GDP Annual Growth Rate

1.7

GDP Per Capita

36117

Unemployment Rate

3.4

Wages

1940.53

Inflation Rate

4.3

Consumer Price Index (CPI)

103

Interest Rate

0.75

Loans to Private Sector (USD billion)

996.86

Balance of Trade (USD billion)

4.137

Business Confidence

-6

Manufacturing PMI (Index Points)

49.3 Index Points

Ease of Doing Business

5

Competitiveness Rank

9

Corruption Rank

18

Consumer Confidence

87

Consumer Spending (USD billion)

51.799

Bank Lending Rate (Consumers)

5

Corporate Tax Rate

16.5

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Clinical Trials Market (USD millions)

                4.1 By Phases

                4.2 By Design

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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