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Market Entry - Wireless Healthcare Industry in Hong Kong: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

On the basis of technology, the wireless health market is further segmented into WPAN, WLAN/WiFi, WiMAX, and WWAN. The WPAN technology market segment accounted for the largest share of the global wireless health market, in 2015, due to low cost and highly secure facilities. WPAN links wireless health devices with computers, increasing accessibility to care. It is further segmented into Bluetooth, RFID, Ant+, Zigbee, Z-wave, and UWB. The Bluetooth segment accounted for the largest share of the market in 2015. Owing to the relatively slow deployment of managed telehealth systems, which is in part due to a reluctance from health providers to move past trials; issues with reimbursement and stringent regulations related to the use and storage of medical data; medical devices used by consumers to independently monitor their health shall provide the biggest uptake of wireless technology in consumer health devices, over the next five years. Federal mandates such as ‘meaningful use stage II’ and growing adoption of wireless health devices among the elderly, and patients suffering from chronic illnesses are some of the factors driving the growth of the market. In the developed regions, the market is estimated to grow rapidly over the forecast period due to rising internet penetration, growing medical tourism, and increasing government initiatives for e-health. Some of the major players in this market are All Scripts Healthcare Solutions Inc., AT &T Inc., Cerner Corporation, Omron Corporation, Philips Healthcare, Verizon Communications Inc., Qualcomm Inc., Aerohive Networks Inc., Vocera Communications Inc., and Alcatel-Lucent.

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.

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