Staff reporter
,
Hongkong
Photo by Nwato
However, competition from adjacent markets poses downside risks.
It is expected that Hong Kong’s pharmaceutical market will reach US$3 billion by 2028, with a compound annual growth rate of 8.1% in US dollars.
BMI reports that Hong Kong remains attractive for clinical trials, supporting the expansion of the pharmaceutical industry.
On November 21, relevant departments announced the inauguration of the Greater Bay Area International Clinical Trial Research Institute in the Loop Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone.
The institute will house a biobank, managed by the Hospital Authority and the Chinese University of Hong Kong, with the capacity to store more than 400,000 biological samples.
However, Hong Kong’s smaller population and competition from neighboring markets such as mainland China and South Korea pose downside risks.
These regions already have well-established clinical trial infrastructure and global networks, which may divert investment away from Hong Kong.
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