China’s 14th Five-Year Plan supports Hong Kong’s development into an international innovation and technology hub, which will provide new opportunities in healthcare and promote the city as an international health innovation hub.
Global healthcare leaders, medical product and service traders, start-ups and investors gathered in Hong Kong for the third International Healthcare Week (IHW), organised by the Hong Kong Trade Development Council (HKTDC), to engage in conversation on healthcare industry developments and trending topics.
Among the flagship events, the Asia Summit on Global Health (ASGH) attracted over 2,800 participants from 40 countries and regions, while the Hong Kong International Medical and Healthcare Fair welcomed more than 12,000 buyers from 60 countries and regions.
Participants seized the opportunity to network, with more than 360 deal-making sessions and over 650 business matching meetings facilitating cross-sector collaboration.
At ASGH, over 80 experts, researchers, medical professionals, business leaders, investors and representatives from the healthcare industry worldwide discussed diverse forward-looking issues, ranging from healthcare innovation, innovative drugs and healthcare development to healthcare investment prospects and healthcare insurance.
At the first plenary on opportunities to co-create a synergistic health innovation ecosystem, Prof Lo Chung-mau, Secretary for Health of the Hong Kong SAR, said: “Hong Kong is on a road to reform its medical product registration and innovate biomedical research in the coming decade.” He is confident the city will achieve its goal of developing into a health and medical innovation hub.
Another highlight was the second plenary where Prof Roger Kornberg, Nobel Laureate in Chemistry 2006, highlighted biotech advances. He pointed out: “The chief limiting factor in research today is financial support. The Hong Kong government has taken important steps very recently and announced a programme to invest HK$6 billion [US$770 million] in a research centre for fundamental studies. It’s a good beginning, but it should not end there.”
The What’s Next in China’s Healthcare Arena session analysed healthcare developments and the investment environment in Mainland China. Antony Leung, Group Chairman of Nan Fung Group, pointed out that a good patient experience is the area the industry can explore and invest in.
During the Advancing Healthcare in Asia Through Innovation session, Yasushi Okada, Representative Corporate Officer and COO of Eisai Co, Ltd, said Hong Kong continues to be an important hub for East Asia and ASEAN, playing a vital role in the advancement of science, technology, finance and economy.
ASGH deal-making matched healthcare investment projects with investors, including angel investors, venture capitalists, corporate venture capitalists, private equity firms and family offices. More than 360 one-on-one sessions between investors and project owners took place.
To foster collaboration across healthcare, including ophthalmology, gastrointestinal well-being, AI, innovative drugs and more, this year's Summit facilitated the signing of several cooperation agreements:
-Zhaoke (Hong Kong) Ophthalmology and PT Erela Indonesia;
-Optima International and TRB Chemedica (Thailand);
-Gense Technologies and EC Healthcare;
-Schweitzer Health Biotech Co., Ltd and DKSH Hong Kong;
-PanMediso Capital Limited and The Hong Kong Polytechnic University;
-AstraZeneca and Centre for Translational Stem Cell Biology (CTSCB);
-Uni-Bioscience Group, Great Bay Bio and Pebble Accelerator
ASGH also hosted the launch of LiverCare - Hong Kong 10 Million Liver Scans Program. The Hong Kong LiverCare Alliance plans to carry out 10 million early screening tests for liver disease to raise public awareness of liver disease prevention and treatment.
The Medical Fair, co-organised by the HKTDC and Hong Kong Medical and Healthcare Device Industries Association (HKMHDIA), brought together some 300 exhibitors from eight countries and regions, including six local universities, the Hong Kong Science and Technology Parks (HKSTP) and healthcare enterprises led by HKMHDIA.
Welcoming a successful fair, Dr Cheng Man-Hong, Director of medical equipment company Maxwin & Honwell Limited exhibiting at the fair for the first time, said: “We have connected with over 150 new customers, and we believe that more than half of them have collaboration opportunities. We expect to secure orders with a total value of around US$3 million.”
Assel Abakova, Deputy Director of Amanat LLP Pharmaceutical Company from Kazakhstan, visited the fair for the first time. In view of the growing cases of laryngeal cancer in the region, there is demand for a rapid diagnostic tool to facilitate immediate treatment. “We found a Hong Kong exhibitor that offers AI-enabled diagnostic solutions, which may relieve the shortage of medical and testing professionals in the region,” she said. The buyer will continue discussions with the exhibitor to customise and localise the solution, and the potential project value could exceed US$10 million.
Under the HKTDC’s EXHIBITION+ hybrid model, buyers can extend their sourcing journey online via the Click2Match smart business matching platform until 25 May as well as via hktdc.com Sourcing.
