Abstract
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Product coverage
Adult mouthcare; Allergy care; Analgesics; Calming and sleeping products;
Child-specific OTC healthcare; Cough; cold and allergy (hay fever) remedies;
Digestive remedies; Ear care; Emergency contraception; Eye care; Medicated
skin care; NRT Smoking cessation aids; OTC obesity; OTC statins; OTC triptans;
Vitamins and dietary supplements; Wound treatments
Executive summary
Changing demographic structures opening up new opportunities
The phenomenon of longer life spans is being seen all over the world and,
together with the relatively large population of elderly citizens in Hong
Kong, this has created great opportunities for the OTC healthcare products
industry. The healthcare products market used to be segmented by age, with the
35-44 age group generally the main focus among the target markets, due to its
observable illness rate and also because such consumers can foresee high
medical and healthcare expenditure in their future.
Key players are active in their own areas of operation
The cost of research and development makes up a relatively large part of the
investment in a product and this, together with the strict regulations, mean
that it is uncommon to see successful players move into other areas within the
market. Cerebos Pacific Pte Limited, as the leading player, is active only in
the area of vitamins and dietary supplements. Likewise, GlaxoSmithKline HK
Limited concentrates on acetaminophen, while domestic manufacturer Coltalin is
strongest in cough, cold and allergy remedies.
Stronger health consciousness driving growth
Sales of vitamins and dietary supplements are expected to continue to grow at
a fairly fast rate in the forecast period. After the outbreak of SARS in 2003,
consumers acquired more medical knowledge and became more health conscious.
Many local consumers became much more concerned about how to maintain a
healthy lifestyle. Therefore, it is expected that vitamins and dietary
supplements will continue to grow in the forecast period.
Great acceptance of Traditional Chinese Medicine
In recent decades, efforts have been made to integrate Traditional Chinese
Medicine (TCM) into scientific medicine. Despite the fact that Western
medicine has dominated in Hong Kong for more than 100 years, TCM is well
accepted by most members of the public. Underpinned by its long history and
public acceptance, TCM registered itself with great potential in the Hong Kong
healthcare products market.
Chain pharmacies more popular than independent outlets
Chain chemist/pharmacy retailers, such as Watsons Your Personal Store
(Watsons), Mannings and Health Plus, are the most popular stores from a
customer standpoint when purchasing health products, ahead of the local
independent pharmacies. This is due not only to the wide distribution network
and location of the shops, but also the greater confidence that customers have
in these chain stores. Watsons and Mannings can be easily found in every
shopping mall, while Health Plus stores are located in many MTR stations.
Customers believe that there is no risk of being sold parallel imports at such
outlets.
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