Healthcare for an aging population
What
Hong Kong delivers exceptional health outcomes despite low public health spending as a share of GDP compared with economies with similar elderly populations, achieving one of the world’s highest life expectancies. The number of persons aged 65 and over is projected to nearly double over the next 25 years, increasing from 1.45 million in 2021 to 2.74 million in 2046. meaning more than one in every three Hong Kong people will be an elderly.
Public hospitals carry the overwhelming care burden, accounting for 91.7% of total patient days (and 95.3% for those aged 65+). Elderly patients generate 5.3× more inpatient days and 4.3× higher service cost per capita than non‑elderly, with the elderly population projected to rise from 1.64M (2023) to 2.75M (2046).
Private healthcare spending represents 48.2% of current health expenditure (HKD 121B, 4% of GDP), with insurance playing a growing role - rising from 33.4% → 44.8% of private spending over the past decade. The Government’s VHIS now covers 1.43M policies, roughly one‑third of the individual indemnity insurance market.
Hong Kong is designed as the MedTech development hub in the Greater Bay Area. The complicated regulatory and business landscape in China has been a hurdle for Swedish SMEs in the healthcare industry, however the "Hong Kong, Macao Medicine and Equipment Connect” policies provide a gateway to the Chinese market via Hong Kong. Registered healthcare products (for clinical use and under urgent need) in Hong Kong can be used by designated medical institutions in GBA after approval, allowing Hong Kong to serve as a first step for Swedish companies looking at the Chinese market.
How
The Government has devoted significant resources to healthcare. The 2025‑26 annual subvention for the Hospital Authority will be HKD100.2 billion (including HKD99 billion recurrent), an increase of about 3% compared to the 2024‑25 revised provision of HKD95.4 billion.
The Hospital Authority will step up its efforts in promoting the sustainable development of public healthcare, including introducing smart hospitals initiatives in different clusters, enhancing tele-health and drug delivery services in specialist out-patient clinics (SOPCs), and improving patients' experience and operational flow with advanced technology. At the same time, the Hospital Authority will enhance SOPCs service, including nurse and pharmacist led clinic service, thereby providing more treatment choices to patients.
Opportunities exist in drugs, medical devices, and age-tech, but also for technology and innovations that can help hospitals to enhance efficiency and reduce.
CONTACT US
For more information contact Johan Thurée at johan.thuree@business-sweden.se.