Asia Summit on Global Health and Hong Kong International Medical and Healthcare Fair conclude successfully

• ASGH attracted 2,800+ participants from 40 countries and regions
• Medical Fair welcomed 12,000+ buyers from 60 countries and regions
• 360+ deal-making sessions and 650+ business matching meetings were arranged to facilitate cross-sector collaboration
• Signing of cooperation agreements at ASGH fostered collaboration across healthcare, including ophthalmology, gastrointestinal well-being, AI and innovative drugs

19 May 2024 – 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, organised by the Hong Kong Trade Development Council (HKTDC), to engage in conversation on the healthcare industry’s latest developments and trending topics.

The flagship events, the fourth Asia Summit on Global Health (ASGH) and the 15th edition of the Hong Kong International Medical and Healthcare Fair (Medical Fair), concluded successfully yesterday. ASGH attracted over 2,800 participants from 40 countries and regions, while the Medical Fair welcomed over 12,000 buyers from 60 countries and regions.

More than 360 one-on-one deal-making sessions and over 650 business matching meetings were arranged to facilitate cross-sector collaboration.

Dr Peter K N Lam, Chairman of the HKTDC, said: "Global health issues, such as ageing populations, novel infectious diseases and climate-related health threats, have accelerated the need for innovation, collaboration and inclusion. The Asia Summit on Global Health and Hong Kong International Medical and Healthcare Fair have greatly contributed to advancing health and medical innovation and fostering vital industry exchange. Being able to bring together leading figures in healthcare-related industries in Hong Kong is a testament to our city’s position as a leading hub for medical innovation."

Healthcare experts discuss trending topics

The Summit brought together over 80 experts, researchers, medical professionals, business leaders, investors and representatives from the healthcare industry worldwide. They engaged in fruitful discussions on diverse forward-looking issues, ranging from healthcare innovation, innovative drugs and China's healthcare development to healthcare investment prospects and healthcare insurance.

At the first plenary that discussed opportunities in co-creating 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. With the national endorsement and our policy innovations, together with the can-do spirit of our people bolstered with our traditional and new advantages, I am confident that Hong Kong will overcome all challenges and achieve its goal of developing into a health and medical innovation hub.”

Another highlight was Prof Roger Kornberg, Nobel Laureate in Chemistry 2006, in the second plenary who highlighted the latest biotech advancements. 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 in a research centre for fundamental studies. It’s a good beginning, but it should not end there,” Prof Kornberg said.

He added: “Most discoveries are made by young people. The importance of creating opportunities for young people to gain early independence and to be adequately supported to pursue their curiosity, in whatever direction that may take, is the key to success.”

In the Dialogue with Global Pioneer in Health, Prof Michael Hanna, Director of UCL Queen Square Institute of Neurology of University College London, shared the latest trends and research findings in neuroscience and mentioned the importance and power of global collaboration in determining genetic risk factors.

In the session What’s Next in China’s Healthcare Arena, medical experts and business leaders analysed the latest healthcare developments and 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. Enterprises sign agreements, 360 matching sessions held 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 cooperation agreements, including:

-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

These partners were all connected via previous editions of the Summit and HKTDC’s global network. In particular, AstraZeneca and CTSCB will work together to advance scientific research and translate the findings into healthcare solutions that improve lives and foster the development of the healthcare ecosystem.

Additionally, the LiverCare - Hong Kong 10 Million Liver Scans Program launch ceremony was held at ASGH. 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.

Facilitating business connections and matching at Medical Fair

The Medical Fair, organised by the HKTDC and co-organised by the 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.

“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,” said Dr Cheng Man-Hong, Director of medical equipment company Maxwin & Honwell Limited. The company had a successful debut at the Medical Fair. “We also discussed with potential medical companies from Canada, the UK, Taiwan and Thailand. Through the Click2Match platform, we successfully matched with buyers from Indonesia and India,” Dr Cheng added.  

Gold Together Technology Limited, another Hong Kong exhibitor, capitalised on domestic opportunities and received enquiries from local public and private hospitals, with a potential value of HK$50 million.

Participating in the Medical Fair for the third time, VVFLY Electronics Co., Ltd. from Mainland China promoted sleep health products, such as AI-powered anti-snoring devices. Lily Li, the company’s Sales Director, mentioned that the Fair helped them expand into the Southeast Asian and South Asian markets, and they were highly satisfied with the results. “An Indian customer purchased 1,000 breathing machines on the first day, totalling US$150,000-$200,000. Later, we also received orders from buyers in Thailand, Malaysia and the Philippines, totalling around 500 breathing machines, exceeding our expectations.”

Assel Abakova, Deputy Director of Amanat LLP Pharmaceutical Company from Kazakhstan with an extensive distribution network in the country and neighbouring regions, such as Kyrgyzstan and Central Asia, 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.

Seminars on wide-ranging topics were held during the Fair, attracting keen participation from healthcare professionals. In the HKMHDIA Medical Fair Forum, experts discussed topics, such as gerontechnology and smart health. Those who missed the seminars can watch the replay on the Fair's website at https://bit.ly/3DNBBXy.

The Medical Fair ran under the HKTDC’s EXHIBITION+ hybrid model. In addition to the physical fair, buyers can extend their sourcing journey online via the Click2Match smart business matching platform until 25 May as well as via hktdc.com Sourcing.

Websites

International Healthcare Week: https://internationalhealthcareweek.hktdc.com/en

Asia Summit On Global Health: https://www.asiasummitglobalhealth.com/conference/asgh/en

Hong Kong International Medical and Healthcare Fair:

https://www.hktdc.com/event/hkmedicalfair/en

Photo download: https://bit.ly/4bJHOms

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About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.