Inside the
Hong Kong
health tech hub

Hong Kong: A global hub for health tech

With five world-class universities and medical schools, an international financial sector, and business-friendly regulations, Hong Kong is well placed to become the global hub of the health tech sector.

Earlier this year, international founders, researchers and thought leaders in the field of health tech flew into Hong Kong for the Asia Summit on Global Health.

Now in its fifth year and featuring over 40 countries, the event has doubled in size since its launch during the pandemic and has partnered with major health sector events, including International Healthcare Week.

Hong Kong’s strong investor base, innovative ecosystem, and strategic location within the Greater Bay Area have positioned it as something of a hub for health tech. Last year, the government set out plans for a HK$10 billion fund to channel more market capital into emerging and future industries, which are deemed to be of strategic importance, including life and health technology.

The region boasts the highest life expectancy in the world, thanks to its advanced healthcare services. The number of people aged 65 or above is projected to make up over a third (32 per cent) of the population by 2041. This ageing population, combined with increasingly health-conscious consumers, is boosting the demand for healthcare services and products.

“Hong Kong has long been famous for its healthcare. We have wonderful doctors, medical schools, and professors,” says  Dr Patrick Lau, deputy executive director, Hong Kong Trade and Development Council (HKTDC)

“Now we are moving towards the business of healthcare. We're focused on innovation and technology, and leveraging our universities and commercialisation opportunities.”

Indeed, Hong Kong lays claim to five world-class universities, a renowned international financial sector, and regulations mean it is less challenging to operate as a business here than in mainland China, while still benefiting from access to the Chinese and international markets. 

The region is an important gateway for startups seeking to enter the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) health tech market, expected to exceed RMB 1 trillion in scale by 2027[1] , surpassing that of South Korea.

Regulations permit certain drugs and medical devices approved for use in Hong Kong to be distributed in the GBA, with more than 100 manufacturers now taking advantage of this measure.

With a robust intellectual property system already in place, Hong Kong is also working towards becoming a primary regulatory approval centre for new drugs and devices, which Lau says could be “very attractive” to those looking to enter the Chinese market who have not yet secured approval from China’s Medical Pharmaceutical Authority.

“We see an opportunity, and a strong proposition for Hong Kong to create a primary registration system, our own version of the FDA,” says Lau.

“The national government has brought more than 100 enterprises from mainland China to Hong Kong, precisely for that [reason]. As well as our own ecosystem, 15 minutes away in Guangdong Province, the GBA gives companies access to an even greater ecosystem and the full value chain.

“These are medical healthcare companies that want to go global, and Hong Kong can help them connect with international markets.”

As a host of world-leading events like the Asia Summit on Global Health, Hong Kong leaders are enthusiastic about the global health tech sector and optimistic that international collaboration will lead to a better and healthier future for all.

“Global health is for the benefit of everyone,” adds Lau. “More collaborations through events like the Asia Summit on Global Health will lead to more innovations that can help us all.”

An ideal base for business

Renowned as one of the best places in the world to do business, Hong Kong has successfully positioned itself as the world’s startup hub.

Its legal stability, financial infrastructure, innovation support, and access to international markets make it an attractive destination for health tech companies looking to establish a presence in Asia and beyond.

Unlike other parts of the region, Hong Kong’s well-established Common Law legal system, which is based on English law, offers a high degree of legal protection and security for startups, while also making it relatively straightforward to set up a new company.

“Hong Kong has a very open-door policy and runs a very transparent, Common Law system similar to that in the UK and the US,” explains Christopher K.K. Yu, vice president of The Law Society of Hong Kong.

“Incorporating a Hong Kong company is very easy; sometimes you don’t even need a lawyer. You can incorporate a company off the shelf, and in one or two days, it will be up and running.”

Businesses also benefit from having a world-class financial sector on the doorstep, Yu adds: “You have access to all the financial-related services in a very small area. The big names—banks, brokerages, intermediaries—are all within 10 to 15 minutes.”

Innovation support

Several government-backed technology hubs, including the Hong Kong Science Park and Cyberport, offer incubation, funding support, lab space, and a ready-made network for early-stage companies.

Alongside readily available government funding for innovation, the free-flow of capital in the region, and its low-tax regime make it especially attractive to startups seeking early-stage funding, scale-up capital, or eventual IPO opportunities.

“Hong Kong has a free flow of capital policy, so capital can go in and out,” Yu explains.

“There is access to private equity, startup funding, and as an exit platform, you can access the Hong Kong Stock Exchange, where medicine and healthcare are big sectors.”

Robin Weir, legal counsel and head of Asia for the health tech business Nine Health Global, adds: “It really is a centre for innovation. There’s a whole ecosystem of healthcare investors, from wealthy individuals and private funds to branches of mainland groups. They're all looking for things to invest in.

“There's a lot of target equity around, and ultimately, if you get far enough, it's also an extremely good capital market for lending and listing.”

Market access

Of course, for many entrepreneurs hoping to tap into the Chinese and broader East Asia market, Hong Kong is an ideal location. Its position within the GBA gives companies access to a regional market of over 100 million people, while well-developed rail, road, and air infrastructure links Hong Kong to mainland cities like Shenzhen and Guangzhou in under two hours.

Under the Closer Economic Partnership Arrangement (CEPA), Hong Kong-incorporated entities also enjoy preferential treatment in mainland China, including tax benefits and simplified access to operate, manufacture, or distribute in the Chinese market.

“Hong Kong has always been a springboard to get to mainland China,” says Weir.

“Historically, businesses have come here first. It's an international city, and the legal system is essentially English law. It's much more familiar to British business people than Shenzhen or even Beijing.”

However, Shenzhen is also renowned as a centre for tech and innovation, producing global companies like Huawei and BYD Auto, and with lower wages and production costs than Hong Kong. But the increasing integration between Hong Kong and the mainland means companies can have the best of both worlds.

“The big disadvantage, I suppose, is cost,” Weird continues.

“If you're a startup, it can be easier from a cost point of view to base yourself there, but the mainland brings other challenges in terms of IP protection, which are more common here.”

Weir adds: “You can now be based in Hong Kong and still access the talent in Shenzhen. There is closer and closer integration, in many respects, between Mainland China and Hong Kong, which makes business easier.”

OM Health Hub: east meets west in the startup behind the “Netflix of health”

Founded by a European entrepreneur and now based in Hong Kong, OM Health Hub is tackling misinformation online with credible educational health content.

Described by its European CEO and co-founder, Anca Griffiths, as the "Netflix of health," OM Health Hub is a Hong Kong-based health tech company bringing together the best minds in healthcare to create personalised, educational health content.

With over 150 global health experts in every field, from migraines to menopause, to gut health, OM creates educational programmes designed to empower consumers with information about preventative healthcare and disease management that they can apply to their own lives.

“We're building a community of rock star health experts, a place where people can come to understand what they have to say about health, in a way that genuinely supports their health journey,” says Griffiths.

OM has partnered with those at the top of their field, such as neurologist and sleep expert, Dr Chris Winter, and researchers from the Women’s Healthy Ageing Project at the University of Melbourne.

“The health experts come from the top of their field, from across the world,” she continues.

“They have clinical experience, they don't cherry-pick information to manipulate us into understanding health. In other programmes, you will find coaches or doulas, even functional medicine practitioners. We have those, but we also have gastroenterologists, endocrinologists, and neurologists - very highly qualified experts who are not trying to push any products.”

Before founding OM, Griffiths worked in market analysis for the luxury group Richemont, where she noticed a shift towards consumers prioritising investment in their health and wellbeing..

“We spend a lot on our health, but there is nowhere that we can go to genuinely understand how to optimise our health, or how to support our bodies with the best tools that are out there.”

OM primarily works with corporate organisations that want to optimise their employees' health and well-being, as well as insurance companies looking to provide more educational tools to help clients optimise their health and prevent disease. The programmes can be accessed through a subscription service or by purchasing a license for the videos to use within a company.

“There has been a lot of focus in previous years on mental health for employees, and companies are investing a lot more in corporate wellness, but not addressing the whole health of employees is missing out on a lot of opportunities.”

The platform offers precision health, tailoring programmes specifically for women and certain life stages, such as breastfeeding or midlife.

“These subjects are often presented in such a basic way; if you want to lose weight and be healthy, eat vegetables and exercise,” says Griffiths.

“There are so many factors that need to be considered when you want to optimise your health that you can't apply a one-size-fits-all strategy to it.”

In June, OM hosted Women’s Health in Focus, a global summit on women’s health at the Asia Society Hong Kong Center, supported by backers such as HSBC, AIA and Prudential.

Tatler Asia reported that the two-day event highlighted the potential of traditional Chinese medicine alongside tech and AI-driven solutions, reflecting Hong Kong’s unique position as an ‘east-meets-west healthcare innovation hub’.

Griffith, co-author of the book Why Women Aren't Winning at Health (But Can), is equally passionate about tackling ‘misinformation’ about health online.

“When it comes to health, you can say whatever you want without any consequences,” she says.

“We're battling with social media, and specifically with sound bites. It's so easy to make a claim, and the more outrageous it sounds, the higher the reach it has.”

This is what sets OM apart from other educational content platforms, Griffiths says. It has spent time and resources building a community of credible experts that consumers can trust.

“There is so much out there, but that's what distinguishes us,” she adds.

“Our differentiator is the work we do to create a community of experts.”