Hong Kong's Role in Medical Technology Innovation between Mainland China and Global Markets

Tuesday, 10 September 2024, 23:30

Hong Kong serves as a crucial hub for medical technology, receiving strong regulatory support from InvestHK. With the help of this governmental assistance, medical firms like Time Medical have expedited processes to launch innovations such as neonatal MRI systems. The city’s connectivity with mainland China enhances its appeal for investors in the Asia-Pacific market.
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Hong Kong's Role in Medical Technology Innovation between Mainland China and Global Markets

Hong Kong: A Promising Hub for Medical Technology

Hong Kong's robust regulatory support fosters a thriving environment for foreign medical technology companies. InvestHK plays a vital role in assisting firms like Time Medical, which specializes in innovative imaging systems tailored for neonatal care. This has enabled faster regulatory approval processes, significantly reducing wait times

Convenient Regulatory Processes

According to Simon Yeung, Time Medical’s COO, the company faced a lengthy approval procedure in the US, yet thanks to Hong Kong's support, essential groundwork—including testing—was accelerated, allowing quicker operations.

Innovative Collaborations Tapping into Greater Bay Area

Notably, Time Medical is already collaborating with local hospitals. This effort will pave the way for its advanced MRI systems to reach the mainland Chinese market, leveraging the medical connect scheme introduced in 2020, facilitating broader access.

  • Investment Surge: Nine companies, guided by InvestHK, have pooled HK$60 million (US$7.7 million).
  • Job Creation: Approximately 120 new jobs have emerged.

Expanding Regional Opportunities

Industry leaders recognize Hong Kong as a connector. Dilip Parmanand, CEO of Koning HK, highlights the city's safety and regulatory adherence as vital for gaining trust in neighboring markets like Thailand and Malaysia.


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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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