The ageing of the Hong Kong population, which is set to see the “Later Lifers” (aged 65-79) age group see by far the strongest growth in both CAGR and absolute terms over the forecast period, is exerting an important influence on the development of consumer health in the market. This includes boosting demand for analgesics offering fast and targeted relief for problems such as backache, which become more common with age.
Modern consumer lifestyles are a significant factor in shaping demand in analgesics, with the fact that many jobs involve people sitting at computer screens for several hours a day contributing to an increase in back, shoulder and neck pain, as well as pain related to repetitive actions. In order to be able to continue working and maintain increasingly busy lifestyles, many consumers choose to use fast-working, targeted analgesics, such as topical products, as well as more general pain relief, such as adult acetaminophen.
A growing emphasis on promoting self-care on the part of a government looking to reduce the burden on public hospitals is likely to strengthen demand across consumer health, including in analgesics. In her policy address in October 2017, Chief Executive of Hong Kong, Carrie Lam Cheng Yuet-ngor, announced the aim of reducing hospitalisation by encouraging people “to take precautionary measures against diseases” and enhancing “their capability in self care and home care”.
GlaxoSmithKline HK Ltd remained the clear leader in analgesics in Hong Kong in 2018, primarily as a result of its market-leading Panadol brand. The acetaminophen brand, Panadol, is available in a number of extensions tailored to the needs of adults and children, and is front-of-mind for Hong Kong consumers looking for analgesics.
Local players, Haw Par Healthcare Ltd and Hoe Hin Pak Fah Yeow Mfg Ltd, were the second and third largest players, respectively, in analgesics in 2018. These companies occupy the leading positions in the expanding topical analgesics/anaesthetic category, in which they are benefiting from growing demand for fast, targeted pain relief.
Japanese company, Hisamitsu Pharmaceutical Co Inc was the fastest-growing player in analgesics in 2018, thanks to the strong performance of its Salonpas brand in topical analgesics/anaesthetic during the year. The convenience of the brand’s pain relief patch format is proving compatible with evolving demand trends.
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This industry report originates from Passport, our Consumer Health market research database.