Biomedical engineering is a general term for comprehensively applying the principles and methods of life science and engineering science, understanding the structure, function and other life phenomena of the human body at multiple levels from the perspective of engineering in molecules, cells, tissues, organs and even the whole human body system, and researching the artificial materials, products, devices and system technologies used for disease prevention, treatment, human body function assistance and health care.
1〠Industrial chain
The upstream of biomedicine includes traditional Chinese medicine, raw materials, pharmaceutical intermediates, pharmaceutical excipients, pharmaceutical packaging materials and pharmaceutical research and development; The midstream includes the manufacturing of various biological drugs, chemical drugs, traditional Chinese medicine, medical equipment and instruments; Downstream drugs flow to various offline and online channels, and finally to end consumers.
Source: Prepared by China Commercial Industry Research Institute
2〠Upstream analysis
1. Chinese herbal medicine
Traditional Chinese medicine has been widely recognized by doctors and patients for its good quality and curative effect. In recent years, the market demand for Chinese herbal medicines in China has continued to grow. In 2020, the turnover of China's traditional Chinese medicine market will reach 179.769 billion yuan, up 8.75% year on year. In 2021, the turnover of the traditional Chinese medicine market will approach 200 billion yuan. As China continues to support the Chinese medicine industry, it is estimated that the turnover of the Chinese medicine market in 2022 will reach 209.09 billion yuan.
Data source: National Bureau of Statistics and China Academy of Commerce
Analysis of key enterprises:
2. Drug substance
In 2018, China began to levy environmental protection taxes, and the process of clearing low-end production capacity of API was accelerated. Affected by this, the output of China's API dropped precipitously in 2018. In 2019, the output of China's API shrank again. The annual output of China's API dropped from 3.478 million tons in 2017 to 2.621 million tons in 2019, and the growth will resume from 2020. In the first quarter of 2022, China's output of APIs will reach 789000 tons, up 8.7% year on year.
3. Pharmaceutical Intermediates
In recent years, due to the impact of environmental protection and safety production supervision policies, pharmaceutical intermediates and downstream API manufacturers are faced with certain environmental protection governance pressure. Some enterprises in the market are gradually eliminated or forced to relocate and stop production because they cannot meet the requirements of green production or the scale of enterprises cannot meet the requirements of "going out of the city and entering the park". Therefore, the overall scale of China's pharmaceutical intermediates industry has shown a short-term adjustment trend in recent years.
According to statistics, the output of pharmaceutical intermediates in China was 10.21 million tons in 2019, down 1.07% year on year. In 2020, the global pharmaceutical market rose rapidly due to the impact of the COVID-19. It is expected that the output of pharmaceutical intermediates in China will reach 10.29 million tons in 2022.
Data source: sorted by China Commercial Industry Research Institute
3〠Midstream analysis
1. Market size
It is reported that in 2020, the Drug Examination Center accepted 1062 applications (597 varieties) for the registration of Class 1 innovative drugs, an increase of 51.71% over 2019. Among them, 1008 IND applications were accepted, an increase of 49.78% over 2019; Four NDAs were accepted, an increase of 100.00% over 2019. As of 2020, the market size of China's bio pharmaceutical industry is 3.57 trillion yuan, and it is estimated that the market size of China's bio pharmaceutical industry will exceed 4 trillion yuan in 2022.
Data source: Bioexploration, organized by China Commercial Industry Research Institute
2. Market segment
(1) Biopharmaceutical
With the continuous breakthrough of domestic biotechnology, gradual adjustment of industrial structure, and rising per capita disposable income of residents, the domestic biopharmaceutical industry has a strong development momentum in recent years, and the growth rate of the biopharmaceutical market size is far faster than the overall domestic pharmaceutical market and other market segments. Data shows that from 2017 to 2020, the scale of the domestic biopharmaceutical market will increase from 218.5 billion yuan to 369.7 billion yuan, with a compound annual growth rate of 19.2%. It is estimated that the scale of China's biopharmaceutical market will reach 518.3 billion yuan in 2022.
Data source: Frost&Sullivan, China Commercial Industry Research Institute
(2) Chemicals
In recent years, the overall scale of China's chemical drug market has shown a growth trend. Affected by the epidemic situation in 2020, the market scale has slightly decreased to 708.5 billion yuan. In 2021, procurement in volume will enter the normalization stage, which will play a positive role in improving the concentration of the chemical medicine industry, promoting R&D innovation, promoting upstream and downstream integration, etc. It is estimated that the scale of China's chemical medicine market will reach 846.6 billion yuan in 2021, and will grow to 896.3 billion yuan in 2022.
(3) Traditional Chinese Medicine
China is the world's second largest pharmaceutical market after the United States. Among them, the Chinese medicine manufacturing market has increased from 63.7 billion yuan in 2016 to 73.7 billion yuan in 2020, with a compound annual growth rate of 3.7%. According to the prediction of China Commercial Industry Research Institute, the market scale of Chinese traditional medicine pharmacy will grow to 77.1 billion yuan in 2022.
3. Investment and financing
There are 39 financing projects in the domestic biomedical field, with a total financing amount of about 568 million US dollars, down about 47% compared with the total financing amount last month; A total of 43 projects in the field of overseas biomedicine have been completed, obtaining nearly 2.16 billion US dollars accumulatively, and the total amount has increased by about 13% month on month.
Data source: arterial orange, sorted by China Commercial Industry Research Institute
4. Analysis of key enterprises
Recently, 85 listed companies in the bio pharmaceutical industry in Shanghai and Shenzhen AB shares successively announced their business performance in 2021. The total revenue of 85 listed companies in the bio pharmaceutical industry was 244.894 billion yuan, including 4 companies whose revenue exceeded 10 billion yuan. In 2021, the top ten companies in terms of operating income of AB share listed companies in the biomedical industry are Fosun Pharmaceutical, Zhifei Bio, Changchun Hi Tech, Dongfang Bio, Daan Gene, Baekje Shenzhou-U, BGI Gene, Hipreci, Wantai Bio and Shengxiang Bio.
Data source: China Commercial Industry Research Institute database
4〠Downstream analysis
1. Pharmaceutical E-commerce
In recent years, the scale of pharmaceutical e-commerce transactions in China has kept growing. In 2020, the scale of pharmaceutical e-commerce transactions reached 195.6 billion yuan, up 28.3% year on year. It is expected to further increase to 243.1 billion yuan in 2022. The growth of medical e-commerce transaction scale will drive the sales volume of biological medicine online channels to further, thus expanding the consumer market.
2. Medical institutions
In recent years, China's medical technology capability and medical quality have significantly improved. We have continued to build a high-quality and efficient medical and health service system to better meet the health needs of the people, laying a solid foundation for the implementation of the healthy China strategy. In 2021, the number of medical and health institutions in China will reach 1.031 million, an increase of 8000 over 2020, with a year-on-year growth of 0.78%, including 37000 hospitals and 977000 grassroots medical and health institutions, There are 13000 professional public health institutions.
