1, Biopharmaceutical Industry Basic Overview
1, Definition
Biopharmaceutical Industry is an industry based on life sciences and biotechnology, combined with informatics , system science, engineering control and other theoretical and technical means to develop, produce and sell products for prevention, treatment, diagnosis and rehabilitation, involving the biotechnology industry and the pharmaceutical industry.
2, classification
biomedical can be divided into three categories of products according to the differences in product functions. Prevention mainly includes vaccine products; diagnostic products mainly include diagnostic reagents; therapeutic products mainly include monoclonal antibodies (monoantibodies), recombinant protein drugs and blood products.
Biopharmaceutical product classification
Source: Public information sorting
3, development history
Handle of medicine and biological industry has entered the innovation cycle. Looking at the development history of the pharmaceutical industry, in addition to the changes on the demand side, it is also closely related to my country's policy orientation. Pharmaceutical companies have also experienced the process of focusing on sales to focusing on R&D, from focusing on imitation to focusing on innovation. In 2004 and 2005, a large number of generic drugs in my country were approved for marketing, and sales were king; in 2011, the National Health Commission of launched a national special rectification campaign for the clinical application of antibacterial drugs, and the antibacterial drug market structure accelerated differentiation; in July 2015, the Drug Administration issued an announcement on self-examination of clinical data; in December 2018, the centralized procurement of "4+7" drugs officially began, the era of generic drug dividends came to an end, and the pharmaceutical industry entered the era of innovation as king.
The pharmaceutical and biological industry major events sorted out
Source: Public information sorted out
2. Biopharmaceutical industry chain
1. Industrial chain diagram
1. The upstream basic research of the biopharmaceutical industry chain is generally completed by independent medical laboratory , that is, a third-party testing center. Some hospitals also have independent laboratories, which can undertake some pharmaceutical outsourcing projects. The midstream link is biomedical manufacturing, including vaccines, blood products, diagnostic reagents and monoclonal antibodies. The downstream is consumer terminals, mainly including medical institutions (hospitals, primary medical and health institutions, professional public health institutions ) and pharmaceutical retail terminals (including physical pharmacies and e-commerce platforms).
About the biopharmaceutical industry chain
Source: Public information sorting
2, Upstream end - third-party medical testing
From the upstream end, with the improvement of medical testing technology level and market demand, under the driving force of the huge medical testing market, the domestic third-party medical testing market has developed rapidly, laying a solid foundation for the development of the biopharmaceutical industry. In 2021, the size of my country's third-party medical testing market was approximately 36.9 billion yuan, an increase of 20.2% year-on-year.
Source: Public information sorting
Related report: "2022-2027 China Biopharmaceutical Industry Market Panoramic Assessment and Development Strategy Planning Report" released by Huajing Industry Research Institute
III. Biopharmaceutical Industry Development Policy
In recent years, the State Council, the State Administration for Market Regulation, the State Administration for Market Regulation and other departments have successively issued relevant policies to support and regulate the biopharmaceutical industry.
Source: compiled by Huajing Industry Research Institute
IV. Current status of China's bio-pharmaceutical industry
(I) Pharmaceutical manufacturing industry
With the continuous development of my country's economy, people's attention to their own health has been continuously increasing, and the demand for related pharmaceutical products has gradually expanded. The pharmaceutical industry is an important part of the national economy. According to data from the National Bureau of Statistics, the total operating income of large-scale industrial enterprises in China's pharmaceutical manufacturing industry in 2021 is about 2928.9 billion yuan.
2016-2020, the total profits of my country's industrial pharmaceutical manufacturing enterprises above the designated size increased steadily, from 300.29 billion yuan to 350.67 billion yuan.In 2021, due to the impact of the new crown epidemic and the accelerated construction of medical and health care, the total profits of my country's industrial-scale pharmaceutical manufacturing enterprises increased rapidly, reaching 627.14 billion yuan.
Source: National Bureau of Statistics, compiled by Huajing Industry Research Institute
(II) Pharmaceutical Biology
1, market size
Pharmaceutical Biology is an important part of the national economic development. The industry currently benefits from the development of downstream health demand, is in a period of rapid development, and has a large industrial space. According to statistics, the market size of my country's pharmaceutical and biological industry reached 3.57 trillion yuan in 2020, and it is estimated that the market size of China's pharmaceutical and biological industry will exceed 4 trillion yuan in 2022.
Source: Public information sorting
5. Number of listed companies in pharmaceutical and biological and investment and financing
In 2021, China's biomedical field added 121 new listed companies, an increase of more than 75% over 2020. By month, February, June and December are the peak annual listing periods.
Source: Firestone Creation Database, compiled by Huajing Industry Research Institute
From the perspective of the trading market, 50 listed on the Shanghai Stock Exchange, 30 listed on the Hong Kong Stock Exchange, 27 listed on the Shenzhen Stock Exchange, 5 listed on the US NASDAQ Stock Exchange, 5 listed on the agency transfer market (New Third Board), and 4 listed on the Beijing Stock Exchange.
Source: Firestone Creation Database, compiled by Huajing Industry Research Institute
In August 2022, there were 83 investment and financing incidents in the global biomedicine field, a month-on-month increase of 4.3%; the investment and financing amount was US$2.368 billion, a month-on-month increase of 13.7%.
Source: Artery Network, compiled by Huajing Industry Research Institute
Primary market investment in the pharmaceutical industry continues to be active. Since 2013, the amount of investment and financing and the number of events in the biomedicine field in my country has grown rapidly. In 2021, the amount of investment and financing in the primary market in the domestic biomedicine field reached 118.9 billion yuan, a year-on-year increase of 34.5%, and the number of investment and financing events was 523, a year-on-year increase of 57.06%.
Source: Artery Network, compiled by Huajing Industry Research Institute
At present, the investment and financing in my country's biomedical field is mainly concentrated in the drug field. In 2021, the investment and financing amount in the pharmaceutical field in China accounted for as high as 88.86%; followed by the CXO field, with the investment and financing amount accounting for 10.14%.
Source: Public information sorting
6. Development trend of the biopharmaceutical industry
Biopharmaceutical will maintain a medium- and long-term high-prosperity development trend. With the arrival of the "longevity era" and the frequent occurrence of epidemics, promoting the development of the biopharmaceutical industry and accelerating the transformation and upgrading of traditional chemical drugs and traditional Chinese medicines have become an unavoidable focus issue in the construction of a "Healthy China".
Looking forward to the future, the "14th Five-Year Plan" period is a critical period for innovation-driven development and transformation in my country's pharmaceutical industry. Domestic innovative drugs have entered a critical stage of commercialization. It is expected that more than 200 new drugs will apply for NDA/BLA. Biologics are currently the fastest growing field in the world. Driven by policies that encourage innovation, new products represented by recombinant proteins and monoclonal antibodies are accelerating their launch. After they are launched, it is expected to be included in the medical insurance price negotiations to increase the volume, and the high prosperity of the medium and long-term industry will continue. At the same time, benefiting from the improvement of healthy consumption, companies with the research and development and production capabilities of new crown pneumonia vaccines and commercial category II vaccines are expected to usher in a rapid market increase. growth hormone and blood products sectors will maintain a high prosperity and industry growth will be maintained. The gene cell therapy (CGT) industry has entered an era of rapid development, and the internationalization of domestic innovative drugs with extremely strong product strength is worth looking forward to. The long-term industrial value of the CXO track is still outstanding, and "transfer of overseas pharmaceutical industry chain" + "Chinese pharmaceutical innovation" continues to be the dual driving force for promoting CXO's high prosperity. As the national centralized procurement of biological products is launched one after another, the profit margin of biopharmaceuticals will be compressed, but the trend of medium- and long-term high prosperity in biopharmaceuticals will remain unchanged, and the long-term market for bioinnovative drugs will still exist.
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