Market Research Report - 243381
Research Report on Global and China Blood Product Industry, 2013-2017
|Published by||China Research and Intelligence|
|Published||Content info||60 Pages|
|Research Report on Global and China Blood Product Industry, 2013-2017|
|Published: July 30, 2013||Content info: 60 Pages||
Blood products are made by separating and extracting various proteins in plasma and classified into albumin products, immune globulin products, coagulation factor products and other blood products. China enterprises mainly produce nine kinds of products of the first three categories.
The concentration rate of global blood products is very high and the 5 enterprises of developed countries occupy 80-85% of the market. The global plasma volume in 2012 exceeded 30,000 tons and the market scale reached USD 17.5 billion, increasing by 7.4% YOY. The current global blood product market remains relatively stable, mainly driven by emerging economies.
There are strict regulations and high barriers to entry in China blood product industry. No new blood product manufacturing enterprises are allowed to be further established and the import of most blood product varieties is limited. By July 2013, there are only about 20 blood product manufacturers with normal production in China, with small annual plasma volumes and a low market concentration rate.
In 2012, China blood product enterprises realized a total plasma volume of 3,300 tons which decreased compared with that in 2011. The major reason was that the plasma-collecting volume of Guizhou Province accounted for nearly 30% of the total volume in China and the shut-down of many plasma stations in the province led to the drop of plasma volume in 2012.
As new plasma stations have been gradually put into operation since 2011, the plasma volume is expected to recover in 2013 and gradually reach 3,520 tons in 2011. The plasma volume will start to grow from 2014. In 2012, the market scale of China blood products was CNY 14 billion, increasing by approximately 25% YOY, mainly owing to the rise of product unit price caused by short supply. As the output volume of China blood products falls far behind domestic demand, there is no fierce competition in the market. Most products are sold at prices higher than that in the international market.
Market research by CRI has shown that the supply of blood products in China is tight and manufacturers usually have no blood products in stock. Products are usually pre-ordered. Due to the low production capacity utilization rate, most blood product enterprises in China have not planned expansion in recent years. In addition, due to the short supply, the actual prices of blood products in China market are much higher than the government's ceiling prices, so blood product enterprises can obtain high profits.
In early 2012, the Ministry of Health put forward the plan of "doubling" China blood products during the "Twelfth-Five Year" (2011-2015). The future competent authorities are expected to make adjustments and alleviate the short supply of blood products by establishing and restoring plasma stations or increasing plasma donation frequency. CRI predicts that Chinese government will loosen the approval for plasma stations in the future, so the plasma volume, lot release and market scale will continue to increase. The increased products will be consumed by the great demand. As a result, the market competition will not be very fierce.
In a short term, the competitiveness of blood product enterprises will be determined by their quantities of plasma in recent years. As raw plasma is in continued tight supply currently, blood product manufacturers with more plasma stations to collect raw plasma will have more room for survival and development.
In a long term, the competitiveness of blood product enterprises depends on R & D and marketing capabilities. After the tight supply of raw plasma is alleviated in 3-5 years later, enterprises with strong R & D, sales ability and complete product lines will win the competition.
Currently, China blood product industry is entering a period of rapid integration. On November 26, 2012, Jiangxi Boya Bio-pharmaceutical Co., Ltd. And other companies acquired a 68% share of Zhejiang Haikang Biologicals Co., Ltd. With CNY 115.6 million. On June 13, 2013, Jiangxi Boya Bio-pharmaceutical Co., Ltd. Successively transferred 32% of its shares of Zhejiang Haikang Biologicals Co., Ltd. At the price of CNY 36.4377 million. Zhejiang Haikang Biologicals Co., Ltd. Is the only enterprise that built and owns plasma stations approved by the government. In June 2013, Watson Biological Company declared the acquisition of a 35% share of Wuhan Docan Pharmaceutical Co., Ltd. Held by Ruijuquan Medical Technology Consulting Co., Ltd. With CNY 337 million. After the acquisition, Watson Biological Company will possess a 90% share of Wuhan Docan Pharmaceutical Co., Ld. Which is the only blood product enterprise with plasma stations in Hebei and a plasma-collecting capacity of 100 tons/year.
As Chinese government no longer issues new licenses for blood product manufacturers, the new GMP certification requires significant capital investment and plasma station approval leans towards large enterprises, the development of small blood product enterprises is limited. The only way for small enterprises to survive is to join large enterprises.
Foreign blood product enterprises that plan to enter China market only have two choices currently: directly exporting products to China or indirectly entering China market by share acquisition, etc.
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