Research and | 2020 Pharmaceutical Industry Inventory Review Series III: 2020 Pharmaceutical Industry Level 1 Market Annual Review Analysis

According to incomplete statistics, from October 1, 2019 to September 30, 2020, the number of financing in the domestic market reached 997, compared with 2019, the amount of financing increased significantly, the amount of financing exceeded the peak of previous years, reaching 154.3 billion yuan.
the investment round is still concentrated in the enterprise development stage of the A round, but the later round also shows a certain growth.
the amount of financing in various medical sectors has outstayed the growth rate of events, and the increase in the amount of single financing, especially in the pharmaceutical sector, has shown a keen interest in head companies, exacerbating the Matthew effect.
1 Financing analysis over different time periods is in contrast to last year's data showing that the number and amount of investment in the domestic tier 1 healthcare market in 2019 have decreased compared to previous years, especially the amount of investment, which has reached nearly 25% compared to 2018, and the overall market environment has cooled.
However, this trend will not continue in 2020, compared with 2019, the overall amount and amount of financing in the domestic medical market will not decline or increase, the amount of investment even exceeded the previous high of 154.3 billion yuan, the growth rate of financing events reached 29%, the amount of financing is basically twice as large as in 2019.
a closer look at the amount and amount of financing per month from October 2019 to September 2020, affected by the new crown outbreak, February was the lowest level of financing, with only 43 cases, amounting to only 5.76 billion yuan.
However, the new crown outbreak also promoted the development of the first-level medical market, in the second half of the relatively slowing outbreak, the amount and amount of financing gradually rebounded, far more than the 2019 financing events and amounts, and in September reached 121 financing volume and 24.6 billion financing amount, many 1 billion yuan level of financing events occurred this month, such as Taimei Medical.
The amount of financing in the Tier 1 healthcare market will grow significantly faster than the amount of financing in 2020, and the data show that the Matthew effect is more pronounced, with the financing power of head-star companies increasing, and the amount of single financing far exceeds that of previous years, such as Yunding Xinyao, round B financing of US$310 million.
this phenomenon also led to the valuation level of the whole first-tier medical market, but the hot first-level medical market will not necessarily continue to the secondary market, there may be the phenomenon of inverted valuation.
2 Different stages of financing analysis as of the end of September 2020, the domestic level of medical market financing is still mainly concentrated in the early stage, is still in the growth stage, of which A round financing accounted for the largest proportion, the number of financing reached 219, followed by B round, the number of financing reached 155.
in terms of rotation, the overall first-tier healthcare market is moving slowly, with seed and angel wheels gradually shrinking from 29.3 percent in 2017 to 10.9 percent in 2020.
A-round has also been reduced to 41% from 45.9% in 2017.
increased the proportion of rounds in the latter stages of the year, from 17.6 per cent to 39.1 per cent and from 5 per cent to 12.8 per cent in 2017.
From different areas of analysis, the pharmaceutical sector financing round is relatively low, the proportion of the D-wheel reached nearly 20%, but the financing round of medical devices and medical services is relatively high, indicating that the pharmaceutical sector development process slightly faster than medical devices and medical services, relatively perfect development.
3 Segmented Sector Financing Analysis Looking at the financing situation of the primary medical market from October 2019 to September 2020, the main financing events were concentrated in the three major sectors of medical devices, medical services and pharmaceuticals, with 389, 293 and 270 financing events, respectively.
and medical devices increased significantly compared to 2019, and business growth in medical services and pharmaceuticals was relatively flat.
the impact of the outbreak, the demand for molecular diagnostics (IVD) and drugs has led to an increase in financing for medical devices and pharmaceuticals, particularly in the IVD sector.
Many pharmaceutical companies are studying drugs for the new coronary pneumonia also have a certain therapeutic effect, such as Angko immune CD24Fc, Phase III clinical trials have shown that the drug can effectively promote the recovery of patients with severe and critical new coronary pneumonia, significantly reducing mortality.
In 2020, the amount of financing in the domestic primary medical market will rise, and the amount of financing for pharmaceuticals will be higher than that for medical devices and medical services, with an average financing amount of 350 million yuan, with medical devices in second place at 240 million yuan and medical services at 190 million yuan.
the pursuit of large capital for star enterprises is a major reason for the increase in the amount of financing, mainly reflected in the increase in the amount of single financing.
According to incomplete statistics, the number of large single financing events in the pharmaceutical sector (≥.5 billion and $≥1 billion) is much higher than that of medical devices and medical services, which also account for the highest proportion of total financing.
and proportion of large single financing events for medical devices and medical services were not very different.
4 2020 pharmaceutical sector first-level market financing analysis 2020, the pharmaceutical sector financing is the largest biological products, reached 134 financing events, followed by chemical drugs, vaccines and raw materials.
A number of companies have also begun to lay out a variety of areas, including chemicals and biologics, such as Cornell Bio, dedicated to the discovery and development of next-generation immunomodulants for the treatment of severe autoimmune diseases and inflammation, with products that include small molecule drugs and antibody drugs for key inflammatory pathways.
from the round analysis, China's drug research and development is still in its infancy, mainly concentrated in round A.
With the introduction of the new classification system for pharmaceuticals, the reform of chemical drug registration classification and drug review registration, and the priority approval of innovative drugs, China's pharmaceutical field has gradually changed from generic to innovative drugs to new biological products.
Compared to biological products, chemical drugs entered the market earlier, so the development of chemical drugs slightly faster than biological products, from the rotation ratio, biological products are more concentrated in the seeds - angel wheel and A wheel, chemical drug wheel slightly back, C round and later round of the proportion is slightly larger than biological products.
the relatively low proportion of chemical drugs rounds means that the amount of single financing increases, compared with biological products, chemical drugs are greater than or equal to 500 million yuan or 1 billion yuan of single financing ratio is higher than biological products.
of financing of more than 500 million yuan reached 30%.
The reform of clinical trial supervision, generic drug consistency evaluation and other policies, to promote the domestic drug review system gradually in line with international standards, promote the improvement of drug quality, but also increased the barriers to drug research and development, promote the domestic field of pharmaceutical research and development to standardization and centralization, increase the survival of the industry, Matthew effect more obvious.
biological products also include antibody drugs, cell drugs, RNA drugs, gene drugs, lysovirus drugs, and emerging microbial drugs.
2019 cell drugs are a hot spot in biological products, financing more than other drugs, but in 2020, antibody drugs became the first, mainly for cancer, autoimmune and metabolic disease treatment, it is not limited to monoclonal antibodies, but also to more specific nanoantibodies and dual-specific antibodies, such as platinum medicine, victory organisms.
cell drugs have also been gradually transformed from car-T drugs that have emerged since last year, with the rise of stem cell therapy.
microbial drugs began to appear, and the researchers believe that intestinal bacterios are involved in the development and development of a variety of diseases, by transplanting the gut microbiomes of healthy people into the patient's body, to achieve the role of treating diseases, such as unknown jun.
5 Medical devices can be broadly divided into IVD, high-value consumables, medical devices and medical aids.
IVD is the industry that has the most financing events in this field, and the impact of the new crown outbreak is driving the development of this industry.
testing methods mainly focus on genetic testing, applied to cancer early screening, prenatal testing, and even pre-embryonic genetic disease detection.
high-value consumables mainly include cardiovascular industry interventional and non-in-interventional medical devices, orthopaedic implantable devices and oral medical devices (correctors, dental implants, etc.).
of high-value consumables such as artificial hearts, catheters, sealers, etc.
The application of artificial intelligence has also promoted the development of high-end medical devices, the development of medical imaging-assisted diagnostics, as well as surgical navigation systems, are attributed to medical aids, can help doctors get more accurate diagnosis results faster, such as medical and intellectual technology.
medical equipment mainly includes large and small medical equipment, nuclear magnetic, X-ray, blood pressure meter and so on.
at the same time, more and more medical robots appear, including orthopaedic medical robots, neurosurgery robots and rehabilitation robots.
similar to pharmaceuticals, medical devices are still in the initial stage, financing mainly concentrated in round A.
, IVD's financing rounds are slightly behind, with fewer seed-angel round financing events and faster development than medical devices.
6 Analysis of financing events in the field of medical services in 2020 is still dominated by CRO-CDMO (91), followed by Internet medical and medical information, with 88 financing incidents, medical institutions (54), and health management (31) companies.
with the rise and emergence of pharmaceutical companies, CRO and CDMO companies have also developed rapidly, and have evolved to use big data and genetic testing analysis to assist pharmaceutical companies in finding new targets.
Some technology companies that can provide a variety of histological technical services are also beginning to emerge, providing key technical solutions for pharmaceutical companies, such as proteomics, osogenetics, metabolomics services, and stem cell technology services.
the maturity and development of information technology, the implementation of the main thrust of cost-effectiveness of the medical service system, the rise of internet and medical information.
internet medical system includes medical inquiries, electronic medical records, e-prescriptions, etc., as well as online disease counseling and remote consultation.
the new crown outbreak, Internet medical has played a huge role, a number of hospitals and platforms opened online consultation services, greatly reducing the number of hospital visits to cross-infection, while resolving the chronically ill patients consultation and medication guidance.
, the National Health Insurance Administration of the National Health Care Commission issued "guidance on promoting the prevention and control of the new crown pneumonia epidemic to carry out "Internet plus" medical insurance services" to achieve Internet health insurance payments.
Opinion states that the "Internet Plus" follow-up services provided by eligible Internet hospitals for insured persons for the common and chronic diseases may be covered by the Health Insurance Fund.
At the same time, the insured persons may, on the basis of prescriptions issued online by the designated medical institutions, be able to do so at the medical institution or the fixed-point retail pharmacy, and realize the online medical insurance settlement for "Internet plus" medical services, online prescription drug charges, etc. that meet the requirements.
this policy has promoted the progress of Internet health care, while promoting the development of insurance business.
There are not many researchers specializing in basic scientific research and bioinsynistic analysis in domestic hospitals, and the medical informationization of hospitals is also concentrated in the management of hospitals, so there are companies that focus on big data service platforms, which collect, integrate and dig up medical data by building big data platforms for medical data, providing overall solutions for medical institutions, government departments and pharmaceutical companies.
With the improvement of living standards, the rise of medical standards and the enhancement of national health awareness, the health management industry is also gradually emerging, including chronic disease management, postoperative management and rehabilitation management, to provide patients with integrated services from diagnosis and treatment to medication and rehabilitation training.
7 Compared to 2019, financing incidents in Beijing, Shanghai, Guangdong and other places have increased, with Beijing still at the top of the list with 220 financing incidents, followed by Shanghai and Guangdong.
the radiation effect in Shanghai is obvious, and financing events in Jiangsu and Zhejiang have increased.
beijing's financing events are mainly concentrated in medical devices and services, the drug sector is the weakest, but shanghai's relative distribution difference is smaller than Beijing's, the pharmaceutical sector financing events in the second place.
a closer look at the 2020 Beijing financing events in several regions, Haidian District medical sector, the largest number of corporate financing, followed by Chaoyang, Daxing and Changping District.
Haidian District covers a number of research institutions and universities, from basic research to industrial transformation, thus promoting the Haidian District medical enterprises in the legal front.
that 2020 did not continue the trend of cooling the tier one market in 2019, with an increase in both the amount and amount of financing.
the impact of the outbreak led to a market trough in January and February, and then the outbreak leveled off, the market picked up, surpassing the amount of financing in 2019.
investment round is still in the early A-wheel stage, but the proportion of round is moving back moderately year by year.
, Shanghai and Guangdong are still the three major areas of financing, but the radiation effect in Shanghai is obvious, and the financing in Jiangsu and Zhejiang is rising significantly.
In terms of amount, the amount of financing in the first-tier medical market in 2020 exceeded the highest level in previous years, the amount of single financing increased, the financing capacity of head enterprises to enhance, to promote the survival of the market slightly fittest, the Matthew effect will continue and become more obvious.