In recent years, the state has continuously issued a series of favorable policies to help the development of traditional Chinese medicine, including the "Guiding Opinions on Medical Insurance to Support the Inheritance and Innovation Development of Traditional Chinese Medicine", the launch of the "dual-channel" drug management mechanism, the clarification of the use of Chinese medicine formula granules, the inclusion of qualified Chinese medicine institutions in medical insurance designated points, the construction of a multidisciplinary cross-innovation team of traditional Chinese medicine, and the acceleration of the approval of innovative Chinese medicine drugs.
The inheritance and development of traditional Chinese medicine has been favorable, and the medium- and long-term development is optimistic (image source; Pharma Network)
It is worth mentioning that on October 14 this year, the State Administration of Traditional Chinese Medicine also issued the "14th Five-Year Plan for the Development of Traditional Chinese Medicine Talents" (hereinafter referred to as the "Plan"), focusing on the specific tasks of the construction of various talent teams, and establishing clearer talent classification training goals
.
Industry analysts believe that under a series of favorable policies, the Chinese medicine industry will continue to be active and have long-term investment value
.
At the same time, the entire industry chain of traditional Chinese medicine, including research and development, planting, medical services, sales, decoction and other links, is expected to continue to benefit
.
It is understood that up to now, the third quarterly reports of enterprises in the Chinese medicine industry in 2022 have been successively revealed, from which some trends
in the development of the Chinese medicine sector can actually be glimpsed.
Specifically, as of October 31, 74 A-share listed Chinese medicine companies announced their "report cards" for the third quarter, of which 29 companies achieved double growth in revenue and net profit attributable to the parent, accounting for 39.
19%.
For example, in the first three quarters of 2022, Baiyun Mountain's total operating income increased by 2.
37% year-on-year to 54.
806 billion yuan, and the net profit attributable to the parent increased by 4.
91% year-on-year to 3.
474 billion yuan
.
In the first three quarters of 2022, CR Sanjiu achieved a year-on-year increase of 7.
53% in operating income of 12.
11 billion yuan, and a year-on-year increase of 11.
17% in net profit attributable to the parent to 1.
952 billion yuan
.
From the perspective of subdivisions, the performance of enterprises related to traditional Chinese medicine formula granules is outstanding
.
In addition to the above-mentioned China Resources Sanjiu, Yiling Pharmaceutical also achieved revenue of 2.
380 billion yuan in the third quarter, a year-on-year increase of 7.
41%; The net profit attributable to the parent was 366 million yuan, a year-on-year increase of 40.
92%.
After the end of the pilot, the application scope of Chinese medicine formula granules has increased significantly, and the market coverage has been greatly expanded
.
Analysts pointed out that from 2016 to 2020, the market size of traditional Chinese medicine formula granules has increased from 10.
7 billion yuan to 25.
5 billion yuan, with a compound growth rate of 24.
25%
in the past five years.
With the continuous increase in the application range of traditional Chinese medicine formula granules, the industry expects that the market is expected to grow rapidly for a long time, or will open up a market
of 100 billion.
In addition, with the further improvement of the high-quality development policy and system of traditional Chinese medicine, the unique advantages of traditional Chinese medicine in the construction of a healthy China will be further exerted, in addition to traditional Chinese medicine formula granules, there are many subdivisions that will also benefit
from the continuous development of the traditional Chinese medicine sector.
For example, Huatai Securities Research has pointed out that it is optimistic about the growth of
consumer Chinese medicine in the long run.
In the short and medium term, we are optimistic about the structural opportunities of consuming traditional Chinese medicine, that is, products with strong brand power and excellent efficacy, which are expected to outperform the market
through three types of paths: business improvement, product price increase and equity incentive, under the improvement of pharmacy chain rate, the decentralization of publicity media, and the rise of e-commerce platforms.
In addition, Xiangcai Securities said that it can look for investment opportunities in the traditional Chinese medicine industry around the relevant policies of the traditional Chinese medicine industry, and it is recommended to pay attention to three main lines: 1) inheritance and innovation line, focusing on traditional Chinese medicine innovation, branded traditional Chinese medicine and traditional Chinese medicine formula granules; 2) Policy safe harbor line, focusing on partial consumption and OTC terminal expansion; 3) Pay attention to the targets of traditional Chinese medicine related to the prevention and treatment of
the new crown.
In addition, Southwest Securities also pointed out in the research report that the performance of the traditional Chinese medicine sector is clearly differentiated, and the industry is more optimistic about branded Chinese medicine consumer goods and exclusive basic drugs of
traditional Chinese medicine.
In general, the traditional Chinese medicine industry has stood on the cusp of development with the support of policies, and the huge market will also attract more new competitors
.
In this context, only by continuously investing a lot of cost and time to improve the technical level and ensure that the products meet the national standards, can they gain more advantages and improve market competitiveness
.
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