Difficult medical equipment industry to be broken to break | difficult way to break through localization

Recently, along with the "Opinions on Deepening the Innovation of Examination and Approval System for Drug Evaluation and Innovation to Encourage the Innovation of Medical Devices", the medical device industry has drawn much attention. Wang Baoting, deputy secretary-general of the China Institute for Drug Control and Supervision, China has become one of the major producers and major consumers of medical devices in the world. By 2020, the annual sales in China are expected to exceed 700 billion yuan and the average annual growth rate will reach over 10% in the next 10 years.

Benefit from the favorable policy, the domestic medical device industry ushered in the rapid development of listed companies from the third quarterly medical device disclosure, as well as the previous semi-annual report shows that the performance of medical device companies increased significantly.Among them, Jiangsu Jumped Medical Device Shares Limited (hereinafter referred to as 'Jumped Yue Medical', 002223.SZ) achieved a double-digit increase in its net profit for the first three quarters, both of which increased by more than 20%. Minimally Invasive Medical Science Co., Ltd. (hereinafter referred to as 'Minimally Invasive Medical', 00853.HK ) During the first half profit up 272.4%.

Good performance and broad prospects for development at the same time attracted the attention of capital, recently, including the United States, Haier, Shanghai Electric and other famous enterprises have also laid out the medical device market.However, the industry pointed out that China is still in the field of medical devices in The low end of the industrial chain, high-end products mainly rely on imports, away from the realization of 'import substitution' is still a large distance.

In response, Shandong Xinhua Medical Devices Co., Ltd. (hereinafter referred to as 'Xinhua Medical', 600587.SH) to the "China Business" reporter said that in recent years, the state has introduced supportive medical devices related policies, domestic medical equipment 'import substitution' space Huge future the company will continue to create their own brand through independent innovation, enhance the competitiveness of similar products with the international community.

According to China medicine Material Association released the "2016 China medical instruments Industry Development Blue Book "data show that China's medical device market sales increased from 179 billion yuan in 2001 to 308 billion yuan in 2015, excluding the impact of price factors, an increase of about 17.21 times in 15 years.

In the context of the rapid development of the industry as a whole, the major types of medical equipment enterprise Also ushered in the accelerated development period.October 20th, Diving Medical released 2017 third quarterly report, the company from January to September achieved an operating income of 2.693 billion yuan, an increase of 34.66%; net profit attributable to shareholders of listed companies 528 million yuan, An increase of 22.11% .Xinhua Medical three quarterly reports, the company operating income of 7.091 billion yuan the first three quarters, an increase of 20.09% .According to the semi-annual report of minimally invasive medical, the first half of this year, the company achieved operating income of 217 million US dollars, an increase of 9.5% ; Net profit of 20,614,000 US dollars, an increase of 272.4%.

Xinhua Medical told this reporter that in recent years, the company's operating income growth has maintained rapid growth, the scale has also been expanding, and cash flow from operating activities continue to improve, has reached the best in recent years Level.

In addition to the above-mentioned professional medical device companies, the comprehensive pharmaceutical companies also performed well in the medical device sector after Shanghai Fosun Pharma (Group) Co., Ltd. (600196.SH) reported that the company's medical cosmetic device Da Vinci Surgical Robot The number of operations maintained rapid growth, surpassing 12,800 units in mainland China and Hong Kong, representing a year-on-year increase of 60%.

Due to strong development momentum, in recent days, the domestic medical device industry has attracted a large influx of capital, and even some start-ups have obtained substantial capital investment. By the end of September this year, Shanghai Electric Group Co., Ltd. (601727.SH) released Notice, in order to promote the strategic layout in the medical device industry, the company intends to start with the establishment of a joint venture of Zhejiang Lianchuang Yongjun Medical Equity Investment Co., Ltd. (limited partnership) with a total investment of 200 million yuan by its own investors. The scale of the medical fund is expected to be 1.6 billion yuan At the same time, the company intends to jointly set up Zhejiang Lianchuang Yongjun Medical Equipment Industry Investment Management Co., Ltd. (tentative name) jointly with Shanghai Lianchuang Yongjun Equity Investment Management Co., Ltd. The registered capital of the investment management company is 10 million yuan.

In August of this year, AnHan Medical Technology Co., Ltd., a manufacturer of magnetostrictive gastroscopic capsule robots, also announced that it has obtained investment of 600 million U.S. dollars from 6 investment institutions including Dazhong Investment and Softbank China Capital for new product development and market exploration.

Industry giants and multi-channel capital into the game, on the one hand to prove the broad prospects for the pharmaceutical equipment industry, but also to make the competition more intense.CIC knowledge consulting executive director Wang Wenhua in an interview with reporters that the medical device companies not only face the current The competition of international giants, but also the face of competition from other domestic medical device companies to break through in such an environment, companies must have their own intellectual property rights of high-tech products, as well as an international perspective. 'The current competition in the medical device industry, Mainly in the capital and technology are two aspects.With the support of national policy, the capital of all walks of life began to layout the medical profession.So compared to capital, technology is more important in the industry competition.Only with its own core technology, can Developing a virtuous circle of product purchase, maintenance, and renewal will also make a difference in this industry. '

Although benefiting from the policy support from the government, the development prospect of medical device industry in our country is promising. However, according to the analysis of major research reports and industry professionals, the market share of medical devices in China as a whole and the share of high-tech in the total pharmaceutical market are still high There is a big gap.

Prospective Industry Research Institute report shows that the current market of medical devices in China has nearly 400 billion yuan scale, an average annual growth rate of about 23%, but the share of foreign medical devices in the total pharmaceutical market has reached 42%, the share of domestic medical devices only accounted for At the same time, high-tech medical equipment has always been a 'short board' in China's medical device industry and still mainly relies on imports.

To home medical equipment, for example, a few days ago, the reporter from the Shanghai Jiaotong University Affiliated Sixth People hospital Next to a medical device store learned that the store is the best sales of domestic Le An card sphygmomanometer, the average monthly sales of about 50. According to sales staff, compared to imports of medical equipment, domestic brands higher cost , So sales are better.But the salesman admitted that the quality and technology, the accuracy of imported medical equipment than domestic products higher.

At present, China's medical device manufacturing enterprises are relatively small in scale and have no core technologies and core products. In fact, about 70% to 80% of medical device companies can only be assembly companies, mainly importing core components from abroad for assembly, The overall face of 'scattered, chaos, poor' situation. 'Third-party medical services platform founder Maxis Kang pointed out that the current domestic use of more high-end medical equipment are basically imported, in order to narrow the gap, Even achieving "import substitution" is more difficult.

In the history of Shichen view, if the domestic medical device companies rely solely on their own research and development, the cycle is too long, more difficult, in fact, a convenient path is to go abroad to buy high-quality assets, through the acquisition of their core technology, and then The Chinese market now produces a quantity of output. "This period is precisely a good opportunity for capital to enter. Only through the integration of foreign resources can we break the situation of" scattered, chaotic and poor. "However, the problem with the acquisition lies in the high investment.

Wang Wenhua said that the current gap between China's medical device industry and foreign countries is mainly reflected in the product development, capital injection, quality control, as well as the size of the company in four areas. Domestic enterprises should not only be imported from abroad Talent Resources, but also focus on some overseas start-ups with emerging technologies that can enhance their own strength through overseas mergers and acquisitions or the acquisition of patents.

CITIC Securities research data show that China has a total of 14,000 medical device manufacturers, more than 90% of the scale of 20 million yuan in the small and medium enterprises, industry concentration is low, the small and scattered enterprise structure is difficult to bear the pressure of R & D and cost promotion, The weakness of the R & D of enterprises has caused a considerable impact on the industrial cluster effect.

'Ultimately, China's medical equipment business products are mainly concentrated in the low-end, which has led to the current market of small and medium enterprises, low concentration of the industry situation.' Wang Wenhua said that want to form an industrial cluster effect, to increase industry concentration, On the one hand, enterprises need to increase their product lines through horizontal mergers and acquisitions (M & A), and the upstream and downstream industries shift around the vertical expansion of their core businesses. On the other hand, vertical expansion of upstream and downstream medical equipment industries can also increase industry concentration. Upstream and downstream enterprises in the medical device industry, whether raw material suppliers or automation equipment suppliers, can allot small and medium-sized enterprises to layout the medical device industry, improve the industrial chain and reintegrate the fragmented industry. "