Third-party medical examination | 'The Big Four' | Contest: 70% share

Medical Network July 19th At present, the domestic third-party medical inspection market is dominated by Dean Diagnostics, Golden Field Testing, Ai Dikang, Daan Gene, and the top four leading ICL laboratories, with a total of more than 100 Accounted for about 70% of the entire third-party medical inspection market.

Third-party medical examination, also known as the Independent Medical Testing Center (ICL), refers to an independent legal person's qualification, independent of the medical institution, engaged in medical examination or pathological diagnosis services, and can independently bear the corresponding medical responsibility. Medical institutions. Independent medical laboratories use their cost control, specialization and other advantages to provide medical testing and pathological diagnosis services for various medical institutions.

The independent medical laboratory originated in the United States in the 1920s. After nearly a century of development, the industrial development pattern has been very mature. The data shows that the US clinical testing industry is about 75 billion US dollars, and independent medical laboratories account for about 35%. Market share, in which Quest and Lab have monopolized 70% of the market share. Japan, the EU's ICL industry has a higher penetration rate, accounting for 50% and 67% of the independent medical test market share respectively.

The domestic independent medical test market originated in the 1990s. The enterprises represented by Jinyu Medicine, Dean Diagnostics, and Ai Dikang took the lead in exploring medical inspection outsourcing services. With the breakthrough of genetic testing technology and the promotion of policies, a large number of The company whose genetic testing business is a breakthrough has cut into the independent medical testing market from a technical perspective, leading the development of medical testing technology and promoting the overall scale of the industry.

At present, the domestic third-party medical inspection market is dominated by Dean Diagnostics, Golden Field Testing, Ai Dikang, Daan Gene, and the top four leading ICL laboratories, with a total share of more than 100. According to the third-party diagnostic income of the four companies in 2017, the total revenue of domestic third-party medical inspection institutions exceeds 10 billion yuan. In 2016, the income of medical institutions in China was about 265 billion yuan, accounting for the income of medical institutions according to inspection income. The experience of 10% of income is estimated. In 2016, the scale of China's medical testing market is about 265 billion yuan, and the penetration rate of independent medical testing laboratories is only 3.7%. There is still a large market space.

Table four leading third-party medical inspection market in China

Source of data: Annual reports of companies, prospectus, company official website, market capitalization as of July 12, 2018

Among the four major companies, Jinyu Medical is in a leading position in the number of laboratories, market coverage, and number of inspection items. Dean Diagnostics succeeded in surpassing Aidekang in the second place after listing in 2011. Established in Guangzhou, it has formed a coverage area of ​​South China/Southwest with the Pearl River Delta as the core. Dean diagnosis is based in Hangzhou and has obvious advantages in the Yangtze River Delta region such as Jiangsu, Zhejiang and Shanghai. The third and fourth Aidekang and There are still gaps in the number of medical laboratory and the number of test items compared with Jinyu Medicine and Dean Diagnostics, but Daan Gene has advantages in molecular diagnostic products and services.

Founded in 2003, Jinyu Testing is currently the leading enterprise in the field of independent medical testing in China. With medical testing and pathological diagnosis as its core business, by the end of 2017, the company has established 37 central laboratories across the country (including Hong Kong). More than 20,000 medical customers, the service network covers more than 90% of the country's population.

Its inspection business includes six aspects of physical and chemical mass spectrometry, genome testing, pathological diagnosis, bioluminescence test, immunological test and other comprehensive tests. In the first half of 2017, the company's genomics test revenue was 433 million, accounting for 25% of revenue. More than the traditional chemical luminescence test, become the company's largest inspection project.

At the same time, the company is also actively expanding non-medical inspection and testing business, production and sales and logistics business. Including food hygiene testing, clinical trial research, forensic identification, health checkup, test reagent sales business and other non-medical testing and pathological diagnosis business. In 2017, the company's diagnostic product sales were 49.27 million yuan, health check-up services amounted to 43.3 million yuan, and cold chain logistics service income was 9.95 million yuan, accounting for a small share of overall income.

With the birth of the concept of 'Internet + medical', Jinyu Testing pioneered the national three-level network pathology consultation system. The pathological specimens can be digitally scanned, electronically imaged, transmitted to the company's pathologists using internal information systems and modern Internet tools. And consultation, to achieve remote pathology consultation. Currently is building a comprehensive digital pathology management system, providing a common platform for artificial intelligence pathology-assisted diagnosis industry and product development. Future efforts to use artificial intelligence to assist pathological diagnosis, fully promote the field of precision pathology diagnosis and detection to intelligence Development direction.

The company was founded in 2001, initially as Roche proxy Starting in 2004, the company began to transform into the field of third-party medical diagnosis service outsourcing. In 2011, Dean diagnosed the market. The company determined the national chain-oriented, large-scale expansion strategy, expanding to the whole country at a rate of '4+4', namely annually Four new independent medical laboratories will be opened, and four more points will be prepared for the next year. By the end of 2017, the company has established 38 chained independent medical laboratories. The company has basically completed the national chain of diagnostic services. In 2017, the company Operating income totaled 5.004 billion yuan, of which the diagnostic product income was 2.996 billion, accounting for 59.87%, and the diagnostic service was 1.906 billion, accounting for 38.09%.

Dean Diagnostics has locked in the 'product + service' business model since its inception. On the product, the company provides in vitro diagnostic product agents, such as Roche's biochemical, luminescent immune, molecular diagnostic instruments, etc. In addition, the company focuses on technological innovation, around the organism Diagnostic platforms such as chemistry, human immunology analysis, microbial pathogen analysis, hematology analysis, metabolomics analysis, gene sequencing and molecular biology testing, pathological diagnosis, etc., continuously upgrade technology platforms and test services, and at the same time, Outstanding enterprise Buying core technologies with market competitiveness. For example, in November 2017, SCIEX set up a joint venture to introduce advanced mass spectrometry technology. In April 2018, it cooperated with FMI to introduce NGS sequencing analysis technology to promote tumor diagnosis.

In addition, driven by the 'product + service' model, since 2015, Dean Diagnostics has successively acquired a number of in vitro diagnostic industry leading agents such as Beijing Zhixin, Jinhua Freda, Hangzhou Dege, etc. hospital The channels of the laboratory are used to realize the channel layout of hospitals at all levels in the province.

While the company is accelerating the pace of national chaining, it also implements a horizontal expansion inspection and testing platform, based on the laboratory platform to create a 'diagnosis +' ecosystem, through the layout of high-end physical examination, to carry out judicial identification, to create a cold chain logistics platform, to get involved health Management and other commitment to technology business model innovation.

Aidi Kang Medical Testing Center Co., Ltd. was established on January 8, 2004. It is a third-party independent medical testing institution operating across the region. It has established more than 20 medical laboratories across the country. Currently, Ai Dikang has clinical, Pathology, Reproductive Genetics, Genetic Testing, Clinical Testing 5 Center Laboratories and R&D Centers, more than 20 professional clinical laboratories, providing more than 2,000 testing projects. In addition, Aidekang has its own specialized reagent company and research and development. The center can rely on its subsidiary, Aikang, to supply highly advantageous reagents to hospitals. However, in the future of gene diagnosis, Ai Dikang does not predominate. In addition, according to foreign media reports, informed sources revealed Dikang Preparing to sell the company for about $500 million.

Sun Yat-Sen University Daan Gene Co., Ltd. relies on the strong scientific research platform of Sun Yat-sen University, which is based on molecular diagnostic technology. It integrates the research and development, production, sales of clinical testing reagents and instruments, as well as the clinical laboratory services of national independent medical laboratories. Creature medicine High-tech enterprises. In 2017, Daan Gene Reagent business income was 660 million, accounting for 42.82%, service income was 573 million, accounting for 37.18%, and instrument revenue was 210 million, accounting for 13.67%.

Daan has been planning the molecular diagnostic laboratory (PCR) since 1995. Eight independent laboratories have set up special inspection business, and have cooperated with the hospital (the top three) in the field of non-invasive prenatal genetic testing (NIPT). In many laboratories, in the field of special inspections, Daan has a long-term genetic layout. In the four independent diagnostic laboratories (ICL), Daan genes are temporarily at a disadvantage in terms of scale and profitability, but rely on the company's molecular diagnostic products. The Daan gene is expected to achieve a corner overtaking.