The advent of the M&A era in the blood product industry will continue to increase
2021-02-20 09:21:23
Business Club December 14 News In 2009, the global blood product market reached 13.4 billion US dollars, an increase of 16.7% compared with 2007. Blood products giant Australian multinational CSL Behring, American biopharmaceutical company Talecris Biotherapy, Spanish healthcare company GrifoLS SA, Baxter International and Swiss biopharmaceutical company Octapharma AG share most of the market share.
Like the global blood product market, the blood product market in China has also shown rapid growth in recent years. In 2009, China's blood product market reached 7 billion yuan (1.04 billion US dollars), an increase of 10% year-on-year. Shanghai Laise Blood Products Co., Ltd., Hualan Bio-Engineering Co., Ltd. and Beijing Tiantan Biological Products Co., Ltd. have become leaders in the domestic blood product market. However, most of the blood product companies in China are small in scale and their development is limited by factors such as capital, technology, and raw materials.
Compared with developed countries, the market concentration of blood products in China is relatively low. From the perspective of the amount of pulp to be put in, the annual amount of blood products produced by the blood product manufacturers in the first tier is usually 300 to 500 tons, which is far below the threshold of 1200 tons of foreign blood product giants. The size of the slurry does not only reflect the scale effect of the company, but also reflects the company's control of plasma resources. It can be seen from this that there is a great deal of merger and acquisition space between China's blood product manufacturers.
At present, China's blood product manufacturing enterprises can be divided into three levels according to the scale and product category. At the first level, large-scale enterprises represented by Hualan Biological, Shanghai Lai Shi and Tiantan Biological are represented; The 10 plasma apheresis stations have a relatively single product line and have an exclusive plasma source in the region. At the third level, they are small companies with absolutely no advantages in product lines and plasma stations.
As the Ministry of Health stipulates that “the blood product registered by the blood product manufacturing unit is less than 6 varieties, it may not apply for the establishment of a new apheresis plasma stationâ€, therefore, the first class blood product manufacturer will obtain more resources from the capital market. The strength has been continuously strengthened. However, due to the monopoly of blood collection stations in some regions (if it is not allowed to establish more than two blood collection stations or cross-regional blood collection), the development of the central and western regions will be low, and new blood collection stations will be less and less, with a single product. The structural second and third blood product manufacturers will face the possibility of being acquired, while other blood product manufacturers at the third level may eventually be eliminated due to lack of strength.
In fact, the blood products currently produced in China cannot meet the growing demand of the market. It is estimated that the number of hemophilia patients in China has reached 80,000 to 100,000, of which 4/5 are due to the lack of certain factors in the blood. But for a long time, less than 10% of patients have received regular treatment.
The foreign manufacturers of blood products have already smelled the huge business opportunities in the blood product market in China. On the one hand, they are making huge profits by exporting blood products to China; on the other hand, they are looking for opportunities to acquire Chinese blood product manufacturers or set up production bases directly in China. Multinational blood product giants such as CSL Behring and Baxter International have begun to make overall arrangements in China, hoping to take the initiative in this area in the future.
With the development of China's blood product industry, the gradual increase in market concentration, and the layout of foreign-funded enterprises, the competition in the blood product market will continue to intensify, and the era of corporate mergers and acquisitions will follow.
Like the global blood product market, the blood product market in China has also shown rapid growth in recent years. In 2009, China's blood product market reached 7 billion yuan (1.04 billion US dollars), an increase of 10% year-on-year. Shanghai Laise Blood Products Co., Ltd., Hualan Bio-Engineering Co., Ltd. and Beijing Tiantan Biological Products Co., Ltd. have become leaders in the domestic blood product market. However, most of the blood product companies in China are small in scale and their development is limited by factors such as capital, technology, and raw materials.
Compared with developed countries, the market concentration of blood products in China is relatively low. From the perspective of the amount of pulp to be put in, the annual amount of blood products produced by the blood product manufacturers in the first tier is usually 300 to 500 tons, which is far below the threshold of 1200 tons of foreign blood product giants. The size of the slurry does not only reflect the scale effect of the company, but also reflects the company's control of plasma resources. It can be seen from this that there is a great deal of merger and acquisition space between China's blood product manufacturers.
At present, China's blood product manufacturing enterprises can be divided into three levels according to the scale and product category. At the first level, large-scale enterprises represented by Hualan Biological, Shanghai Lai Shi and Tiantan Biological are represented; The 10 plasma apheresis stations have a relatively single product line and have an exclusive plasma source in the region. At the third level, they are small companies with absolutely no advantages in product lines and plasma stations.
As the Ministry of Health stipulates that “the blood product registered by the blood product manufacturing unit is less than 6 varieties, it may not apply for the establishment of a new apheresis plasma stationâ€, therefore, the first class blood product manufacturer will obtain more resources from the capital market. The strength has been continuously strengthened. However, due to the monopoly of blood collection stations in some regions (if it is not allowed to establish more than two blood collection stations or cross-regional blood collection), the development of the central and western regions will be low, and new blood collection stations will be less and less, with a single product. The structural second and third blood product manufacturers will face the possibility of being acquired, while other blood product manufacturers at the third level may eventually be eliminated due to lack of strength.
In fact, the blood products currently produced in China cannot meet the growing demand of the market. It is estimated that the number of hemophilia patients in China has reached 80,000 to 100,000, of which 4/5 are due to the lack of certain factors in the blood. But for a long time, less than 10% of patients have received regular treatment.
The foreign manufacturers of blood products have already smelled the huge business opportunities in the blood product market in China. On the one hand, they are making huge profits by exporting blood products to China; on the other hand, they are looking for opportunities to acquire Chinese blood product manufacturers or set up production bases directly in China. Multinational blood product giants such as CSL Behring and Baxter International have begun to make overall arrangements in China, hoping to take the initiative in this area in the future.
With the development of China's blood product industry, the gradual increase in market concentration, and the layout of foreign-funded enterprises, the competition in the blood product market will continue to intensify, and the era of corporate mergers and acquisitions will follow.
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