Recently, pharmaceutical stocks have strengthened collectively, with Chinese medicine up 1.
57%, chemical pharmaceuticals up 1.
54%, and private hospitals up 1.
42%
.
From the perspective of securities companies, the pharmaceutical sector has bottomed out in the early stage, and the future pharmaceutical structural market can be expected.
It is recommended to pay attention to the three main lines
.
1.
In the future, the pressure of medical insurance will become the norm, and look for a medical insurance immunization track
1.
In the future, the pressure of medical insurance will become the norm, and look for a medical insurance immunization track
On the one hand, you can focus on self-consumption varieties such as traditional Chinese medicine consumer goods, self-funded biological drugs, as well as relatively high-prosperous tracks such as medical beauty and ophthalmic equipment
.
On the other hand, the pharmaceutical equipment sector is also favored by the industry
.
The industry believes that the pharmaceutical equipment sector has experienced a sharp correction for more than a year, and the future funds may flow to the pharmaceutical equipment sector with higher risk and return
.
"The growth space of the medical device sector is relatively large.
The advancement of a series of favorable policies has released positive policy signals to the market.
At the same time, the overall valuation level of the medical device sector is at a historically low level, and long-term investment is relatively cost-effective
.
"
2.
Focus on the main line of recovery in the post-epidemic era
2.
Focus on the main line of recovery in the post-epidemic era
This main line mainly includes traditional Chinese medicine, medical services, pharmaceutical outsourcing and other sectors
.
Among them, the traditional Chinese medicine sector continues to benefit from favorable policies, product price increases, and the reform of state-owned enterprises.
The industry believes that branded OTC traditional Chinese medicines have independent pricing power, and other Chinese patent medicines have moderately reduced prices for centralized procurement.
The overall valuation of the sector is cost-effective
.
3.
The importance of independent and controllable pharmaceutical industry chain is becoming increasingly prominent
3.
The importance of independent and controllable pharmaceutical industry chain is becoming increasingly prominent
Especially the upstream of the pharmaceutical industry chain, including biopharmaceutical pharmaceutical equipment and consumables, life science products and services, imaging equipment, etc.
, deserve attention
.
Among them, biopharmaceutical equipment and consumables benefit from the vigorous development of the domestic biopharmaceutical industry and its own technological progress, and the demand is strong
.
According to the research report data released by CITIC Construction Investment, the global biological drug market space will increase from 286 billion US dollars in 2019 to 768 billion US dollars in 2030; China's biological drug market space will increase from 312 billion yuan in 2019 to 13,030 yuan in 2030.
billion
.
At the same time, the penetration rate of the global one-off process is continuously increasing, and the domestic one-off process capacity scale is also in a stage of rapid growth
.
At present, domestic biopharmaceutical equipment and consumables are mainly occupied by imported manufacturers in the high-end market, which means that there is huge room for domestic substitution in the future
.
Life science products and services have also developed rapidly since the epidemic.
With the advancement of research methods and experimental technologies, as well as the continuous entry of capital, the industry has entered a stage of vigorous development
.
According to Frost & Sullivan data, from 2015 to 2019, the global research capital investment in the field of life sciences increased from US$116.
6 billion to US$151.
4 billion, with an average annual compound growth rate of 6.
7%; China's research capital investment in the field of life sciences increased from 43.
4 billion yuan To 86.
6 billion yuan, the average annual compound growth rate is as high as 18.
8%
.
Imaging equipment in the medical device industry has high barriers, and the high-end market has been monopolized by foreign capital for a long time
.
However, in recent years, with the continuous efforts of some powerful domestic enterprises, they have achieved corner overtaking through technological innovation, and are expected to achieve import substitution in the future
.
With the policy dividend and the aging of the population, the industry expects that the Chinese imaging equipment market is expected to usher in new opportunities.
At the same time, the international market is gaining momentum, and leading companies are expected to embrace more development opportunities
.
The data shows that in 2020, the global medical imaging equipment market size will reach 43 billion US dollars, of which China's market size will reach 53.
7 billion yuan, and the CAGR from 2015 to 2020 will be 3.
3% and 12.
4% respectively; it is expected to reach 62.
7 billion US dollars in 2020-2030.
and 108.
5 billion yuan
.
