Is there a future for medical laboratory technology?

The main listed companies in the industry: Berry Gene (0007 10), Fonda Holdings (0 152 1), Dean Diagnostics (300244), Daan Gene (002030), Jinyu Pharmaceutical (603882) and Kang Sheng Global (002).

The core data of this paper: industry competition pattern, industry demand scale and industrial chain.

General situation of industry

1, definition

Independent medical laboratory refers to a medical institution with independent legal personality, independent of medical institutions, engaged in medical inspection or pathological diagnosis services, and able to independently undertake corresponding medical responsibilities under the permission of the health administrative department. Taking advantage of its intensive management and specialized division of labor, it provides professional and efficient medical inspection and pathological diagnosis services for various medical institutions. At present, the inspection of independent medical laboratories in China is mainly divided into medical inspection and pathological diagnosis.

2. Industrial chain analysis: There are many upstream enterprises in the industrial chain.

Independent medical laboratory is located in the middle of the diagnostic industry, and the upstream is the manufacturers of testing instruments and reagents, as well as various medical institutions (hospitals, maternal and child health centers, health centers, etc.). ) and downstream inspectors. Entrusted by various medical service institutions, they concentrated on testing the samples collected by these institutions and sent the test results back to clinical application.

The upstream of independent medical laboratories are medical devices and medical reagents. The representative enterprises of medical devices include Berry Gene (0007 10), Mindray Medical (300760), Lidman (300289), Wanfu Bio (300482) and Ke Hua Bio (002022). The representative enterprises of medical reagents are Antu Bio (603658), Zhongsheng Beikong (08247) and Dean Diagnostics (300244). Midstream is an independent medical laboratory. At present, the leading enterprises in the industry include Dean Diagnostics (300244), Daan Gene (002030), Jinyu Medicine (603882) and Aidikang. Downstream hospitals include ST Hengkang (0022 19), Ji Min Medical (603222), International Medicine (0005 16) and Yonghe Zhikong (00275).

Industry development process: the industry is in the stage of expansion and upgrading.

Before 2000, under the condition of controlling medical expenses, an independent medical laboratory was initially formed. 1985 focuses on cost control, and reforms the matching mode of medical expenses, forcing hospitals to start controlling costs. In 200 1-20 13, leading enterprises emerged and chain ICL began to expand rapidly. ICL leading enterprises have been established and expanded rapidly, and the industry is in a period of rapid expansion; Since 20 14, the industry is in the period of expansion and upgrading. At this time, enterprises in the industry carry out "strategic sinking+business extension+technology upgrading" to expand their business scope from both vertical and horizontal aspects.

Industry policy background: policy blessing, industry gap gradually filled.

Since 2006, the National Development and Reform Commission, the Health and Health Commission and other departments have successively issued policies to support and standardize the development of independent medical laboratories, covering the guidance and support for the establishment of national independent medical laboratories, and pointed out that the infrastructure construction of disease prevention and control institutions at all levels should be completed.

Current situation of industry development

1, industry demand

Driven by the policies of graded diagnosis and treatment and medical insurance fee control, more and more medical institutions choose to cooperate with independent medical laboratories, thus reducing inspection costs and maintaining profitability, so the scale of independent medical laboratories continues to expand. In addition, the development of independent medical laboratory technology enables it to complete more and more complex clinical laboratory projects, which also promotes the expansion of independent medical laboratories. Therefore, in recent years, the market scale of China's independent medical laboratory industry has maintained a high-speed growth trend.

According to the demand of the Yearbook of Health Statistics for outpatient examination and inpatient examination, it can be predicted that the demand for medical examination service in China will be about 398.5 billion yuan in 2020. According to the estimation that the penetration rate of China's independent medical laboratory service in the whole medical laboratory market is 8% in 2020, the demand capacity of China's independent medical laboratory in 2020 is about 31900 million yuan.

2, enterprise supply

The number of independent medical laboratories in China began to break out at 20 10. According to the data disclosed by China Food and Drug Network, the number of ICL in China has increased from 20 129 in 2002 to more than 600/kloc-0 by the end of 2020.

3. Analysis of industrial development mode

The development model of independent medical laboratory can be divided into comprehensive independent medical laboratory and professional independent medical laboratory, and their business characteristics and income sources are different. The representative enterprises of comprehensive independent medical laboratories include Dean Diagnostics, Jinyu Medicine, Aidikang, etc. Professional independent medical laboratories include Hangzhou Zhiyuan and Fangda Holdings.

Industry competition pattern

1. Regional competition: Guangzhou and the southeast coast are industrial gathering places.

At present, independent medical laboratories in China are mainly concentrated in developed coastal areas. The overall competition pattern has a pattern of "the whole country is still scattered and the regions are initially concentrated". In 2020, China's independent medical laboratories are mostly distributed in Guangzhou, Jiangsu, Beijing, Zhejiang, Shanghai and Shandong provinces, with a large number of independent medical laboratories. At present, the representative enterprises of independent medical laboratories around the country are mostly different regional branches of leading enterprises, with strong strength and operations in major cities across the country.

2. Enterprise competition: The first echelon has obvious competitive advantages.

Judging from the number and scope of testing items, the first echelon of China Independent Medical Laboratory is a leading independent laboratory with more than 2,600 testing items represented by Jinyu Medicine, Dean Diagnostics and Aidikang. The second echelon is an independent medical laboratory, represented by Berry Gene and Fonda Holdings, specializing in testing services in specific fields. The third echelon is other small and medium independent medical laboratories in the industry.

Independent medical laboratories in China are mainly concentrated in four enterprises: Dean Diagnostics, Jinyu, Daan and Adicon, and these four chain laboratories occupy most of the market. Among them, Dean Diagnostics and Daan Gene were established earlier, and "product+service" was laid. As a leading enterprise in independent medical laboratories, Jinyu Pharmaceutical has 22,000 cooperative medical institutions, and its diagnostic service income will reach 7.87 billion yuan in 2020.

Industry development prospect and trend forecast

1. Industry development trend: During the Tenth Five-Year Plan period, efforts will be made to improve the detection innovation capability.

During the "14th Five-Year Plan" period, driven by the epidemic demand in COVID-19, all provinces and cities have planned the development of independent medical laboratory industry in China, focusing on improving the detection ability and innovation ability of laboratories.

2. Industry demand trend: the penetration rate of independent medical laboratories is expected to increase significantly.

At present, the penetration rate of independent medical laboratories in China is low, about 5%. In 2020, the market size of China's independent medical laboratory industry will be nearly 310.90 billion yuan. However, judging from the penetration rate of more than 50% in mature markets such as the United States, Europe and Japan, China's third-party testing market has great development potential.

With the trend of medical insurance outsourcing becoming the mainstream, the penetration rate of independent medical laboratories is expected to continue to increase. If the business penetration rate of independent medical laboratories in China reaches the level of the United States (30%) in 2025, combined with the scale of medical inspection demand in China, the market scale of independent medical laboratories in China can reach 654.38+74 billion yuan; If the penetration rate reaches the level of Europe (50%), the market size will be nearly 290 billion yuan; If the penetration rate reaches the level of Japan (60%), the market size will reach 348 billion yuan.

(Note: According to the demand of outpatient inspection and inpatient inspection in the Yearbook of Health Statistics, the demand scale of medical inspection service in China in 2020 is preliminarily calculated, and then the demand scale of medical inspection service in 2025 is calculated in combination with the market growth rate. )

For the above data, please refer to the analysis report of Prospective Industry Research Institute "Industry Prospect Forecast and Investment Strategic Planning of Independent Medical Laboratories in China".