Industry Overview
1, Definition
Independent Medical Laboratory refers to a medical laboratory that is licensed by the health administration department with an independent Legal personality, independent of medical institutions, engaged in medical testing or pathology diagnostic services, can independently assume the corresponding medical responsibility of the medical institutions, the use of its intensive management, specialization and other advantages of the division of labor for various types of medical institutions to provide professional and efficient medical testing and pathology diagnostic services. At present, China's independent medical laboratory testing is mainly divided into medical testing and pathology diagnosis.
2, industry chain analysis: more enterprises in the upper reaches of the industry chain
Independent medical laboratories in the diagnostic industry in the middle reaches of the upper reaches of the test instrument and reagent manufacturers, downstream of the various types of health care institutions (hospitals, maternity and child health care centers, health centers, etc.) and inspectors. They receive commissions from various medical service organizations, centralize the testing of samples collected by these organizations, and send the test results back for clinical application.
The upstream of independent medical laboratories are medical devices and medical reagents, and the representative companies of medical devices are Berry Genetics (000710), Myriad Healthcare (300760), Lidman (300289), Wanfu Biological (300482) and Kewa Biological (002022); and the representative companies of medical reagents are AnTuBio (603658), Zhongsheng North Control (08247) and Dean Diagnostics (300244); midstream for independent medical laboratories, the industry's leading enterprises are Dean Diagnostics (300244), Duane Gene (002030), Jinhui Medicine (603882), Aidikang; downstream hospitals are ST Hengkang (002219), Jiemin Medical (603222), International Medical ( 000516) and Yonghe Zhicheng (00275).
Industry development history: the industry is in the expansion and upgrading stage
Before 2000, the independent medical laboratory medical fee-control conditions were initially formed in 1985 to control the main fee-control, reform of the medical funds to support the way, forcing hospitals to start controlling the cost; 2001-2013, the leading enterprises to highlight the chain of ICL began to expand rapidly. Leading ICL enterprises quickly established and expanded, the industry is in a period of rapid expansion; 2014 to the present, the industry is in a period of expansion and upgrading, at this time, the industry enterprises to "strategic sinking + business extension + technology upgrading", from the vertical and horizontal at the same time to expand the scope of business.
Industry policy background: policy support, the industry gap gradually fill
Since 2006, the Development and Reform Commission, the Health Commission, and other departments have been issued to support and regulate the development of independent medical laboratory industry policy, the content of which involves the establishment of national independent medical laboratories to guide as well as to support, and pointed out that the completion of the infrastructure construction of disease prevention and control institutions at all levels. Disease prevention and control organizations to build infrastructure.
Industry Development Status
1, industry demand
In the hierarchical diagnosis and treatment and health insurance policies such as fee-control drive, more and more medical institutions choose to cooperate with independent medical laboratories, thereby reducing the cost of testing to maintain the level of profitability, and thus independent medical laboratories. Laboratory's single-store scale is expanding. In addition, the development of independent medical laboratory technology to complete more complex clinical testing programs, also promote the expansion of independent medical laboratories single store scale. Therefore, in recent years, the market size of China's independent medical laboratory industry has maintained a rapid growth trend.
Based on the "Health Statistics Yearbook" in the outpatient testing demand and hospitalization inspection demand can be measured in 2020 China's medical testing services demand scale of about 398.5 billion yuan, according to the 2020 China's independent medical testing volume of business in the entire medical testing market penetration rate of 8% to estimate that in 2020 China's independent medical testing demand capacity of about 31.9 billion yuan.
2, business supply
The number of independent medical laboratories in China began to explode in 2010, according to the data disclosed by the China Food and Drug Administration Network, the number of ICLs in the country from 129 in 2012 to the end of 2020 has exceeded 1600.
3, industry development mode analysis
The development mode of independent medical laboratories can be divided into two categories: comprehensive independent medical laboratories and specialized independent medical laboratories, with different business characteristics and revenue sources. The representative enterprises of comprehensive independent medical laboratories are Dean Diagnostics, Jinwei Medicine and Aidikang; professional independent medical laboratories are Hangzhou Zhiyuan and Fangda Holdings.
Industry competition
1, regional competition: Guangzhou and the southeast coast of the industry gathered
Currently, the domestic independent medical laboratories are mainly concentrated in the coastal developed areas. The overall competition pattern appears "the country is still scattered, the regional initial concentration" pattern. 2020, China's independent medical laboratories are distributed in Guangzhou, Jiangsu, Beijing, Zhejiang, Shanghai, Shandong, six provinces, the number of independent medical laboratories accounted for a large number. At present, the independent medical laboratory representative enterprises around the different regional branches of the leading enterprises, the strength of such enterprises, operating areas throughout the country's major cities.
2, enterprise competition: the first echelon of the competitive advantage is more obvious
In accordance with the number of test items and the scope of the test to the comprehensive division of China's independent medical laboratories, the first echelon of independent medical laboratories for the gold medical, Dean Diagnostics, Aidikon, as the representative of the number of test items to provide more than 2,600 items of the leading independent laboratories; the second echelon to the Berry Genetics, the number of test items to provide more than 2,600 items of independent laboratories. The second echelon for the Berry gene, Fangda Holdings, represented by independent medical laboratories specializing in specific areas of testing services; the third echelon of the industry for other small and medium-sized independent medical laboratories.
Domestic independent medical laboratories are mainly concentrated in the Dean Diagnostics, Goldcorp, Daan, Adicon four companies, the four laboratory chains accounted for the vast majority of the market share. Among them, Dean Diagnostics and Daan Genetics were established earlier, in the "product + service" on the dual layout. As a leading independent medical laboratory, Golden Medica, the number of cooperative medical institutions as many as 22,000, diagnostic services in 2020 revenue of up to 7.870 billion yuan.
Industry development prospects and trend forecast
1., industry development trend: "14th Five-Year Plan" period to focus on improving detection and innovation capacity
"Fourteenth Five-Year" period, in the new crown epidemic demand, driven by the provinces and cities are planning the development of China's independent medical laboratory industry, mainly focusing on improving the laboratory's ability to detect and innovation.
2, industry demand trends: independent medical laboratory penetration rate is expected to increase significantly
Currently, independent medical laboratories in China penetration rate is low, about 5%, 2020 China's independent medical testing industry market size of nearly 31.9 billion yuan. But benchmarked against the United States, Europe, Japan and other mature markets more than 50% penetration rate, China's third-party testing market has great potential for development.
With the trend of health insurance outsourcing has become the mainstream, the penetration rate of independent medical laboratories is expected to increase, if China's independent medical laboratory business in 2025 penetration rate to the United States (30%) level, combined with the scale of China's demand for medical testing, China's independent medical laboratory market size can reach 174 billion yuan; if the penetration rate to the level of Europe (50%), the market size of nearly 290 billion yuan; if the penetration rate to Japan (60%) level, the market size is as high as 348 billion yuan.
(Note: According to the "Health Statistics Yearbook" in the demand for outpatient testing and hospitalization demand for preliminary statistics in 2020 China's demand for medical testing services, combined with the growth rate of the market to estimate the demand for medical testing services in 2025.)
The above data refer to the Prospect Industry Research Institute China Independent Medical Laboratory Industry Outlook Forecast and Investment Strategy Planning Analysis Report.