According to the three main directions of investment in the medical industry, one is new drug development, one is medical devices, and one is medical services.
First, the field of new drug development. Drug R&D is still one of the most important investment directions in the medical investment field. In recent years, with the frequent introduction of policies and measures, talent capital, mainly a large number of overseas high-end talent back to China as well as a substantial improvement in the industrial environment, promoting China's biomedical industry continues to move forward, especially Hong Kong stocks and science and technology innovation board for the opening of the pharmaceutical market for the yet to be profitable biotechnology enterprises to bring a new channel of financing, completely changing the financing environment of the biomedical industry, and the development of innovative drugs also The development of innovative drugs has also achieved impressive results, from last year to this year more than a year there are six new drug research and development enterprises listed, such a golden period has attracted the attention of a large number of domestic and international investors.
An analysis of the weight of the entire pharmaceutical investment, biopharmaceuticals are the most important, accounting for 64%, pCms are basically suspended, and APIs are even smaller. The proportion analysis in biopharmaceuticals, antibody, especially monoclonal antibody, this is the main investment hotspot; cell therapy, gene hotspot is the second hotspot; vaccines accounted for 2.3%, and other 10%.
Secondly, the medical device industry -- we believe that it is a demand-driven industry, and this demand is often not the patient's demand, but the demand of the front-line clinicians, so the investment in medical devices must ask the doctor: is this medical device good? How effective is it? Is there a market for it? ...If you can find a big doctor who really has rich clinical experience, you will know once you ask. Phase II clinical devices have far fewer patients to test, and the medical industry is still lacking in companies that really show innovation, or at least are still hard to evaluate, and therefore less attractive.
And then there's healthcare services. Medical services track in the field of medical investment is relatively heavy asset investment, medical services value is more reflected in the middle and late, and before that need to go through countless attempts to peel off the ceiling, a lot of medical services investment is very expensive, but if there is no long-term equipment "expensive investment" and medical model of continuous "expensive innovation". However, without long-term "expensive investment" in equipment and continuous "expensive innovation" in medical models, where can we get high-value results? Our general judgment of this field is: 2014-2016 is the year of layout; 2016-2018 is the year of replication; and after 2018, it is the year of integration and system upgrade. Due to the shortage of healthcare professionals, the lack of development of private insurance planning, the relatively low price of reimbursable services, the concept of high-end medical services is good, but it is difficult to do it to achieve the desired results.