Guidance: Tan Ying.
Data support: whale insight
At the beginning of 20 19, the General Office of the State Council issued the "Pilot Program for Centralized Procurement and Use of Drugs Organized by the State" on June 65438+ 10/7, announcing the arrival of the reshuffle of the pharmaceutical market. Previously, looking back at the many changes in the medical and health industry in 20 18, the tone of the reform has already been set, and the trend of the industry moving towards high-end and localization, technology and innovation-driven has also been revealed. Looking at the 20 18 medical and health industry and investment and financing data, Whale College will take you to interpret the key words of the medical and health industry and gain insight into the future development trends and opportunities of the medical and health industry.
.01.One of the key words of medical and health industry: institutional reform
2065438+March 2008, the State Council ushered in the seventh government institutional reform. For government agencies in the medical and health field, this is the biggest adjustment in the past 30 years, which basically laid the framework and supervision trend of the future medical and health industry system design. From the end of last year to the present, the "procurement with quantity" that caused the industry shock came into being under the background of institutional reform in the State Council.
In the institutional reform of the State Council, the family planning function of the former National Health and Family Planning Commission was weakened, and a new National Health and Wellness Commission was established with "health" as the core. On the basis of the functions of the former Planning Commission, National Health Commission will take the responsibilities of the Office of the Leading Group for Deepening the Reform of Medical and Health System in the State Council and the Office of the National Working Committee on Ageing, and the Ministry of Industry and Information Technology will take the lead in fulfilling the responsibilities of the Framework Convention on Tobacco Control, and state administration of work safety's occupational safety and health supervision and management responsibilities will be included.
In terms of medical insurance, the newly established National Health Insurance Bureau not only undertakes the basic medical insurance function, but also the price management function of drugs and medical services originally undertaken by the National Development and Reform Commission and the medical assistance function originally undertaken by the Ministry of Civil Affairs. Therefore, as a directly affiliated institution of the State Council, the Medical Insurance Bureau will form a more powerful payer system, further affecting the price formation mechanism of drugs and medical services, in order to cope with the increasing trend of medical and health expenses.
Regarding drugs, the functions of the former China Food and Drug Administration were merged into the State Administration of Market Supervision. However, considering the particularity of drug supervision, the State Administration of Market Supervision established the State Administration of Pharmaceutical Products to continue to deepen the reform of drug approval system, promote the innovation of new drug research and development and the consistency evaluation of generic drugs, and accelerate industrial transformation and upgrading.
.02. Key words of medical and health industry: market reshuffle
Since the second half of 20 18, there has been a controversy about "capital winter". Entering 20 19, "capital winter" and "economic downturn" are still hot topics in many industries. Last June, 5438+ 10, based on the investment and financing data of the medical and health industry in the first three quarters of 20 18, Whale Institute released "Everyone is talking about the capital winter. 20 18 has the heat of medical investment dropped? ",judging that 20 18 medical and health field is still a hot spot for investment.
20 18 new economic industry, the average interval between rounds before round b is 520-525 days, and the average interval between rounds after round c is 4 15 -420 days. Compared with historical data, the interval between each round of financing in new economic industries is within the normal fluctuation range. It can be seen that in the "capital winter", ordinary projects may face difficulties such as financing difficulties, while the new economic industry, which has gradually become the economic pillar, is relatively less affected and has the hard power to cross the cycle. Therefore, when the external environment is getting colder and colder, the competitive advantage of high-quality enterprises is more likely to be highlighted and further strengthened.
Focusing on the medical and health industry, except that the interval between the seed/angel wheel and the A wheel exceeds the new economic industry average of 12.8%, the interval after the A wheel is shorter than the new economic industry average. In particular, it is C's turn to D, and the average interval between medical and health industries is only 384 days, which is one month shorter than the average level of new economic industries. This also reflects that before the A round of medical and health projects, investors were more cautious because of the uneven level of the projects, so that the interval cycle exceeded the average level of other industries; However, the projects after Round A usually make progress in experimental data, mechanism verification and business model, and are more welcomed by investors.
Now 20 19 has arrived. Looking back on the investment and financing data of 20 18 medical and health industry, we can see that compared with the past four years, the overall financing amount of 20 18 medical and health industry (78.7 billion yuan) is still rising, with the fastest growth in the fields of medicine and medical services. The total number of financing events in the industry was 824, slightly lower than that in 20 17, but the average single financing amount increased to 95 million yuan, an increase of about 130% compared with previous years.
In addition, in 20 14 years, 48.8% of financing events were less than100000 yuan, and in 20 18 years, the proportion was only 20.5%. The proportion of investment above 100 million yuan has also increased from 5.3% in 20 14 to18/6.7%. It can be seen that investment projects are gradually concentrated in large-scale and industry innovation excellent targets.
In terms of financing rounds, the proportion of angel round financing events in medical and health industry dropped sharply in 20 18, from 49.5% in 20 15 to 22.6%. The proportion of strategic investment increased from 4.6% in 20 14 to 9.7% in 20 18, and the number of mergers and acquisitions increased by 10 times compared with five years ago. The trend of industrial integration has obviously accelerated, and the medical industry is maturing.
On the one hand, regulatory policies encourage product innovation, promote industrial upgrading, and accelerate the integration of domestic drug and device markets with international standards, thus improving domestic service and product quality for a long time; On the other hand, industry innovation and high-end development have become an inevitable trend. Through mergers and acquisitions, enterprises have opened up key links in the industrial chain, and their main business has transformed into high value-added direction.
.03. Medical and health industry Keywords: innovation-driven
With the development of genetic testing, artificial intelligence and other technologies, more innovative products and services have emerged in the 20 18 medical and health industry. Only from the whale quasi-fever, molecular diagnosis, antibody drugs, intelligent diagnosis and other trends. They are all popular sub-sectors of the medical and health industry in 20 18, and most of them are driven by innovative technologies, which is also in line with the government's policy trend of encouraging innovation.
Taking intelligent diagnosis as an example, with the development of artificial intelligence and medical big data, the intelligent diagnosis system trained by a large amount of data is expected to become the fastest application scenario of artificial intelligence in the medical field. According to the data from Whale Insight, nearly 100 enterprises in China are developing intelligent diagnostic products related to medical images, focusing on lung nodules and fundus image screening. At present, most intelligent diagnosis products have not been really applied in clinic, and their application potential in brain diseases and other fields needs to be further explored.
In the field of digital medical care, in addition to intelligent diagnosis, with the development of artificial intelligence technology, the government has gradually paid more attention to the application of medical big data, and the involvement of the three state-owned data groups in the basic operation of data has deepened. In the future, it is expected that the difficulty for enterprises and other industry entities to obtain and use data will be further reduced. On this basis, there will be more innovative products and business models in the digital medical field, which is expected to reshape the ecology of the medical and health industry.
Acknowledgement: The best compliment is your forwarding.