新星体育代理

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疫苗行业全面分析以及投资逻辑 | 新星体育代理 研报

来源: 未知 发布时间:2018-08-01 14:33:31

导读:

BENWENJIANGGAOSUNI:

1、QUANQIU/GUONEIYIMIAOXINGYEXIANZHUANGJIFAZHANQUSHI;

新星体育代理 2、XINXINGYIMIAOPINZHONGJIESHAO;

3、YIMIAOQIYEFENXI;

4、TOUZILUOJI。

新星体育代理 QUANQIUYIMIAOSHICHANG

新星体育代理 2017NIANQUANQIUYIMIAOSHICHANGNIANXIAOSHOUZONGEWEI277YIMEIYUAN,ZHANQUANQIUYAOPINSHICHANGDE3.4%。JUEvaluatePharmaGUCE,DAO2024NIANQUANQIUYIMIAOSHICHANGNIANXIAOSHOUZONGEJIANGDADAO446YIMEIYUAN,FUHEZENGZHANGLVZAI7.1%。CONGQUYUFENBUKAN,OUMEISHICHANGZHANBICHAO60%,SHIYIMIAOXIAOFEIDEZHUYAOSHICHANG,YIMIAOJIEZHONGYISHICHENGSHU,YIYOUPINZHONGJIEZHONGLVDAJIAOGAOSHUIPING,ZENGZHANGKONGJIANXIANGDUIYOUXIAN。ERYIZHONGGUO、YINDU、NANMEIWEIDAIBIAODEXINXINGSHICHANGYOUYUJICHUBORUO,YIMIAOPINZHONGHEJIEZHONGLVXIANGDUICHUYUCHUJISHUIPING,SUIZHEZHENGTIJIEZHONGYISHIDETISHENG,GAISHICHANGGUIMOZHENGZAIJUEQI,YUJIZAIWEILAI5-10NIANNEIXINXINGSHICHANGSHIQUANQIUYIMIAOSHICHANGDEZHONGYAOTUIDONGLILIANG。

ZILIAOLAIYUAN:

(SHANG)EvaluatePharma,(XIA)kalorama information

QUANQIUYIMIAOXINGYEJIZHONGDUGAO,CHUYUGUATOUJINGZHENG。SHICHANGYOUGUOJIZHIYAOJUTOUGONGSIZHUDAO,BAOKUOGELANSUSHIKE、SAINUOFEIBASIDE、MOSHADONG、HUIRUI(NIANXIAOSHOUEJUNZAI55YIMEIYUANYISHANG),SIJIAGONGSI2017NIANYIMIAOFENEZHANQUANSHIJIE90%YISHANG。SIDAJIAZUSHICHANGZHANYOULVGAO,ZENGZHANGSUIRANBUJIXINRUIGONGSIKUAI,DANYOUYUJISHUPANGDA,RENGRANZHANJUSHICHANGTONGZHIDIWEI。YIXIEXINRUIGONGSIZAIJINXIENIANZHANLUTOUJIAO,ZENGZHANGSUDUKUAI,YINovavaxWEIDAIBIAODEYIPIXINYIMIAOQIYEZHENGZAIXUNSUJINRUGONGZHONGSHIYE。TAMENDADUOYIYANFAXINXINGYIMIAOWEIZHUYAOTESE,LIRUNovavaxZHUGONGHUXIDAOHEBAOBINGDU(RSV)YIMIAO。

新星体育代理 ZHU: QIPAODAIBIAO2024NIANYUCEDESHICHANGXIAOSHOUFENE

ZILIAOLAIYUAN:World Preview 2018, Outlook to 2024

GUOWAIYIMIAOXIAOSHOUDAPINZHONGYIXINXINGYIMIAOWEIZHU,BAOKUOJIEHEYIMIAO、DUOLIANDUOJIAYIMIAO、TEZHONGJIBINGYIMIAO,JUYOUGAOJISHUBILEIJIGAOLIRUNDETEDIAN。2016 NIANQUANQIUYIMIAOXINGYEQIAN10DAPINZHONGXIAOSHOUECHAOGUO166YIMEIYUAN,QIZHONGFEIYANYIMIAOXILIE、 HPVYIMIAOXILIE、 DTaPJIQILIANMIAOXILIE、 MASAIFENG-SHUIDOUDAIZHUANGPAOZHENYIMIAOXILIE、KOUFULUNZHUANGBINGDUYIMIAOXILIEDENGWANGWANGSHIYOUZHONGBANGPINZHONGDANSHENG。

2016 年全球疫苗销售前10大品种

SHUJULAIYUAN:wind

新星体育代理 JUZUIXINYUCE,YUJIDAO2024NIANQUANQIUtop5DEYIMIAOPINZHONGQINGKUANGRUXIASUOSHI:

ZILIAOLAIYUAN:2018NIANDISHIJIERENYONGYIMIAODAHUI

(1)未来的重要看点品种:

BAOKUOFEIYANJIEHEYIMIAO(PCV)、JIYINGONGCHENGYIMIAOZHONGDEBINGDUYANGKELIYIMIAO(VLPLEI)、LIANHEYIMIAO(combo)、JIYUXIANBINGDUZAITIDEYIMIAO(virus)JIXINJIBINGYIMIAODENG。

新星体育代理 DUIXINXINGYIMIAODEWEILAIYUQI,XIWANGNENGGOUCHAOXIANGJIGEFANGXIANGFAZHAN,BAOKUOGENGHAODEANQUANXING,GENGYOUDEBAOHUXIAOGUO,GENGDICHENGBENJIZHONGDUANSHOUJIAYIJIGENGKUAISUDEDUILIUXINGXINGJIBINGDEXIANGYING。

(2)未来的市场驱动力及市场机会:

新星体育代理 QUDONGYINSU:YIMIAODEJIAZHIBEIGUANGFANJIESHOU,GONGGONGSHICHANG(public market)HEGERENFUFEISHICHANG(private market)DOUJIADADUIYIMIAODEZHICHU,XINXINGSHICHANGDEKUAISUZENGZHANGJIXINXINGZHONGBANGCHANPINDETUIDONG。

新星体育代理 GUANYUGONGGONGSHICHANGDEQUDONGLIFANGMIAN,WOMENFENXIZHUYAODONGLILAIYUANYUGUOJIAZAIJIHUAMIANYIXIANGMUSHANGDETOURUDECHIXUZENGJIA,ZHEIBUFENDEZENGJIABUFENTIXIANZAIYIYOUFUGAIDEPINZHONGDETOURUZENGJIA,BAOKUOXIANYOUPINZHONGDESHENGJIHUANDAI,TONGSHIHAIZAIBUDUANJIANGYIXIEGERENFUFEIDEPINZHONGZHUBUNARUGONGGONGSHICHANGBUFEN。DUIYINGWOGUODEQINGKUANG,JIWEIZHUBUKUODAYILEIMIAODEFUGAIFANWEI,ZHUBUJIANGYIBUFENYIJINGCHENGSHUDE、JINGSHICHANGDUONIANYANZHENGDEQIEJUYOUGUANGFANYINGXIANGDEGAOYAOWUJINGJIXUESHUXINGDEPINZHONGNARUYILEIMIAO。TONGSHIXINXINGDEHUOBEIHULVEDEJIBINGYIMIAODEBUDUANCHENGXIAN,YESHISHICHANGZENGZHANGDEXINQUDONGLI。SUIZHEQUZHONGXINHUAQUANQIUYIMIAOGONGYINGDEQUSHI,BUFENXINXINGGUOJIAYIMIAOSHICHANGZHUBUFAZHAN,YANZHECHANYELIANMODUANZHUBUXIANGSHANGYOUFAZHAN,CHENGWEIXINXINGSHICHANGDEZHONGYAOFAZHANMOSHIJIDONGLI,TEBIEXUGUANZHUGANGGANGCONGGAVIBIYEDEGUOJIA,ZHENGZAIZAIWAIJIEDEBANGZHUXIAZHUBUJIANLIZIJIGUOJIADEYIMIAOSHENGCHANZHIZAOGONGYINGTIXI,ERZHEIBUFENSHICHANGYESHIXINXINGSHICHANGZENGZHANGDEZHONGYAODONGLI。

新星体育代理 ZAIGERENFUFEISHICHANGFANGMIAN,QUDONGLILAIYUANYUCHENGRENJIZHONGLAONIANRENQUNYIMIAODEKUAISUZENGZHANG,XINXINGSHICHANGDEFUGAILVTISHENG,CHUANGXINXINGYIMIAODEKAIFA、SHENGCHANJIJISHUGEXIN。

新星体育代理 ZAIQUANQIUFANWEINEI,ANZHAOBUTONGNIANLINGZU,WOMENKEYIKANDAOSHICHANGJIYURUXIA:

新星体育代理 (3)WEILAIYIMIAOJISHUDEFAZHANFANGXIANGZHUYAOJIZHONGZAIGONGYIYOUHUA、ZHENGTIGONGYIGONGXUDEYASUO、CHENGBENMOXINGJIJISHUPINGTAIDENGFANGXIANG。

新星体育代理 ZHONGGUOYIMIAOSHICHANG

新星体育代理 XIANGBIJIAOGUOWAIYIMIAOSHICHANGSIDAJUTOUGAODUJIZHONGDESHICHANGJINGZHENGGEJU,WOGUOYIMIAOCHANYEJIZHONGDUDI,CHANYEXIANGDUIDAERBUQIANG。GUONEIYIMIAOSHICHANGGUIMOYUE245YIYUAN,2010-2015NIANFUHEZENGZHANGLVJIN9%。ZHONGGUOSHIQUANQIUZUIDADERENYONGYIMIAOSHENGCHANGUO,MEINIANPIQIANFAYIMIAO5-10YIRENFEN,YIMIAOPINZHONGSHUZAI50ZHONGZUOYOU,QIZHONGYIGUOCHANYIMIAOWEIZHU,JINKOUYIMIAOZHANBIDI(5%YIXIA)。

新星体育代理 ZILIAOLAIYUAN:ZHONGJIANSUO

新星体育代理 GUONEIYOU40JIAYISHANGYIMIAOSHENGCHANQIYE,BANSHUYISHANGDEQIYEJINNENGSHENGCHAN1ZHONGCHANPIN, 2012-2015 NIANNENGSHENGCHAN3ZHONGYISHANGCHANPINDEQIYECHENGZENGZHANGQUSHI,ZHANBIYOU20%ZENGZHANGDAO36%。

ZILIAOLAIYUAN:HUOSHICHUANGZAO

GUONEIYILEIMIAOSHICHANGJIZHONGDUGAO,ZHUYAOYOUZHONGSHENGJITUANXIASHU“LIUDASHENGYANSUO”SHENGCHANGONGYING,YOUZHENGFUZHIFU,JIEZHONGLVGAODA97%YISHANG,JIBENSHIXIANXINSHENGERQUANFUGAI。ERLEIMIAOSHUYUZIYUANJIEZHONG,YIBAOFUGAILVDI,JIEZHONGLVYUFADAGUOJIACHAJUJIAODA,QIZHONGMINYINGQIYEZHANJUJINYIBANSHICHANGFENE。

ZILIAOLAIYUAN:ZHONGJIANYUAN

新星体育代理 CHUANTONGERLEIMIAOTONGZHIHUAJINGZHENGJILIE,ERLEIMIAOCHENGSHUPINZHONGRUKUANGQUANYIMIAO、LIUGANYIMIAO、SHUIDOUYIMIAODENGSHENGCHANCHANGJIAZHONGDUO,SUIZHEXINXINGYIMIAO(13JIAFEIYANJIEHEYIMIAO、HPVYIMIAODENG)LUXUHUOPIYIJISIJIALIUGANYIMIAO、RENERBEITIKUANGQUANYIMIAO、WUJIAKOUFULUNZHUANGBINGDUYIMIAOYIJILIANHEYIMIAODENGSHENGJIHUANDAICHANPINDECHUXIAN,GUONEIERLEIMIAOSHICHANGYINGLAIXINDEZENGZHANGDIAN。

2017年疫苗品种批签发量排名(百万剂)

ZILIAOLAIYUAN:ZHONGJIANYUAN,ANXINZHENGQUAN

XINGYEFAZHANQUSHI

YIMIAOXINGYETEDIANSHIJINRUBILEIGAO、JINGZHENGGEJUXIANGDUIWENGU,XINGYEBENSHENYIPINZHONGWEIZHUYAOKANDIAN,XINDEPINZHONGDAILAIXINDESHICHANGZENGLIANG。

WEILAIGUONEIYIMIAOXINGYEFAZHANQUSHIZAIYU:

新星体育代理 (1)XINGYEJIANGUANYANSHANGJIAYAN,FEIJIANCHANGTAIHUA,CUJINZHENGGEXINGYEDEGUIFANXINGJICHANYESHUIPINGCHIXUTISHENG。

(2)ZHENGHEJIASU,JIZHONGDUTISHENG。GUONEIMUQIANYOU40JIAYISHANGSHENGCHANQIYE,JUYOUDAPINZHONGYANFANENGLIDEQIYESHAO,XINGYECUNZAIBINGGOUZHENGHEQUSHI,QIEBUFENQIYEYIJINGKAISHIXINGDONG。

新星体育代理 (3)PINZHONGDESHENGJIHUANDAI(DUOLIANYIMIAO、DUOJIAYIMIAO),TESEDAPINZHONGDEHUOPI(FEIYANJIEHEYIMIAO、HPVYIMIAO、DAIZHUANGPAOZHENYIMIAODENG),YIJISHANGYOUDUOZHONGJIBINGMEIYOUZHENDUIXINGYIMIAO,RUKANGYUANDUOYANGXINGDEAIZIBINGDUHEBINGGANDENG,HEYIZHONGDACHUANRANBINGBAOFACUISHENGDEYIMIAO,RUAIBOLAYIMIAO、ZHAIKAYIMIAODENG。

新星体育代理 (4)CONGYUFANGXINGYIMIAODAOZHILIAOXINGYIMIAODEKAIFA,RUZHONGLIUZHILIAOXINGYIMIAO。

新星体育代理 (5)GUANZHUWHO-PQRENZHENG,GUANZHUGUOJIDAZONGCAIGOU,GAVICHUZICAIGOU、UnicefCAIGOU,GUANZHUCONGGAVIBIYEDEGUOJIADECAIGOUXUQIU,GUANZHUGATESJIJINHUIDEFUCHIFANGXIANG。

GUONEIYIMIAOSHENGCHANQIYETONGGUOSHIWEIZUZHIYIMIAOYURENZHENG,SHIHUODELIANHEGUODENGGUOJIZUZHIYIMIAOCAIGOUDEQIANTITIAOJIAN。JIEZHI2017NIANDI,WOGUOYIYOUSIKUANYIMIAOTONGGUOWHOYURENZHENG,ZAI“YIDAIYILU”CHANGYIZHIYINXIA,YUJIXIANGGENGDUODEGUOJIAHUODIQUGONGYING。DANYUYINDUXIANGBI,YINDUYIJINGYOU44GEYIMIAOTONGGUOWHOYURENZHENG,ZHONGGUOJIN4GEYIMIAOTONGGUOGAIRENZHENG,ZHUYAOYUANYINZAIYUZHONGGUOQIBUXIANGDUIYINDUJIAOWAN,QIEQIYEZAIZHILIANGGUANLITIXI,YIJIGOUTONGDENENGLIRUOYUYINDU。

2000NIAN,GAICIJIJINHUIFAQICHENGLILEGavi(QUANQIUYIMIAOMIANYILIANMENG),CHENGDOUSHENGCHANDEYIXINGNAOYANJIANDUHUOYIMIAOZAIGaviDEYUANZHUXIABEITUIGUANGZHIXUDUOYAZHOUGUOJIA。2015NIAN,ZHONGGUOCONGGavi“BIYE”,CHENGWEIGaviI JUANZENGZHE,JUANZENG500WANMEIYUAN。UNICEF(LIANHEGUOERTONGJIJINHUI)SHIMUQIANQUANQIUZUIDADEYIMIAOJIZHONGCAIGOUSHANGZHIYI,MEINIANDAIBIAO100GEGUOJIAJINXINGYIMIAOCAIGOU,JINJINIANMEINIANCAIGOUDEYIMIAOCHAOGUO16YIMEIYUAN,QISHULIANGYUEZHANFAZHANZHONGGUOJIAZONGXUQIUDE40%。2017 NIAN9YUE8RI,GUONEIHUALANYIMIAOGONGSISHOUDAOLEUNICEFLIUGANBINGDULIEJIEYIMIAOCAIGOUDINGDAN。LINGWAIXIANGWOSEN、KANGXINUODENGYIMIAOQIYEHUODEBIERJIMEILINDA·GAICIJIJINHUIDEZIJINZHICHI。

QUANQIUYIMIAOCHANGXIAOPINZHONGDADUOSHUYUXINXINGYIMIAOFANCHOU。XINXINGYIMIAOKEZIZHUDINGJIA,JUYOUXIANGDUIJIAOGAODEYINGLINENGLI,BAOZHENGLEQIZENGZHANGQIANLI,QIESHICHANGDETUPOXUYAOXINPINZHONGDEZHICHENG。

2017NIAN2YUEGUOWUYUANYINFAJIAQIANGYIMIAOLIUTONGHEYUFANGJIEZHONGGUANLIGONGZUOYIJIANTIDAO,ZHICHIXINXINGYIMIAOYOUQISHIDUOLIANDUOJIAYIMIAODEYANFAHECHANYEHUA。

13 JIAFEIYANJIEHEYIMIAO、HPVYIMIAO、LUNZHUANGBINGDUYIMIAO、SIJIALIUGANYIMIAO、SHOUZUKOUBINGYIMIAO(EV71YIMIAO)LUXUZAIGUONEISHANGSHIHUOJIJIANGHUOPI。LIANHEYIMIAO(ZHIFEIDEAC-HibSANLIANMIAO、KANGTAIDEDTap-HibSILIANMIAODENG)ZUOWEIYIMIAOSHENGJIHUANDAICHANPIN,ZAIDADAOXIANGTONGMIANYIXIAOGUOQIANTIXIADAFUJIANSHAOJIEZHONGCISHU,SHIYIMIAOWEILAIFAZHANDEZHULIUFANGXIANG。YINCIDUIYISHANGJIZHONGXINXINGYIMIAODAPINZHONGJINXINGJIANDANFENXI:

(1)LIUDASUO+KUNMINGSUO:GUOYOUBEIJING,ZHENGTIYANFASHILIQIANG,ZAIYILEIMIAOSHICHANGZHONGZHANYOULONGDUANDIWEI,ERLEIMIAOZHONGYECANYUJINGZHENG

新星体育代理 (2)DAXINGMINYINGYIMIAOSHANGSHIQIYE:ZIJINJIYANFASHILIQIANG,CHANPINGUANXIANFENGFU

(3)QITAQIYE

GUONEIBUFAYOUYIDINGXIAOSHOUEDEWEISHANGSHIYIMIAOQIYEHUOJUYOUXINXINGYIMIAOYANFANENGLIDECHUCHUANGQIYE,JUTIBIAODEZANBULIECHU,KECANKAOXIASHUDETOUZILUOJIQUXUANZE。

(1)GUANZHUYIMIAOPINZHONGCHANPINXIANBUJUFENGFU,XINXINGYIMIAOPINZHONGZHANBIGAOJIYANFAJINDUKUAIDEQIYE。

新星体育代理 CONGZHANGQILAIKAN,YIMIAOXINGYEDECHIXUZENGZHANGZUNXUNYIYAOFAZHANDEBIRANGUILV——JISHUNENGLIJUEDINGQIYEJIAZHI。CONGFAZHANQUSHILAIKAN,XINXINGYIMIAO(JIEHEYIMIAO、DUOLIANDUOJIAYIMIAO、TEZHONGJIBINGYIMIAO)YICHENGWEIGONGRENDEZHULIU,XUYAOQIYEJUBEIZHENDUIXINGDEYIMIAOFENLI、CHUNHUA,SHENZHIBUFENTEDINGJIEGOUDEPEIYANGSHENGCHAN、TANGJIHUADENGGAONANDUZHIBEIJISHU,ZHEISHICHUANTONGYIMIAOQIYEBUJUBEIDEJISHUNENGLI,XUYAOQIYEJIADAYANFATOURU,YINRUSHENGWUGONGCHENGLINGYUDEGAOJIRENCAITUANDUI。ZAIGUONEIYIMIAOPINZHONGTONGZHIHUAYANZHONGDEHUANJINGXIA,JUBEIXINXINGYIMIAOKAIFANENGLIDEQIYEJIANGJUBEICHIXUCHENGZHANGDEDONGNENG。

新星体育代理 YINCI,YINENGGOUSHENGCHANDEPINZHONGDUOSHAOLAIPANDUANYIMIAOQIYEZONGHESHILI,NENGSHENGCHANDEPINZHONGYUEDUODESHILIYUEQIANG;QICI,DUIYUGUONEIFEIZHONGSHENGJITUANDEYIMIAOGONGSI,YINGYIXINXINGYIMIAOPINZHONGZHANBILAIPANDUANQIYEJISHUXIANJINXING。

新星体育代理 (2)GUANZHUYIMIAOQIYEYINGXIAO、TUIGUANGNENGLI

新星体育代理 SUIZHERENKOULAOLINGHUADEQUSHIJIAJU,YIJIERTAIZHENGCEDEQUANMIANSHISHI,ZHONGGUOYIMIAOXINGYERENGJUYOUHENDADEFAZHANKONGJIAN。DUIYUQIYEERYAN,ZAIYIMIAOJIEZHONGQUDAOXIAFANGDEQUSHIXIA,XUYAOJINXINGXIANGYINGZHISHIDEJIAOYUTUIGUANG,ZENGQIANGJICENGWEISHENGCONGYEZHEJIXIAOFEIZHEDUIJIEZHONGYIMIAOBIYAOXINGDERENSHI,TIGAOQIYEPINPAIZHIMINGDU。GUANYUPIQIANFASHUJU,GAISHUJUNENGTIXIANDANGQIYIMIAOGONGSICHANPINHEGEHUOPIQINGKUANG,YIDINGCHENGDUSHANGFANYINGXIAOSHOUQINGKUANG,DANPIQIANFABINGBUDAIBIAOSHIJIXIAOSHOULIANG,QIYEZAIJIKONGZHONGXIN、WEISHENGFANGYIZHANDENGDEZUIZHONGSHIJIXIAOSHOUSHUJUDAIBIAOQIYEDESHIJIYINGXIAONENGLI。

作者简介:

班博

新星体育代理 投资集团 业务合伙人

SHENYANGYAOKEDAXUEWEISHENGWUZHUANYEJIQINGHUAGUOJIMBAFUHEBEIJING,YONGYOUXINYAOYANFA、GONGYIKAIFA、SHICHANGXIAOSHOU、SHANGSHIGONGSIBINGGOUZHONGZUDENGFENGFUDECHANYEJINGYANJITOUZIJINGYAN,XIANHOUJIUZHIYUHUARUNSAIKE、HUIRUI、WOSENDENGGUOJIYILIUJUTOUZHIYAOQIYEJIGUONEIYIYAOSHANGSHIGONGSI。ZAISHENGWUYIYAOLINGYUJINGYANFENGFU,TOUZIXIFENLINGYUHANGAIKANGTIYAO、YIMIAO、XIBAOZHILIAO、WEISHENGWU、YILIAOFUWU、IVDDENG。

霍星宇

新星体育代理 投资集团 行业研究员

WUHANDAXUEYAOXUEXUESHI,BEIJINGXIEHEYIXUEYUANYAOLIXUESHUOSHI,MUQIANZHUYAOGUANZHUYIMIAO、YIDAOSUDENGSHENGWUYAOYIJIHUAYAOFANGZHIYAOFANGMIANDETOUZIJIHUI。