Life science industry chain and pharmaceutical equipment: the highlight track of the next decade

Domestic substitution of recombinant protein is feasible. From the research and development strength, brand influence and other aspects, domestic reagent production enterprises and international well-known enterprises still have a big gap, China's recombinant protein scientific research reagent market is still mainly occupied by foreign brands. In 2019, the first and second place in China's recombinant protein reagent market were R&D Systems and PeproTech, accounting for 36% of the market share, and the top two domestic enterprises, Yiqiao Technology and Bypsyth, accounted for less than 10%. Secondly, the market competition pattern is still relatively fragmented, and 55% of the market share is divided by various small companies. However, at present, the product quality of the first echelon of domestic enterprises has been equal to the international first-class products, and the future domestic enterprises are expected to gradually form scale effects by relying on the increasingly rich SKU and brand reputation, and accelerate domestic substitution.

3, high-end instruments and equipment is the first position of life science industry chain localization

Scientific research instruments billions of gold track need to be developed by domestic enterprises. According to EMR statistics, the global high-end scientific research instrument market is expected to reach 300 billion yuan in 2025, with a compound growth rate of about 9.6%. Analytical instruments are an important component of scientific research instruments, accounting for about 45%, of which mass spectrometry is the most important instrument type in analytical instruments, according to the statistics of the Ministry of Science and Technology of China, the value of mass spectrometry instruments belonging to domestic scientific research institutions accounts for the highest proportion of about 20%.

Scientific instruments are the cornerstone of scientific research and technological innovation, an important guarantee for economic and social development and national defense security, and are related to the country's long-term political and economic status, so promoting the healthy and high-quality development of the industry is an important strategy for major countries in the world. In the past ten years, the Ministry of Industry and Information Technology, The State Council, the Development and Reform Commission and other organs have successively issued relevant policies, emphasizing the importance of developing domestic scientific research instrument industry and vigorously supporting the strategic direction of industry development.

Mass spectrometry continues to evolve as a powerful method and analytical tool for detailed analysis of particles and molecules. Applications of the technology span all areas of the life sciences, including basic discovery research projects, food and environmental testing, clinical applications, materials science, and drug and biotherapeutic development. In 2018, the global mass spectrometer accounted for 65% of the biomedical and scientific research fields.

The components of the mass spectrometer mainly include inlet, ion source, mass analyzer, ion detector and data system.

In recent years, China's mass spectrometer market continues to expand, according to statistics, as of 2020, China's mass spectrometer market size reached 14.22 billion yuan, 2010-2020 compound growth rate of 17.77%. North America, Europe and China are the main distribution areas of mass spectrometers, which are closely related to scientific research and pharmaceutical activities in the region. At present, the domestic mass spectrometer market is still dependent on imports, and the mass spectrometer import amount has reached 6.7 billion US dollars in the past three years, and the localization rate is about 5%.

Consumables play an indispensable role in the "life science industry chain". Life science polymer consumables are widely used in various medical and experimental operation application scenarios, involving a wide range of products, including cell culture consumables, molecular biology consumables, filtration/purification experimental consumables, microbiology experimental consumables, instrument and equipment special consumables, reagent consumables, etc. Corresponding to the industry end, including gene sequencing, assisted reproduction, laboratory consumables, in vitro diagnostic consumables, specimen collection and processing.

Throughout the world, the rapid development of various fields of biomedicine has led to the rapid and stable growth of the demand for life science polymer consumables, and it is expected that the global life science polymer consumables market will be about 45 billion US dollars in 2025, with a CAGR of about 13.8%. Due to high industry barriers, China's localization rate in the field of high-end life science polymer consumables is currently less than 5%. The main track of the application side includes customized consumables for IVD instruments, life science experiment consumables, assisted reproductive consumables, gene sequencing consumables, specimen collection and processing. Among them, IVD track concentration is the highest, CR4 reached 50%, so the demand for consumables is the most concentrated, which is conducive to the rapid volume of suppliers, and the IVD market space in the Asia-Pacific region is large, it is expected that the compound growth rate of more than 15% in the next five years, and the incremental space of the consumables market can be expected.