Guo Ji Jin Rong Bao·2025-06-19 07:39Core Viewpoint - The blood products industry is experiencing significant consolidation, highlighted by China National Pharmaceutical Group's acquisition of a 21.03% stake in Palin Bio for 4.6 billion yuan, which is a high premium acquisition that will reshape the industry landscape [1][5]. Company Summary - China National Pharmaceutical Group's acquisition will increase its control over the blood products market, consolidating its position as the leading player with a total of 154 plasma stations across its subsidiaries, including Tian Tan Biological and Wei Guang Biological [6][9]. - Palin Bio has undergone multiple ownership changes, with its history marked by internal conflicts that have hindered its growth. The company has changed hands six times, with the latest acquisition by China National Pharmaceutical Group marking a potential end to its tumultuous ownership history [3][4]. Industry Summary - The blood products industry is characterized by a high degree of concentration, with major players like Tian Tan Biological, Shanghai Laishi, and Palin Bio dominating the market. The industry is moving towards an oligopolistic structure, with the number of companies decreasing significantly over the years [8][11]. - The global blood products market is projected to exceed $50 billion in 2024 and reach over $90 billion by 2030, indicating substantial growth potential driven by increasing demand for blood products due to aging populations and the need for critical medical supplies [8][10]. - China's blood products market is expected to grow significantly, with projections of reaching 60 billion yuan in 2024 and 95 billion yuan by 2030. The industry faces challenges such as limited raw material supply and strict regulations on blood plasma collection [11][12].