Investment Rating - The industry is rated with 4 stars [30] Core Insights - The human coagulation factor VIII market size increased from 3.813 billion to 7.392 billion CNY from 2018 to 2023, with a compound annual growth rate (CAGR) of 14.16% [27] - The market is expected to grow from 8.366 billion to 12.587 billion CNY from 2024 to 2028, with a CAGR of 10.75% [27] - The number of hemophilia A patients in China is over 120,000, with a treatment rate of only about 30%, indicating significant growth potential for the market [18][28] Industry Definition - Hemophilia A is a hereditary bleeding disorder caused by a deficiency of coagulation factor VIII, leading to uncontrolled bleeding [5][6] - Human coagulation factor VIII is primarily synthesized in liver cells and is crucial for correcting bleeding disorders caused by its deficiency [6] Industry Characteristics - The human coagulation factor VIII industry is characterized by strict regulatory oversight, high capital requirements, and significant technological barriers [9][10][11] - The number of plasma collection stations in China increased from 259 to 320 between 2018 and 2023, with a plasma collection volume exceeding 12,000 tons in 2023 [20] Development History - The industry has evolved through three stages: the initial discovery and commercialization phase (1959-1979), the introduction of recombinant products (1980-2015), and the current phase of mature applications and market expansion (2016-present) [12][14][15] Industry Chain Analysis - The upstream of the industry includes plasma collection stations and suppliers of biomanufacturing equipment, while the midstream consists of manufacturers of coagulation factor VIII, and the downstream includes medical institutions and hemophilia patients [16][19] Market Demand - The average annual cost for hemophilia treatment is approximately 229,000 CNY, with out-of-pocket expenses remaining high even after insurance reimbursement [18] - The per capita consumption of coagulation factors in China is significantly lower than in developed countries, indicating substantial market growth potential [30] Competitive Landscape - The market is highly concentrated, with the top five companies accounting for over 70% of the market share [41] - The competition is intensifying as domestic recombinant factor VIII products are gradually being approved, increasing market accessibility [42][44]
人凝血因子Ⅷ：中国本土血浆采集质量齐升，为凝血因子制剂生产创新发力打下基础 头豹词条报告系列
Tou Bao Yan Jiu Yuan·2024-09-29 12:00