Core Insights - The flu activity in southern China is on the rise, with experts predicting an earlier flu season this year compared to previous years [1] - The market for flu vaccines is currently dominated by quadrivalent vaccines, while trivalent vaccines are nearly absent from the self-paid market, leading to a price war among vaccine providers [1][5] Vaccine Availability and Pricing - In Chengdu, several community health centers offer quadrivalent vaccines at a price of 118 yuan per dose, while a specific quadrivalent vaccine from Zhonghui Biological is priced at 349 yuan per dose [2] - The production strategy of vaccine manufacturers has shifted towards quadrivalent vaccines due to higher profit margins, resulting in a significant decrease in the availability of trivalent vaccines in the self-paid market [5][6] Market Dynamics - In 2023, the total number of flu vaccine batches approved for release was 288, with quadrivalent vaccines accounting for 163 batches and trivalent vaccines for 101 batches [7] - The quadrivalent vaccine has become the dominant product in the flu vaccine market, reflecting a trend of increasing consumer preference for vaccines perceived to offer better protection [8] Price Trends - The price of quadrivalent vaccines has dropped significantly, with some prices falling from three-digit to two-digit figures, impacting the profit margins of vaccine manufacturers [10] - For instance, the price of a trivalent vaccine was recorded at 5.5 yuan per dose, marking a new low in the public flu vaccine market [9] Industry Challenges - The flu vaccine market faces challenges such as low vaccination rates and fluctuations in demand, which can lead to "big years" and "small years" in terms of vaccine uptake [11] - The current flu strains circulating, particularly the H3N2 strain, may lead to lower immunity levels in the population, emphasizing the importance of vaccination [12]

Core Viewpoint - The article highlights the significant price drop of influenza vaccines in China, particularly in public procurement, with the price of the trivalent influenza vaccine reaching a new low of 5.5 yuan per dose, raising concerns about market dynamics and the sustainability of vaccine manufacturers [3][5]. Group 1: Vaccine Pricing and Procurement - The trivalent influenza vaccine from Shanghai Biological Products Research Institute won the bid at a price of 5.5 yuan per dose, while Hualan Biological's bid was 10 yuan per dose [3][5]. - The current bid prices for public flu vaccines are lower than the service fees charged in some regions, which range from 6 to 25 yuan per dose [3][5]. - The price of domestic trivalent influenza vaccines has been consistently decreasing in the public market since last year, with multiple instances of bids falling below 10 yuan per dose [5][7]. Group 2: Market Dynamics and Competition - The ongoing price war in the influenza vaccine market is attributed to the introduction of similar products and the need for companies to maintain or expand their market share [7][8]. - Companies are increasingly focusing on the public market due to rising government budgets for influenza vaccination, while facing competition from quadrivalent vaccines [7][8]. - The production and distribution timelines for influenza vaccines necessitate early market entry, leading to higher potential waste if companies fail to secure bids [8]. Group 3: Vaccine Types and Innovations - The current influenza vaccines in China are categorized into three types: split virus vaccines, subunit vaccines, and live attenuated vaccines, with split virus vaccines being the most prevalent [11]. - The first quadrivalent subunit influenza vaccine, Huierkangxin, has been included in the national health insurance list, priced between 326.5 and 359 yuan per dose [11][12]. - Innovative vaccine products are less affected by the price competition seen in traditional vaccines, indicating a potential market for differentiated products [11][12]. Group 4: Public Health and Vaccination Rates - Vaccination with influenza vaccines can significantly reduce related medical costs and improve public health outcomes, particularly for vulnerable populations [12]. - There has been a noted decline in vaccination rates for non-national immunization program vaccines, including influenza vaccines, with an average annual vaccination rate below 4% from 2020 to 2023 [13]. - Experts suggest that improving public awareness and encouraging differentiated competition among manufacturers are essential for increasing vaccination rates and moving beyond price wars [13].

Core Insights - The price of domestic trivalent influenza vaccines in the public market has significantly decreased, with recent bids showing prices as low as 5.5 yuan per dose, marking a new low in the public vaccine market [1][3][4] Pricing Trends - The price of trivalent influenza vaccines has dropped below 10 yuan per dose since last year, with multiple instances of price reductions in 2023 [1][3] - In September, the Beijing public resource trading platform announced that the Shanghai Biological Products Research Institute won a bid for trivalent influenza vaccines at 5.5 yuan per dose, while Hualan Biological's bid was 10 yuan per dose [1][4] - The price of vaccines in the public market may not cover production costs, leading to a price war among manufacturers aiming to maintain market share [4][5] Market Dynamics - The public health budget for influenza vaccinations has increased, prompting manufacturers to focus more on the public market amid competition from quadrivalent vaccines [4][5] - The production of influenza vaccines is time-sensitive, as they must be produced based on the WHO's annual strain recommendations, leading to potential waste if bids are unsuccessful [5] Vaccine Types and Innovations - The market includes various types of influenza vaccines, with the most common being split virus vaccines, while innovative products like quadrivalent subunit vaccines are less affected by price competition [8] - The first quadrivalent subunit influenza vaccine, Hui Er Kang Xin, has been listed in the national insurance directory with a price range of 326.5 to 359 yuan per dose [8] Vaccination Rates - The average vaccination rate for influenza vaccines in China has remained below 4% from 2020 to 2023, with higher rates among children (12%) and lower rates among the elderly (below 5%) [10]