Simplified Chinese
Rising public demand for health is driving robust growth in the vaccine industry.
Release date:
2017-12-26
Author:
Article/Excerpt from Sohu
Source:
Abstract
As the nation’s emphasis on preventing and controlling infectious diseases continues to grow, the sector has benefited significantly from supportive government policies. With the strengthening of fiscal capacity, the number of vaccines included in the National Immunization Program has expanded several times, now covering 15 infectious disease targets. Meanwhile, rising public demand for better health has strongly fueled the rapid growth of the vaccine industry.
Overview of the Development of China’s Vaccine Market
According to the Measures for the Administration of Batch Release of Biological Products, vaccines must first undergo quality inspection by the National Institute for Food and Drug Control and obtain batch release approval before they can be marketed and sold. Batch‑release data constitute the sole macro‑level indicator for China’s vaccine industry, reflecting domestic vaccine manufacturers’ production capacity rather than their actual sales volume. Based on statistics from the NIFDC, batch‑release volumes in the domestic vaccine market have been gradually declining in recent years; moreover, following the Shandong vaccine incident, total batch‑release volume in 2016 fell to just 547 million doses/vials/units.
In the short term, willingness to receive Class II vaccines has declined, but this does not reflect a reduction in public demand for health services; per capita healthcare spending continues to rise year after year, both in urban and rural areas. To date, vaccination rates for Class II vaccines at the retail level have shown some improvement. Once the implementing rules of the revised Regulations on Vaccine Distribution and Immunization are issued and industry rectification is completed, restoring public confidence in the oversight of Class II vaccines, the vaccine market will continue to enjoy long-term growth momentum and potential.
According to data from the “In-depth Research and Investment Analysis Report on the Vaccine Industry” published by the Qianzhan Industry Research Institute, China’s domestic vaccine market reached RMB 15.5 billion in 2016, yet accounted for only 0.5% of the total pharmaceutical industry value—far below the global average of 2.5%. This highlights significant room for future growth in China’s vaccine sector. Forecasts project that the domestic vaccine market will maintain a compound annual growth rate of over 8% through 2017, with the market size expected to reach RMB 20 billion by that year.
Statistics on the output value of the domestic vaccine market
Analysis of Vaccine Demand Prospects
Overall, it is expected that in the coming years, the market for Class I vaccines in China will have limited expansion potential, with its growth rate declining to 5% or even lower. By contrast, the Class II vaccine market is experiencing robust growth: from 2007 to 2010, its compound annual growth rate reached 15.63%, and by 2010, the market size had surpassed RMB 10 billion. In 2015, the Class II vaccine market was valued at approximately RMB 18.5 billion, with a growth rate of around 9%.
However, in reality, vaccination rates for Class II vaccines remain low nationwide. Taking the influenza vaccine as an example, the coverage among susceptible populations in China is less than 2%, whereas in developed countries in Europe and North America, vaccination rates typically range from 20% to 30%, with Canada even reaching 45%. Similarly, uptake of other childhood vaccines—such as the Haemophilus influenzae type b (Hib) vaccine, the varicella vaccine, and the rotavirus vaccine—is also relatively low, leaving considerable room for improvement.
The “In-depth Research and Investment Analysis Report on the Vaccine Industry,” published by the Forward-looking Industry Research Institute, comprehensively examines the overall development of the vaccine market from multiple perspectives—including market overview, industrialization progress, regional development, policy analysis, and key enterprises—and, on this basis, assesses the investment potential of vaccine projects.
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