China Albumin Returns to Global Market Price
According to the latest research report of Global Market Monitor, the price of Chinese blood products has been greatly affected by the release of price controls. This is not the result of blindly chasing high profits by producers, but the normal performance of Chinese blood products returning to international market prices. Due to the gap between supply and demand, China's human albumin limit price is not an accurate market price data, and long-term lack of supply makes unconventional transactions frequent. The short-term price increase of human serum albumin is inevitable, and this price increase will also activate the Chinese blood products industry and promote the rapid development of the industry.
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Cost rigidity, high barriers after industry maturity
Albumin is the most abundant protein in human
plasma, and its ingredient is plasma as other blood products. The main clinical
application of albumin is to regulate osmotic pressure, for intensive care,
treatment of traumatic or hemorrhagic shock, severe burns and hypoproteinemia.
Compared with other pharmaceutical industries, albumin has its specialty. Because of the clear application of diseases, albumin is easier to be accepted by patients and their relatives. Therefore, the cost of promoting and advertising is low. Meanwhile, the preparation process and separation technology of human serum albumin have been perfected, and the cost of research and development of enterprises is relatively low.
Although sales and R&D expenses are low, the cost of human albumin is high due to manufacturing and management. Human blood albumin is made from plasma, which makes it much more expensive to collect, test, store and transport than other chemical pharmaceuticals. Moreover, the existence of the window period (usually 90 days) and the production time of 4 to 9 months require a lot of money for fine management.
Mature overseas market, 10 more years for China to catch up
The United States is the country with the largest amount of plasma collected, accounting for 66% of the world's amount. As many other industries, albumin industry is also highly concentrated. Under the oligopolistic pattern, CSL, Baxter and Grisfols account for more than 50% of the global market share.
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The Chinese human albumin market is still in its infancy, not only the supply of plasma, but also the efficiency of utilization is far behind. And Chinese market still need to import albumin to satisfy the need.
The annual amount of plasma being collected
in America is still increasing. Only in 2013, the amount reached 28800 tons,
which is nearly 5 times bigger than the amount collected in China during the
same period. However, Chinese population is more than 1.3 billion, more than 4
times the population of America.
Except for the amount, the United States has
a complete range of conventional blood products, and more than 20 kinds of
blood products with clinical significance. At present, Chinese enterprises can
only extract 11 kinds of blood products in plasma, of which human albumin
accounted for 56.9%. And this is much higher than the international proportion
of 26%. Therefore, the room for the improvement of albumin is small. In the
future, part of albumin market would be replaced by PH4.
At present, human albumin enterprises in China are divided into three echelons. The first echelon companies include ST Biochemistry, Tiantan Bio, Boya Bio, and Hualan Bio; the second echelon companies include: Bohui Innovation, Watson Bio, Shanghai Raas; The third echelon companies are: Renfu Medicine, Hansen Pharmaceutical, etc.
To expand albumin market, more plasma should be collected and more advertisements of albumin should be made to attract potential customers. Also, in China, technique should be developed to produce more types of blood products. With more plasma, which means more albumin, the industry upgrade would be able to accelerate.
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