Baiji Biosciences (Beijing) Biotechnology Co., Ltd. (hereinafter referred to as 'Baiji Biosciences') successfully went public on December 15, 2021, issuing a total of 115 million shares at an issue price of 192.60 yuan per share.
Baiji Shenzhou is global, commercial-stage biotech company focused on research, development, production, and commercialization of innovative drugs. The company practices the development strategy of 'rooted in China, looking globally', actively seizing the development opportunities brought about by China's medical regulatory reforms for the biopharmaceutical industry, establishing internal key capabilities, and gradually growing into a comprehensive global biotech company with early drug discovery, clinical research, large-scale high-quality drug production, and science-based commercialization capabilities. The company's key capabilities include independent research and development, global clinical development and operations, establishment of commercial platforms in China and the United States, the world's two largest pharmaceutical markets, as well as world-leading high-quality production capabilities. The company utilizes China's rich clinical resources to further advance the global development process of new drugs, reducing the cycle and cost of new drug development; by leveraging its extensive clinical development experience in China and globally, as well as the commercial platform established in China, it establishes cooperative research and development or licensing relationships with world-leading pharmaceutical and biotech companies, further enriching its internal pipeline of research products and potential commercial product portfolio, providing new momentum for the company's continuous growth, and thereby creating a unique new model of global growth. The company has a complete proprietary tumor biology R&D system and has established preclinical research departments including medicinal chemistry, discovery biology, biopharmaceuticals, and translational science, as well as various drug discovery technology platforms. The company has several independently developed drugs that have entered clinical trials or commercialization stages, among which three innovative tumor-targeting drug products have been approved for marketing, including BRUKINSA (Zanubrutinib Capsules), BeiGene (Tislelizumab Injection), and Panitumumab (Pamiparib Capsules). Frost & Sullivan has long been concerned about the global and Chinese biopharmaceutical industries, publishing a large number of research reports that are widely cited in the prospectuses of leading science and technology innovation board listed companies in the industry, helping customers accelerate their growth.
Overview of the Global Pharmaceutical Market
The total global pharmaceutical market in 2020 was $1,298.8 billion. With the intensification of global population aging due to declining fertility and increasing life expectancy, as well as the continuous growth in related healthcare expenditures, it is expected that the market scale of the global pharmaceutical industry will continue to grow steadily. It is projected to reach $1,711.4 billion by 2025, with a compound annual growth rate of 5.7%.
The global pharmaceutical market consists of two major sectors: chemical drugs and biologics. In terms of revenue composition, chemical drugs remain the most significant component of the global pharmaceutical market. In 2020, the global chemical drug market size reached $1,009 billion, accounting for 77.1% of the global pharmaceutical market. Compared to chemical drugs, the current market size of biologics is smaller, at $297 billion in 2020. However, driven by many factors such as growing demand, technological progress, expanding patient populations, and improved affordability, it is expected that the growth rate of the biologics market will exceed that of the overall pharmaceutical market. By 2025, the market size will reach $5301 billion, with a compound annual growth rate of 12.2%. By 2030, the market size will reach $8,049 billion, with a compound annual growth rate of 8.7%. In the future, the growth rate of the biologics market will be much higher than that of the chemical drugs market during the same period.
Global Pharmaceutical Market Size, 2016-2030E
Source: Frost & Sullivan report
Overview of the Chinese pharmaceutical market
The Chinese pharmaceutical market has maintained a growth rate exceeding that of the global pharmaceutical market. In 2020, the scale of the Chinese pharmaceutical market reached approximately RMB 1.448 trillion. It is expected that in the next five years, the Chinese pharmaceutical market will continue to grow at a compound annual rate of 9.6%, reaching RMB 2.2873 trillion by 2025 and RMB 2.9911 trillion by 2030.
China's pharmaceutical market size, 2016-2030E
Source: Frost & Sullivan report
Overview of the global anti-tumor drug market
The global anti-tumor drug market is booming, and the emergence of immunotherapy has further driven the growth of the market. The global anti-tumor drug market size reached $150.3 billion in 2020, and it is expected to reach $304.8 billion by 2025, with a compound annual growth rate of 15.2% from 2020 to 2025. By 2030, the anti-tumor drug market will further grow to $482.5 billion, with a compound annual growth rate of 9.6% from 2025 to 2030.
Global market size of anti-tumor drugs, 2016-2030E
Source: Frost & Sullivan report
Overview of the Anti-tumor Drug Market in China
In the Chinese pharmaceutical market, the sales of anti-tumor drugs have been showing a steady growth trend in recent years. In 2020, the market size reached RMB 1975 billion. The progress in cancer treatment methods has prompted the Chinese anti-tumor drug market to continue on an upward trajectory in the coming years. It is expected that the Chinese anti-tumor drug market will reach RMB 4162 billion by 2025, with a compound annual growth rate of 16.1% from 2020 to 2025, and reach RMB 6831 billion by 2030.
Market Size of Antitumor Drugs in China, 2016-2030E
Source: Frost & Sullivan report
Overview of the global PD-1/PD-L1 monoclonal antibody market
The global market size for PD-1/PD-L1 monoclonal antibodies has expanded rapidly over the past five years, reaching $286 billion in 2020. It is expected to reach $626 billion by 2025, with a compound annual growth rate of 17.0% from 2020 to 2025.
Global PD-1/PD-L1 monoclonal antibody market size, 2016 - 2030E
Source: Frost & Sullivan report
Overview of the Chinese PD-1/PD-L1 monoclonal antibody market
The market size of PD-1/PD-L1 monoclonal antibodies in China reached 137 billion yuan in 2020. With the approval of new products and indications, as well as enhanced accessibility through patient education, the Chinese PD-1/PD-L1 monoclonal antibody market has witnessed rapid growth and is expected to reach 519 billion yuan by 2025, with a compound annual growth rate of 30.5% from 2020 to 2025.
Market size of China's PD-1/PD-L1 monoclonal antibody products, 2018-2030E
Source: Frost & Sullivan report
Global BTK inhibitor market overview
Globally, the BTK inhibitor market has grown rapidly, reaching $7.2 billion in 2020. It is expected that this market will continue to expand in the future, with a market size reaching $20 billion by 2025 at a compound annual growth rate of 22.7%, and continue to grow at a compound annual rate of 5.5% to reach $26.1 billion by 2030.
Global BTK inhibitor market size, 2016-2030E
Source: Frost & Sullivan report
Overview of China's BTK inhibitor market
Since the first BTK inhibitor was approved in China in 2017, the Chinese BTK inhibitor market has grown rapidly, reaching RMB 1.3 billion in 2020, and is expected to grow at a compound annual growth rate of 58.6% to reach RMB 131 billion by 2025. It is estimated that by 2030, the market will expand to RMB 225 billion, with a compound annual growth rate of 11.5% starting from 2025.
Market size of BTK inhibitors in China, 2017-2030E
Source: Frost & Sullivan report
Global PARP inhibitor market overview
Globally, the PARP inhibitor market has grown rapidly, reaching $2.4 billion in 2020. It is expected that this market will continue to expand in the future, with a market size reaching $12.3 billion by 2025 at a compound annual growth rate of 38.3%, and continue to expand at a compound annual growth rate of 6.3% to reach $16.7 billion by 2030.
Global PARP inhibitor market size, 2015 - 2030E
Source: Frost & Sullivan report
Overview of the Chinese PARP inhibitor market
Since the first PARP inhibitor was approved in China in 2018, the market for PARP inhibitors in China has grown rapidly, reaching RMB 1.4 billion in 2020 and is expected to grow to about RMB 147 billion by 2025 at a compound annual growth rate of 60.3%. It is projected that by 2030, this market will grow to about RMB 225 billion, with a compound annual growth rate of 8.9% from 2025 onwards.
Market size of PARP inhibitors in China, 2018-2030E
Source: Frost & Sullivan report
Frost & Sullivan, integrating 60 years of global consulting experience, has dedicated 23 years to serving the booming Chinese market with a global perspective, helping clients accelerate their corporate growth and achieve benchmark positions in industry growth, innovation, and leadership. The healthcare industry is one of the core areas of focus for Frost & Sullivan. Over the past sixteen years, the Frost & Sullivan healthcare team has provided financing and financial advisory services, IPO industry advice, strategic consulting, management consulting, and other services to hundreds of outstanding domestic and international biopharmaceuticals, medical devices, healthcare services, and internet healthcare companies. Successful listings include: Yonghe Medical (2279.HK), Kailaiying (6821.HK), Beihai Kangcheng (1228.HK), Gushengtang (2273.HK), Yingtong Technology (2251.HK), Clover Biotech (2197.HK), Minimally Invasive Robotics (2252.HK), Huiyuan Kaiman (2256.HK), Kunbo Medical (2216.HK), Xianruida (6669.HK), Kangsheng Global (9960.HK), Yimaitong (2192.HK), Tengsheng Bopharm (2137.HK), CanSino (2162.HK), Chaoyu Ophthalmology (2219.HK), Guichuang Tongqiao (2190.HK), Huihuang Medicine (0013.HK), Kexi Pharmaceutical (2171.HK), Zhaoke Ophthalmology (6622.HK), Nature Medicine (UPC.NASDAQ), Saiseng Pharmaceutical (6600.HK), Zhaoyan New Drugs (6127.HK), Novogene Health (6606.HK), Tianyan Pharmaceutical (ADAG.NASDAQ), Beikang Medical (2170.HK), Jianbimiao Miao (2161.HK), Minimally Invasive Heart Tonic (2160.HK), RuiLi Medical Beauty (2135.HK), Jiake Pharmaceutical (1167.HK), HepB Biopharmaceuticals (2142.HK), JD Health (6618.HK), Deqi Pharmaceutical (6996.HK), Rongchang Biotech (9995.HK), WuXi AppTec (2126.HK), Simcere Pharmaceutical (2096.HK), Yunding New Energy (1952.HK), Jiahe Biotech (6998.HK), Zai Ding Pharmaceutical (9688.HK), Ocular Care Biologics (1477.HK), Yongtai Biotech (6978.HK), Hapu Biopharmaceuticals (9989.HK), Pioneering Pharmaceutical (9939.HK), Peijia Medical (9996.HK), Kangfang Biotech (9926.HK), Novogene Health (9969.HK), Tianjing Biotech (IMAB.NASDAQ), Kanglong Chemical (3759.HK), China Antibody (3681.HK), Dongyao Pharmaceutical (1875.HK), Yasheng Pharmaceutical (6855.HK), Fuhong Hanlin (2696.HK), Hansoh Pharmaceutical (3692.HK), Mabtech Pharmaceutical (2181.HK), Fangda Holdings (1521.HK), Via Biotech (1873.HK), Cornerstone Pharmaceuticals (2616.HK), Junshi Biosciences (1877.HK), WuXi AppTec (2359.HK), Innovent Biologics (1801.HK), Hailun Medicine (2552.HK), BeiGene (6160.HK), Gilead Sciences (1672.HK), WuXi AppTec (2269.HK), China Resources Pharmaceutical (3320.HK), Jacobus Pharmaceuticals (2633.HK), Huihuang China Medicine (HCM.NASDAQ), Biotechnology (1548.HK), BBI Life Sciences (1035.HK), etc. In terms of the number of filings, the Frost & Sullivan healthcare team maintains an absolute leading position in Hong Kong's healthcare IPO market, continuously occupying more than 90% of the market share from 2018 to 2020.
Since the listing of the first batch of companies on the Sci-tech Innovation Board in July 2019, Frost & Sullivan reports have been widely cited in the prospectuses of leading Sci-tech Innovation Board listed companies, including: Harvestime Biotech (688246.SH), Dizhe Medicine (688192.SH), Novogene (688105.SH), Chengda Biology (688739.SH), Geke Microelectronics (688728.SH), Huaxi Biotech (688363.SH), Junshi Biosciences (688180.SH), Zhejiang Genomics & Biotechnology Co., Ltd. (688266.SH), BeiGene (688177.SH), Shenzhou Cells (688520.SH), etc. It is considered one of the most powerful, professional, and influential industry research institutions in the sector. We hope to work together with enterprises to understand industry trends, seize development opportunities, jointly promote innovation and upgrading of China's big health industry, and build a healthy future.
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