Listing Success | Frost & Sullivan Congratulates Zhuhai Tianuomaibo Pharmaceutical Co., Ltd. on Successfully Listing on the Innovation Market (688806.SH)

Driven by factors such as accelerating global population aging and increasing social healthcare expenditures, the global pharmaceutical market has maintained stable growth in the past. In 2024, the global pharmaceutical market size was 1.65 trillion US dollars, and it is expected to grow to 2.00 trillion US dollars by 2028 at a compound annual growth rate of 4.98%. The global pharmaceutical market consists of two main segments: chemical drugs and biopharmaceuticals. Based on revenue structure ratios, chemical drugs are the primary component of the global pharmaceutical market.

In 2024, the global biopharmaceutical market size reached 487.5 billion US dollars. Driven by factors such as growing pharmaceutical demand, advancements in biochemical science and technology, discovery of new targets, and continuous growth in the market size of biologic targeted drugs, the global biopharmaceutical market size is expected to grow at a compound annual growth rate of 10.00% to 713.7 billion US dollars by 2028, and further at a compound annual growth rate of 6.86% to 930.8 billion US dollars by 2032.

Global Pharmaceutical Market Size (2018-2032E)

The Chinese monoclonal antibody drug market is still in its early stages. Many overseas listed monoclonal antibodies have not been approved in China. Additionally, due to high prices, monoclonal antibodies are less accessible to many patients with limited financial capabilities. However, thanks to their significant advantages over traditional drugs, the Chinese monoclonal antibody market size grew from 16 billion yuan in 2018 at a compound annual growth rate of 42.05% to 131.5 billion yuan in 2024.

As biomedical technology advances in China, the indications for monoclonal antibodies in disease prevention and treatment will expand, and the introduction of innovative monoclonal antibodies will benefit more patients. Moreover, updates to the national medical insurance catalog and increases in per capita disposable income will further improve the market penetration of monoclonal antibodies. It is expected that from 2024 to 2028, the Chinese monoclonal antibody drug market size will grow at a compound annual growth rate of 20.17% to 272.42 billion yuan, and further at a compound annual growth rate of 11.39% to 422.20 billion yuan by 2032.

China’s Monoclonal Antibody Drug Market Size (2018-2032E)

Source: Frost & Sullivan

Diagnosis, treatment, and prevention of infectious diseases are becoming priorities in health systems, and there is growing market demand and potential for drugs in related fields.China will continue to strengthen scientific research, technology development, and industrial transformation related to infectious diseases. The diagnosis, treatment, and prevention capabilities for infectious diseases will continue to improve. Meanwhile, with the improvement of economic levels among Chinese residents, increased public awareness, enhanced health consciousness, better standards of care at the grassroots level, and widespread education on common infectious diseases, the potential demand for drugs to prevent influenza, tetanus, rabies, respiratory syncytial virus infection, and dengue fever—common infectious diseases that pose serious threats to people’s lives—is also increasing. Therefore, there is ongoing market demand and potential for treatment and prevention drugs in the field of infectious diseases.

Clinical needs of key populations are highlighted, and drug development will focus on special groups.According to“14th Five-Year National Health Plan”Requirements and goals set in documents such as “14th Five-Year Pharmaceutical Industry Development Plan”, China’s drug development should focus on special groups such as children to ensure safe medication for these groups. (1) The aging trend in China increases the medical needs of the elderly. The drug treatment needs for common diseases among the elderly, such as cancer, infectious diseases, immune diseases, and cardiovascular and cerebrovascular diseases, must be fully met. Meeting the drug needs of the elderly will become one of the development directions of the innovative drug market. (2) Since children have unique characteristics at different developmental stages, the National Medical Products Administration Drug Evaluation Center has issued a series of policies, such as the “Technical Guidelines for Pediatric Population Drug Clinical Trials” and the “Technical Guidelines for Pediatric Medication Clinical Pharmacology Research”, to ensure safe and effective treatment for children and to update information on drug use for pediatric patients of different ages.

Continual improvement in medical insurance coverage enhances the penetration of biopharmaceuticals and unleashes their commercial potential in China.Emerging markets like China are expanding the coverage of biopharmaceuticals through increasing medical insurance patient coverage, thereby improving access to innovative biopharmaceuticals and addressing urgent medical needs. With continuous support for biopharmaceuticals in medical insurance payments and improved accessibility, the large unmet clinical needs in China will be addressed more quickly, promoting the prosperity of the biopharmaceutical industry. This will help biopharmaceuticals achieve a higher market penetration and play a more important role in the overall drug market. Additionally, as biopharmaceuticals are included in the medical insurance catalog, the market rule of "price for quantity" may bring more commercial benefits to those included in the medical insurance.

With good efficacy and safety, antibody drugs can meet unmet clinical needs in various indications.With continuous advancement in basic biopharmaceutical research and accumulated investment, antibody drugs produced using structural biology and gene engineering have overcome the challenges of large-scale production of antibodies from human plasma and the immunogenicity of animal-derived antibodies. Compared to traditional treatments such as chemotherapy, hormones, and immunosuppressants, innovative targeted antibody drugs also have potential for better efficacy and safety. Their clinical usage rate will continue to increase. In the exploration of alternative therapies for blood products, recombinant human coagulation factor VIII has achieved significant results, and innovative targeted antibody drugs also have great potential for replacing blood products. Additionally, the production of all-human antibodies is feasible, which can enhance the affinity of antibody drugs and ensure higher effectiveness at lower doses, while also reducing immunogenicity. Antibody drugs can meet unmet clinical needs in various indications, and their penetration in clinical treatment/prevention plans is expected to increase, offering huge market potential.