What is the current situation of the domestic growth hormone market? What proportion does long-acting growth hormone account for in the growth hormone market? Apart from the long-acting growth hormone already on the market by Jinse, what are the long-acting growth hormones in clinical trials in China? How is the market competitive? Compared with short-acting growth hormones, what are the advantages and disadvantages of long-acting growth hormones? In terms of research and development, what are the difficulties in developing long-acting growth hormones? For growth hormone companies, what are the core barriers to product commercialization? In terms of commercialization, what difficulties do long-acting growth hormones face in competing with short-acting growth hormone products? Currently, there is a significant difference in the annual costs for injections, aqueous injections, and long-acting growth hormones among patients (consumers). Does the cost affect their choice? Besides cost, what other factors can influence patient choice?
Frost & SullivanFrost & SullivanLiang Yanyu, consulting manager of the Healthcare Business Unit at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by 'Hexun Finance' to discuss the long-acting growth hormone market.
Hexun Finance
Q
What is the current market situation of growth hormone in China? What proportion does long-acting growth hormone account for in the growth hormone market?
At present, the growth hormone market maintains a growth trend.2021Annual achievement109The scale is in the hundreds of millions of yuan. Moreover, it is expected that with the increased supply of long-acting growth hormone and the continuous improvement in the penetration rate of growth hormone among patients, this market will continue to grow.2021In [year], the proportion of long-acting growth hormone based on sales was approximately14.9%.
Q
Apart from the already marketed long-acting growth hormone by Jinse, what are the other long-acting growth hormones in clinical trials domestically? How is the market competitive?
And Weisheng Pharmaceutical/AscendisProducts such as Tianjing, Novogene, Anhui Kangfu Biotechnology Co., Ltd., Yifan Biotech Group Co., Ltd., Xiamen Tebao Biotechnology Co., Ltd., Younoujin Biotech Co., Ltd., and Qianhong Pharmaceutical Co., Ltd. are available, but each company has its own technical platform with differences. There are certain barriers to the development of long-acting technologies, so there are currently relatively limited competitors.
Q
What are the advantages and disadvantages of long-acting growth hormone compared to short-acting growth hormone?
The greatest advantage of long-acting growth hormone for patients lies in its ability to significantly reduce the occurrence of missed injections, alleviate the pain of daily injections, improve patient compliance, and thus help patients achieve more ideal results. Secondly, some studies have shown that long-acting growth hormone has a better growth-promoting effect. Currently, it seems that the safety of long-acting growth hormone is similar to that of short-acting growth hormone, with no particular side effects. If there are any disadvantages, they may mainly be related to the slightly higher price, which places a slightly heavier economic burden on patients.
Q
In terms of research and development, what are the challenges in developing long-acting growth hormone?
The key lies in how long-acting technology ensures effectiveness and safety. In terms of effectiveness, if it is used alonePEGConnection may be affected by steric hindrance, which limits the binding of growth hormone to receptors and thus affects the efficacy. In terms of safety, some long-acting products, such as a previously launched sustained-release microsphere long-acting growth hormone product, were withdrawn from the market due to significant side effects.
Q
For growth hormone companies, what are the core barriers to product commercialization?
Growth hormone is an industry with still low permeability, and there are many patients with short stature who have not received adequate treatment. Therefore, there is significant room for development. For these untreated patients, a large portion are unaware that short stature is a treatable disease and its medication options, and even many doctors in remote areas are not familiar with the diagnosis and treatment of this type of disease. For growth hormone companies, therefore, doing a good job in educating doctors and patients is of utmost importance, which to a certain extent determines whether their products can further penetrate the grassroots market. Secondly, currently companies such as Jin Sai, Anke, and United Sair have established a first-mover advantage in the markets they have already explored. How to enter the market, build product brands, and establish differentiated competitive advantages in the market are also full of challenges.
Q
In terms of commercialization, what difficulties does long-acting growth hormone face in competing with short-acting growth hormone products?
The clinical application of long-acting growth hormone has been relatively short-lived, and some doctors and patients still have some doubts about it. More academic and popular science information is needed to be disseminated. At the same time, the price of long-acting growth hormone is relatively high, which will limit the use of this drug to some extent.
Q
Currently, there is a significant difference in the annual costs for short-acting growth hormone injections (in powder form), aqueous injections, and long-acting growth hormone. For patients (consumers), will cost affect their choice? Besides cost, what other influencing factors could impact patient selection?
Cost is an influencing factor, but not the only one. Currently, both short-acting intravenous and sublingual injections are mainstream in the market. The advantage of sublingual injections is that the annual cost is only about half that of intravenous injections.1/3However, freeze-drying can affect the spatial structure of peptide chains, impact protein activity, and lead to antibody production. In contrast, the protein structure in aqueous solutions is more natural. Moreover, powder requires patients to dissolve it and use it evenly by themselves, which is prone to contamination and lacks the convenience and ease of operation of water injections. The price of long-acting drugs is much higher than that of short-acting ones, but the convenience of only needing one injection a week is very attractive to patients. This greatly facilitates daily travel for patients, avoids needle misses, and can also reduce the pain of injections. Therefore, in summary, the main influencing factors include convenience of use, safety, and efficacy.
*This interview is published in "Hexun Finance & Economics".APPReporter for Qiu Zhenxiang Original title is "The IPO listingobserve|The independent R&D capability of Weisheng Pharmaceutical may need verification. The core product market is highly competitive. >> (Click "Read Full Article" at the end of the text to read the complete report).
