According to Frost & SullivanFrost & SullivanAccording to the forecast of 'Frost & Sullivan' (hereinafter referred to as 'Frost & Sullivan'), by2030In [year], the global market size of self-administered immunotherapy drugs is expected to reach1,760billion US dollars2022-2030Annual Compound Annual Growth Rate3.6%Among them, the market scale of China's self-administered drugs2030The year is expected to reach nearly250billion US dollars, compared to2020Achieving a tenfold growth in annual revenue is an important source of incremental demand for global autoimmune drugs. The autoimmune drug market is the second-largest pharmaceutical market globally after oncology, but it has already entered a highly competitive phase compared to the oncology market. The autoimmune drug market still needs further development. What are the reasons why the domestic autoimmune market space was not yet opened up? What are the driving factors behind the rapid development of the domestic autoimmune market in the past two years?
Hao Shuai, Senior Consulting Manager at Frost & Sullivan's Life Sciences Practice in Greater China, was interviewed by 'Securities Daily' to discuss the current development status of the market for self-administered drugs.
Securities Daily
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Q: The autoimmune drug market is the second largest pharmaceutical market globally, after oncology. However, compared to the highly competitive oncology market, the autoimmune drug market still needs further development. What are the reasons why the domestic autoimmune market space has not yet opened up?
a)Insufficient market education: The education and promotion of the self-administered drug market in China are relatively insufficient. Many patients and doctors have limited knowledge and understanding of self-administered drugs, which limits further market expansion.
b)Medical insurance restrictions: Since self-administered drugs are usually more expensive, and China's medical insurance policy mainly supports drug types that have been on the market for a longer time and are clinically mature, this has led to some self-administered drugs, especially innovative ones, not being covered by medical insurance, limiting patients' choices.
c)Patient affordability: The price of self-immune drugs is relatively high, making it difficult for many patients to afford the cost of self-funded treatment. Therefore, the clinical demand for self-immune drugs is limited. In addition, since autoimmune diseases are usually not fatal, Chinese patients are mostly reluctant to invest a large amount of economic resources in treating diseases like cancer when they have limited financial capabilities and are sensitive to prices. As a result, this leads to interruptions in treatment and ineffective treatment for patients.
d)Supervision and Approval: The R&D and marketing approval process for self-medicating drugs, especially innovative ones, is lengthy, involving strict clinical trials and regulatory approvals. This increases the cost and cycle of drug development and has also led to a slowdown in drug market launch speed.
Q: Some pharmaceutical companies pointed out,2023In the year, the field of autoimmune diseases entered a period of rapid development.2024The year is expected to become the commercialization year for domestic self-administered immunotherapy products. What are the driving factors behind the rapid development of the domestic self-administered immunotherapy market in the past two years?
a)The sales of blockbuster drugs in the self-immune space are accelerating: Many blockbuster drugs developed by multinational companies have been approved in China and included in the national medical insurance; sales have increased while unit prices have decreased. For example, siltuximab2019year3In China, monthly has been approved for the treatment of moderate to severe plaque psoriasis, and2021year3Included in the national medical insurance monthly. Its domestic sales since2020year72.5Millions of dollars rose to2021year279.0One million US dollars and2022year601.4One million US dollars. In addition, dupilumab is available in2020year6Approved in November for the treatment of moderate to severe atopic dermatitis, and2021year1Included in the national medical insurance monthly. Its domestic sales since2020year13.7Millions of dollars rose to2021year87.4One million US dollars and2022year248.1One million US dollars. The rapid growth in sales of blockbuster drugs in the autoimmune field in China will continue to drive China into the first year of commercialization in the autoimmune disease space.
b)Technological innovation and treatment plan upgrades: Technological innovation in the field of self-immune drugs has continuously driven the development of new drugs, making treatment options for autoimmune diseases more diverse. As treatment plans for autoimmune diseases gradually shift from traditional anti-inflammatory drugs to biologics, the category of biologic drugs has also been continuously upgraded. For example, compared with the first-generation drugs that carry a higher risk of severe infectionsTNF-Alpha-blockers, targeting interleukins (for exampleIL-17andIL-23Several types of biological agents have shown better efficacy in certain indications, such as/Or safety, as biopharmaceutical manufacturers continue to advance extensive pre-marketing studies. In the future, more self-administered immunotherapy drugs will be approved in China, driving market scale growth.
c)Increased clinical demand: With the aging population and changes in lifestyle, the number of patients with autoimmune diseases is increasing year by year, and the treatment needs of patients are constantly rising. Autoimmune diseases are typical chronic conditions that require long-term or even lifelong medication. Patients have a stable long-term demand for drugs, hence the high clinical demand for autoimmune drugs and the huge potential of the drug market.
d)Policy Support: The Chinese government has been increasing its support for the pharmaceutical industry, including accelerating approval processes and simplifying registration procedures, providing favorable conditions for the research and development and market launch of self-administered drugs, and promoting the accelerated growth of China's self-administered drug market.
e)Market Opportunities and the Rise of Chinese Local Enterprises: The market for autoimmune diseases is huge, and compared to the crowded field of oncology where international and local pharmaceutical companies compete fiercely, the market competition is relatively less intense, providing development opportunities for new entrants. After recognizing the tremendous potential in this therapeutic area, Chinese local innovative pharmaceutical companies have begun continuous research and development on autoimmune disease drugs. Autoimmune drugs developed by local innovative pharmaceutical companies will have a greater pricing advantage, and domestic companies can make more use of their in-depth understanding and extensive coverage of local patients and hospitals to propose more targeted market promotion strategies alongside multinational companies, improving patients' educational level and enhancing their awareness of autoimmune diseases and drug treatment.
*This interview has been published in 'Securities Daily', with reporter Sun Wenqing, and the original title was: JugEM's autoimmune disease drug market The enthusiasm of domestic pharmaceutical companies for research and development has been reignited ">
