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| The gross profit rate of ultrasonic equipment increases the import share drop! |
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| Author：中国铭铉 企划部 Release Time：2017-9-13 10:55:48 Number Browse：881 |
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On September 13, the medical network, with the introduction of new high-end equipment with domestic ultrasonic taps, has been regarded as the "restricted zone" of the tertiary hospital channel gradually breaking the ice.
In the first half of the year, the company issued a semi-annual report for the first half of 2017. The company's operating income in January and June was 424 million yuan, up 64.05% from the previous year, and the net profit of the company was 73.65 million yuan, up 120.62% from the previous year.
In terms of medical treatment, it has been attributed to the high end of the high-end color S50 to market last year, and the high gross profit product is growing by more than 600%. Compared with low-end products, the gross profit margin of the S50 is 10% to 15%, and as the product continues to release and increase, the gross profit margin increased from 68.97% at the end of last year to 71.69%.
Opened the medical establishment in 2002, completed the stock reform at the end of 2014, and landed on the gem board on April 6, 2017. Its main business for the clinical research and development and manufacture of medical equipment, products covered by the ultrasonic diagnosis system, electronic endoscope system, in vitro diagnostic system, in the field of ultrasonic diagnosis, product covering almost all suitable for ultrasonic imaging diagnosis of the medical field.
Some medical institutions and brokerages believe that in addition to the ultra-high end market, the import substitution process of domestic ultrasound equipment will accelerate.
Gross profit margin
In recent years, with the continuous improvement of research and development, the gross profit rate of ultrasonic products has been further improved.
"The core technology of ultrasound is the performance of ultrasonic probe. In clinic, the ultrasonic probe is different in different scenes, and there are differences in the detection range, sensitivity and definition. According to the head of a hospital in wuhan, the head of the hospital of color superdiagnosis of a hospital is believed that the probe, whether to meet the clinical needs, is the difference between domestic and import brands.
According to the medical prospectus, the S50, which was developed and approved by the company, has basically achieved high definition in the definition of image, which can meet the requirement of more than 90% of the clinical departments. Because of its many kinds of probes. The single crystal probe basically meets the technological level of general electric, philips and Siemens.
Technological breakthroughs are at the margins. According to the public data, the gross profit rate of the medical ultrasound products was raised from 57.9% in 2012 to 65.0% in 2016, and after the S50 came out, the gross profit rate of the newspaper in 2017 rose to 69.2%.
The move by rival mindray medical is to move the production of Zonare, an overseas company that it acquired in 2013, to its headquarters in China, to reduce costs. The gross profit margin of the medical imaging products from 2014 to 2016 was 65.06%, 65.27% and 68.54% respectively.
In response to this, the research team of the tianfeng securities pharmaceutical industry said in the paper that the high-end products of the S50 and minrui dc-8 /R7 are the main battleground for the import substitution. Terminal market mainly includes the township hospitals, private hospitals and 3 armour hospital work "machine", etc., in this part of the customers' clinical demand, the machine price sensitivity is high, because of lower than the same import instrument price 20% to 30%, so the market widely endorsed.
The domestic brand market is huge
The future growth of domestic ultrasound equipment is still huge.
IHS calculates that the global market for diagnostic equipment for medical ultrasound in 2014 is about $6.2 billion, and is expected to reach $7.4 billion in 2019. China's growth rate is even faster. In 2014, the market of ultrasonic diagnostic equipment in China reached 6.9 billion yuan, which is expected to reach 9.1 billion yuan in 2019.
"Ultrasonic diagnostic equipment has been monopolized by foreign brands at first, and general, philips and Siemens have almost all the market share." The above colour to exceed, head of the doctor's office told reporter in the 21st century economy, since the first domestic available colour to exceed 2004, after more than ten years development, gradually from low-end to high-end market, domestic colour to exceed the "open, mindray domestic manufacturers have developed in recent years in the high-end products, squeezing imported brand market space, the current import brand market share has fallen to 70%".
As the two leading domestic ultrasound products, mindray and opening have experienced a steady growth in the past few years. Medical imaging products' revenue from 2014 to 2016 was 219987.41 million yuan, 223094.21 million yuan, 235433.93 million yuan, according to minrui medical prospectus. From 2012 to 2016, the average proportion of color products of medical treatment was 82.2 percent, with the main business revenue increasing from 484 million yuan in 2012 to 719 million yuan in 2016, and the annual compound growth rate was 10.4 percent.
A liter and a drop, the industry technical barriers to push down gradually, domestic brands will further increase market share.
"Since 2016, the growth of ultrasonic domestic taps has significantly exceeded the growth of imported brands and has exceeded the average growth of the industry." These days the wind securities research thought, with the execution control cost, domestic equipment with excellent imported brand share price gradually diverted, especially on walk quantity of equipment, has a great competitive advantage.
Differentiated competition
"On the one hand, China's ultrasonic market customers are hospitals and medical institutions. The unique hospital classification system results in uneven distribution of medical resources. On the other hand, there is still a big gap between the domestic color super manufacturers and the imported enterprises in the ultra-high-end color super market. The head of the above color ultrasound clinic said that under the combined effect of the two factors, the domestic color ultrasound and imported products formed a differentiated competitive pattern.
The director further explained that the tertiary hospital has a high income and sufficient medical expenses, thus becoming the main sales channel for imported ultrasonic products. And relatively cheap domestic ultrasonic instrument, import substitution object mainly high-grade hospitals and lower level hospital, and are more willing to purchase import intermediate levels hospital, because of its simple operation, more durable.
At present, there are still gaps between domestic equipment and imported high-end models, which are embodied in the depth optimization of algorithms, materials, clinical cognition and other details. "Imported high-end models can assist doctors to complete diagnosis and data analysis, some basic functions such as super high-end heart colour to exceed besides can finish 2 d imaging, can on the basis of the analysis of myocardial movement, heart infarction, status, function mechanism such as recession." The head of the above color ultrasound clinic said that the three hospitals need to undertake some research tasks, which often require more precision, so the imported high-end models are the first choice.
Days the wind securities research report that ultrasonic import substitution the irreversible trend in the field of medical apparatus and instruments, is only a matter of time length, it depends on the development of clinical medicine, understanding of demand and accumulation, form a complete set of equipment and the development of enterprises, industrial level and other factors. Future domestic brands will continue to take the import market, imported brand can only retain high end and specific ultrasonic testing market, meet the specific needs of scientific research and clinical doctor, and other market share is expected to be replaced by excellent domestic brands.
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