Pharmaceutical Equipment - Continued prosperous development, biologics market expansion brings important drivers

China's pharmaceutical equipment industry to continue the prosperous development of the rapid growth of the market size. According to the National Bureau of Statistics, the size of China's pharmaceutical equipment market size in 2020 is about 20 billion RMB. According to the financial data of several core companies in the market in the first three quarters of 2021, we expect that the market size of China's pharmaceutical equipment in 2021 may reach more than 25 billion RMB, a year-on-year growth of 25% +. Among them, the fastest growing is the bioengineering segment, we expect this segment market size may reach 6~8 billion RMB.

The rapid development of the biologics market has brought significant incremental growth to the pharmaceutical equipment market. According to Frost & Sullivan, China's biologics market is expected to reach RMB 1.3 trillion by 2030, with a CAGR of about 13% from 2020 to 2030. With the rapid development of China's biopharmaceutical and other sub-sectors, pharmaceutical companies will accelerate the expansion of production in order to enhance market competitiveness, which will become an important driving force for the development of the pharmaceutical equipment market.