Medicinal glass is one of the widely used medicinal packaging materials in China. It can be divided into soda lime glass and borosilicate glass. Borosilicate glass is further divided into low borosilicate, medium borosilicate, and high borosilicate glass. According to the "China Pharmaceutical Glass Packaging In-depth Investigation and Investment Strategy Report (2019 Edition)", currently domestic medicinal glass products are still dominated by low-borosilicate glass and soda-lime glass.
It is understood that low borosilicate glass is called "semi-neutral borosilicate medical glass", which has low chemical stability. When it contains drugs with a high pH value, alkaline substances in the glass are easily precipitated, which affects the quality of drugs. Most countries are no longer using it.
However, in China, most of the medicinal glass is still low borosilicate glass. The total amount of medicinal glass in the whole year is about 300,000 tons, of which the medium borosilicate use data in 2018 is about 22,000 tons. 23,000 tons, according to the proportion, only about 7% to 8%.
As the pharmaceutical packaging industry upstream of the pharmaceutical industry industry chain, the market size has maintained a high compound growth rate over the past five years. The Asia-Pacific market, which is mainly driven by China, has overtaken Europe and approached North America in size. However, behind the rapid growth, China's pharmaceutical packaging industry is large but not strong, and the overall added value of the industry is not high. Generally, enterprises are small in scale, low in technology, single in product structure, and in terms of personnel, equipment and management. Large gaps remain.
There is an industry analysis of why China does not produce high-quality and high-qualification medium boron glass tubes. For a long time, high costs have hindered the popularization of neutral pharmaceutical glass in China. In addition, the production stability of medium boron glass tubes is difficult to control. Also hindered the development of neutral medicinal glass to a certain extent.
But medicine is a special kind of commodity, which is directly related to consumers' physical health and life safety. Pharmaceutical packaging materials can directly contact medicines. The quality of medicine packaging materials will affect the safety of medicines, the stability of medicine properties and the sale of medicines. It is important to speed up China's upgrade from low-borosilicate glass to medium-borosilicate glass.
According to the industry, combined with the current Chinese policy and the concept of healthy China, medical packaging is constantly being upgraded, which will vigorously promote the upgrade of low-borosilicate glass to medium-borosilicate glass. According to industry forecasts, in the next 5 to 10 years, 30% -40% of China's 300,000 tons of medicinal glass will be upgraded from low-borosilicate glass to medium-borosilicate glass.
From the perspective of policy implementation, the implementation of important industry policies such as "injection consistency evaluation" and "associated review" will affect the future pattern. The upgrade from low boron to medium boron is still an irreversible trend. "In recent years, China is accelerating policies such as consistency evaluation and related review and approval, which will effectively promote pharmaceutical packaging materials to follow the generic drugs to achieve product upgrades, and the neutral medicinal glass replacement process is expected to accelerate."
Taking Shandong Medicine Glass as an example, a research report points out that it is a domestic leader in medicinal glass, benefiting from the increased market share brought by strict drug safety supervision, continuous upgrading of product upgrade revenue structure, and steady revenue growth; scale and cost Significant advantages, continued to tap the potential, profitability has steadily increased, and performance has grown steadily.
After reviewing its operating results of Shandong Medicine Glass in the past five years, we can see that Shandong Medicine Glass's performance has shown a steady growth trend. From 2014 to 2018, its operating income was 1.691 billion yuan, 1.723 billion yuan, 2.057 billion yuan, 2.330 billion yuan, and 2.585 billion yuan, with year-on-year growth rates of 9.49%, 1.90%, 19.40%, 13.27%, and 10.91%, respectively. ; Net profit attributable to mothers was 125 million yuan, 145 million yuan, 190 million yuan, 263 million yuan, and 358 million yuan, respectively, with year-on-year growth rates of 1.94%, 16.60%, 30.40%, 38.58%, and 36.33%.
It is understood that the current domestic pharmaceutical glass market size is nearly 10 billion yuan, with an average annual growth rate of more than 10%. At present, there are more than 60 pharmaceutical glass production enterprises, mainly distributed in southwest, east, north and other regions. The major domestic medicinal glass products (moulded bottles, control bottles, ampoules) require about 80 billion pieces a year, of which about 15 billion pieces are required for molded bottles and control bottles, and nearly 40 billion pieces are required for ampoules.