"One in 15 people is infertile." "The first share of assisted reproduction", the amazing words of Jinxin reproduction in the past, are gaining the attention of local medical insurance.
On February 21, the Beijing Municipal Medical Insurance Bureau, the health commission and the Ministry of human resources and Social Security jointly issued the notice on regulating and adjusting the price of some medical services, which included 16 assisted reproductive technologies such as artificial insemination and embryo transfer into Beijing medical insurance.
Beijing has become the first provincial unit in China to incorporate assisted reproductive technology into medical insurance.
It is reported that the price of 63 medical services carried out by public medical institutions has been standardized and adjusted this time, including the unified pricing of 53 assisted reproductive technology projects such as in vitro fertilization and embryo culture, which basically covers the common technologies used by public medical institutions in Beijing to carry out assisted reproductive technology. among them, 16 auxiliary reproductive technology projects involving a wide population, necessary diagnosis and treatment, mature technology, safe and reliable, such as intrauterine artificial insemination, embryo transfer and sperm optimal treatment, which are common in outpatient treatment, will be included in the category a reimbursement scope of medical insurance.
This new policy will be implemented on March 26, which is applicable to public medical institutions in Beijing and non-public medical insurance designated medical institutions.
As soon as the news came out, the assisted reproduction sector rose as a whole on the same day. Among them, Dajia Weikang, Honz Pharmaceutical Co.Ltd(300086) , Hanshang Group Co.Ltd(600774) , Suzhou Medicalsystem Technology Co.Ltd(603990) , Shandong Xinhua Pharmaceutical Company Limited(000756) and other stocks rose by the limit.
Some industry insiders told reporters that due to the rise of the average age of first childbirth, unhealthy lifestyle, increased work pressure, environmental deterioration and other factors, China's infertility rate continues to rise.
At present, the listed companies in the assisted reproductive sector cover infertility treatment, assisted reproductive gene technology, assisted reproductive medical services, progesterone drugs and other businesses.
In terms of ovulation induction related drugs, although 60% rely on foreign imports, China's technology is also relatively mature. For example, Livzon Pharmaceutical Group Inc(000513) accounts for 20% of the market. In addition, Zhejiang Xianju Pharmaceutical Co.Ltd(002332) and Changchun High And New Technology Industries (Group) Inc(000661) Kinsey pharmaceutical have layout.
In terms of PGT (genetic test before in vitro embryo implantation), Beikang medical, Bgi Genomics Co.Ltd(300676) and other companies are in the stage of rapid development.
Other high-value consumables of some instruments, such as culture fluid and seminiferous catheter, are highly monopolized by overseas giants, with an import rate of 95%. Domestic head enterprises include Weituo biology, Weigao Ruisheng, Heyun medical, huanhao technology, Pinzhi medical, etc.
The medical institutions downstream of the assisted reproductive industry are still scarce resources. It is reported that due to strict policy control and scarce licenses, China's assisted reproductive market is basically controlled by state-owned hospitals and multinational pharmaceutical enterprises, and the industry concentration is high.
According to the prospectus of Jinxin reproduction, at present, the competition pattern of China's assisted reproduction industry is scattered, and public hospitals still dominate.
After the implementation of the "three child policy", local health, medical insurance and other departments have actively implemented it. On September 15, 2021, in response to the suggestions of the deputies to the National People's Congress, the National Medical Insurance Bureau said that it would guide all localities to gradually incorporate the therapeutic assisted reproductive technology with mature technology, safety and reliability and controllable cost that can be borne by the medical insurance into the medical insurance based on the positioning of "basic protection".
According to The Pacific Securities Co.Ltd(601099) Securities Research Report, the cost of artificial insemination in China is generally 5000 yuan / cycle, while the cost of IVF technology is generally 25000-40000 yuan / cycle.
Industry insiders believe that this time, Beijing took the lead in exploring the inclusion of some assisted reproduction projects into the scope of medical insurance reimbursement from the local level, which can improve the market penetration of assisted reproduction. Whether there will be more follow-up remains to be seen.
