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1、2January2018HealthCareDeutscheBankChinaHealthcareMarketsResearchAsiaIndustryDateChina2January2018HongKongChinaHealthcareHealthCareFITTResearchHealthCareThrombosistherapeuticsinChinaJackHu,Ph.D.ResearchAnalyst+852-22036208MeganXuResearchAssociate+852-22035928AnattractiveCVDmark
2、etsegmentdrivenbyunmetmedicalneedsWithRMB44bnmarketsizein2017,thethrombosismarketenjoyedaCAGR13-17of13%vs.11%fortheCVDmarket,and9%fortheentiredrugmarket.Drivenbyincreasingincidences,recentNRDLinclusionofkeythrombosisdrugs,aswellasunmetmedicalneeds,thethrombosismarketislikelyto
3、growat10%CAGR17-22vs.5%fortheentiredrugmarket,reachingRMB72bnin2022byDBe.Webelievedomesticbellwethers,suchasSinoBiopharmandCSPC,arewellpositionedtocapturethegrowthwithanabundantpipelineofantiplateletsandanticoagulantgenerics.F.I.T.T.forinvestorsDeutscheBankAG/HongKongDeutscheB
4、ankdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Thus,investorsshouldbeDistributedon:02/01/201814:12:13GMTawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvest
5、mentdecision.DISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MCI(P)083/04/2017.THECONTENTMAYNOTBEDISTRIBUTEDINTHEPEOPLE'SREPUBLICOFCHINA(“THEPRC”)(EXCEPTINCOMPLIANCEWITHTHEAPPLICABLELAWSANDREGULATIONSOFPRC),EXCLUDINGSPECIALADMINISTRATIVEREGIONSOFHONGKONGANDMACAU.7T2se
6、3r0Ot6kwoPaChinaHealthcareDeutscheBankMarketsResearchAsiaIndustryDateChina2January2018HongKongChinaHealthcareHealthCareFITTResearchHealthCareThrombosistherapeuticsinChinaJackHu,Ph.D.F.I.T.T.forinvestorsResearchAnalyst+852-22036208AnattractiveCVDmarketsegmentdrivenbyunmetmedica
7、lneedsWithRMB44bnmarketsizein2017,thethrombosismarketenjoyedaCAGR13-17MeganXuof13%vs.11%fortheCVDmarket,and9%fortheentiredrugmarket.DrivenResearchAssociatebyincreasingincidences,recentNRDLinclusionofkeydrugs,aswellasunmet+852-22035928medicalneeds,thethrombosismarketislikelytog
8、rowat10%CAGR17-22vs.5%fortheentiredrugmarket,reachingRMB72bni