国信证券:小核酸CXO行业景气度持续攀升 迈入临床兑现与商业化加速阶段

智通财经
Feb 02

智通财经APP获悉,国信证券发布研报称,小核酸CXO作为小核酸药物产业的核心支撑,受益于技术突破与商业化加速,行业景气度持续攀升。小核酸CXO行业同步进入发展快车道,形成“研发服务-中试放大-商业化生产”的CRDMO全链条服务体系。重点关注两类布局小核酸领域的CXO企业:具备化学修饰、递送技术、偶联技术等核心技术及具备丰富小核酸项目经验的CRO企业;以及前瞻布局,具备领先生产能力的CDMO企业。

报告中称,小核酸药物正迎来全球范围内的蓬勃发展期,已从技术验证阶段迈入临床兑现与商业化加速阶段。全球层面,2019-2023年,全球小核酸市场规模从27亿美元增长至46亿美元(CAGR为14.25%);预计2033年市场规模将攀升至457亿美元(CAGR高达26.08%)。全球累计获批上市药物已达23款,覆盖siRNA、ASO、适配体等多个技术方向。国内虽暂未实现产品上市,但研发管线数量仅次于美国,覆盖高脂血症、高血压、乙肝、肾病、肌肉疾病、肥胖等多个治疗领域,且涌现出舶望制药与Novartis超90亿美元累计合作、瑞博生物与Boehringer Ingelheim20亿美元平台授权等重磅出海交易,中生制药等传统药企也通过收购快速卡位,行业呈现出积极发展的态势。

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