Flu vaccines are selling at rock-bottom prices: One shot costs only 5.5 yuan, less popular than a cup of snow ice from Mixue Bingcheng.

"Perspective" is a newly launched lightweight data graphic column by 36Kr - using data to analyze trends and pictures to present key points.

"Talk is Cheap. Show me the data."

Author: Huang Yida

This year, the winning bid price of the publicly - funded trivalent influenza vaccine in some provinces has dropped to as low as $5.5 per dose, hitting a new historical low. Industry insiders point out that this phenomenon reflects that the vaccine industry as a whole has entered a "price - cut cycle".

Graphic by 36Kr

Behind the price decline, on the one hand, the number of the main vaccination population (children aged 0 - 9) has decreased, leading to a weakening of market demand; on the other hand, there is a crowding of me - too products, intensifying homogeneous competition. The nine - valent HPV vaccine is a typical example.

Graphic by 36Kr

The combination of weak demand and falling prices has continuously pressured the profitability of enterprises. Data shows that the average net profit margin of seven leading vaccine companies has decreased by about 46 percentage points, and three of them have reported losses.

Graphic by 36Kr

Against the backdrop of intensified competition in the domestic market, vaccine companies are accelerating their expansion overseas. Taking Kangtai Biological as an example, after its 23 - valent pneumococcal vaccine obtained a registration certificate in Uzbekistan in 2020, its business has expanded to many countries in Asia and Africa, and the overseas market is becoming a new growth engine.

Graphic by 36Kr