近年来，创新药板块在全球资本市场持续引发高度关注，多家行业内公司市值屡创新高，出海、授权交易频现，ADC、双抗、细胞治疗等前沿技术成为投资与产业热点。这一现象背后，不仅反映出市场对颠覆性疗法的强烈期待，也凸显出创新药作为科技与资本深度融合的领域所具备的独特吸引力。本文将从创新药的本质出发，系统剖析其高投入、高风险与高回报并存的产业特性，梳理政策、资本与市场需求的多轮驱动。

Non-cancerous skin diseases therapeutics refer to the medical treatments aimed at addressing various dermatological conditions that are non-cancerous in nature. These conditions cover a broad spectrum of skin problems, including dermatitis, rosacea, acne, eczema, and psoriasis.

Location-based service (LBS) i s provided via location-enabled mobile devices. This software application uses real-time data to track the geographical location of the mobile user via geographic information system technology as well as the Internet.

Medical specialty bags are specially designed bags that are used for the collection of body wastes and feeding patients during various surgical procedures and critical conditions. These bags are also used for the collection, processing, storage, and transfer of blood and blood components.

Mentha is an aromatic herb. Steam distillation and filtration of dried leaves of the herb produce mentha oil, which on processing, produces menthol and other derivatives. Mentha oil and its derivatives are widely used in the food, pharmaceutical, perfumery, and flavoring industry.

Lung cancer is a malignant tumor that is caused by the abnormal or uncontrolled growth of cells in the lung tissues. It is the second-most common type of cancer globally and is the most common cause of cancer￾related deaths in the world. It is of two types, namely, non-small-cell lung cancer (NSCLC) and small-cell lung cancer (SCLC).

Medical tourism refers to the practice of traveling to another country to receive medical care. This can include a wide range of services, from elective procedures and surgeries to dental care, fertility treatments, wellness therapies and other services

A non-mydriatic handheld fundus camera is a portable diagnostic device used to capture high-resolution images of the retina without the need for pupil dilation (mydriasis). It is commonly used by ophthalmologists and healthcare professionals for non-invasive retinal screenings, allowing for the early detection of eye diseases such as diabetic retinopathy, glaucoma, and age-related macular degeneration. The compact design of the camera makes it ideal for use in various healthcare settings, including hospitals, clinics, and ambulatory surgical centers.

Medical device testing refers to the process of evaluating and verifying the safety, functionality, and performance of medical devices to ensure they meet regulatory standards and industry requirements. This involves various tests, such as biocompatibility testing, electrical safety testing, software validation, and sterilization validation, to confirm that the device is safe for use, performs as intended, and complies with local and international regulations before it reaches the market.

The market by value in this report is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography.

Cannabis is a flowering plant of different species, such as cannabis sativa, cannabis indica, and cannabis ruderalis. There are a variety of cannabis plants, of which marijuana and hemp are the two most prominent ones. Cannabis contains two cannabinoids, namely, THC and CBD.