The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for artificial joints by geography and historical trend. The scope of the report extends to sizing of the artificial joints market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for articulated robot by geography and historical trend. The scope of the report extends to sizing of the articulated robot market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for angiography equipment by geography and historical trend. The scope of the report extends to sizing of the angiography equipment market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for anti-aging services by geography and historical trend. The scope of the report extends to sizing of the anti-aging services market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for arthroscopy devices by geography and historical trend. The scope of the report extends to sizing of the arthroscopy devices market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for anatomic pathology by geography and historical trend. The scope of the report extends to sizing of the anatomic pathology market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for antipsychotic drugs by geography and historical trend. The scope of the report extends to sizing of the antipsychotic drugs market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for animal antibiotics and antimicrobials by geography and historical trend. The scope of the report extends to sizing of the animal antibiotics and antimicrobials market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for antimicrobial powder coatings by geography and historical trend. The scope of the report extends to sizing of the antimicrobial powder coatings market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for anesthesia video laryngoscope by geography and historical trend. The scope of the report extends to sizing of the anesthesia video laryngoscope market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for animal genetics by geography and historical trend. The scope of the report extends to sizing of the animal genetics market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for antimicrobial plastics by geography and historical trend. The scope of the report extends to sizing of the antimicrobial plastics market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for animal parasiticides by geography and historical trend. The scope of the report extends to sizing of the animal parasiticides market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for artificial neural network by geography and historical trend. The scope of the report extends to sizing of the artificial neural network market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for aerospace antimicrobial coating by geography and historical trend. The scope of the report extends to sizing of the aerospace antimicrobial coating market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

本周申万医药生物同比上涨2.72%，表现强于大盘。其中医疗服务子行业上涨5.19%；生物制品子行业上涨3.01%，医疗器械子行业上涨2.83%，中药子行业上涨1.43%，化学制药子行业上涨2.12%，医药商业子行业下跌0.55%。1月11日种植牙带量采购价格降幅55%，相比心脏支架而言温和的降幅、叠加消费复苏的预期，牙科医疗服务领涨。受1月8日结束的医保谈判以及摩根大通医疗大会带动，生物制品、化学制药表现好。

12 月份医药生物板块呈现下跌趋势，整体下跌2.57%，其中中药跌幅达9.28%，估值下滑至24X 左右。伴随疫情防控措施优化，中药板块在12 月下旬估值回调，呈现先扬后抑态势。虽然估值较9 月底的19X 有所提升，但整体估值在医药板块仅高于医疗器械和医药商业。行业逻辑方面，顶层政策中药十四五规划以及后续细则的落地，中医对中药的推动将形成正向商业模式，中医药发展上升为国家战略；中药从“治已病”到“治未病”的转变，中西医结合是未来医疗新方向；老龄化提升背景下，医养结合的新型养老模式优势突出，中药以副作用小的预防、保健效果将迎来更大机会。公司逻辑方面，国企改革三年行动方案全面收官，股权激励的推出和治理机制的健全推动中药企业基本面和业绩双重改善；品牌中药中药材价格上涨推动终端核心产品提价，个别明星产品实现量价齐升；中药集采下独家品种降幅温和，消费中药具备强消费属性集采压力较小。

尽管疫情防控下2022 年医院诊疗延续疲软态势，但医保结余创历史新高（我们预计2022 年结余有望超6000 亿元，累计结余有望超4.2 万亿元）。随着新冠疫情影响减弱，患者就诊意愿2023 年有望强劲恢复，国家医保中短期有望展现强有力的支付能力。政策层面，我们认为2022 年为触底转向年，首先药品与重要高值耗材的国家集采已基本结束且降幅不断收窄，集采对企业的负面影响边际递减，其次药审新规下中国创新药的内卷格局有望大幅改善，展望2023 年，政策回暖趋向显著，板块估值压力有望逐步解除。

眼科医疗服务行业供给端蓬勃发展，医院数量+专业人才+医疗设备不断扩充：1）医院端：在我国医疗卫生体制改革不断深化的背景下，政府出台一系列政策鼓励社会办医，民营医院的数量得到迅速扩大，其中眼科民营医院数量从2014 年的403家增长至2020 年的1061 家，CAGR 为17.5%；2）人才端： 2020 年我国眼科专科医院执业（助理）医师达1.9 万人，注册护士达 3 万人， 2015-2020 年间的年复合增长率分别达 16.9%和 18%，越来越多的医护人员选择到眼科专科医院注册执业；3）设备端：2020 年我国眼科专科医院万元以上设备总价值达130.4 亿元， 2015-2020 年间的年复合增长率达17.9%。

行业监管持续完善，美妆品类成视频号最畅销类目之一。1）监管端：8 批次化妆品检出禁用原料，其中包括4 批次护肤日化类产品和4 批次指甲油类单品；国家药监局发布化妆品抽检新规，自2023 年3 月1 日起施行，儿童化妆品、新材料等受到重点关注；2）原料端：全国首个青蒿提取物团体标准发布，规定了化妆品用原料青蒿提取物的要求、试验方法、检验规则等，青蒿油优异的护肤功效的消费者认知有望得到提升；3）品牌端：贝泰妮旗下高端护肤品牌AOXMED 瑷科缦全国首个线下专柜落地北京汉光百货，AOXMED 定位高端抗衰市场，线下首柜是品牌在线下渠道的医美机构外迈出的关键一步；4）运营端：视频号直播带货规模保持高速增长，销售额同比增长超8 倍，平台公域购买转化率提升超100%，客单价超200 元，美妆品类成视频号最畅销类目之一。