Ultrasonic flowmeters use ultrasonic waves to measure flow rate of fluids. The calculation is done from frequency shift of a transmitted ultrasonic signal that has travelled through the process fluid. The working principle of ultrasonic flowmeters is based on Doppler effect or Transit-time type. Although both these technologies are based on ultrasonic signals, there are major differences in the way the signal is transmitted and received. This difference makes them ideal for a wide range of fluids such as liquids, gases, and steam.

The ultrasound devices market is segmented into product type, type of device display, device portability, application, and region. By product type, it is segmented into diagnostic ultrasound systems (including 2D imaging systems, 3D & 4D imaging systems, and Doppler imaging), and therapeutic ultrasound systems (including HIFU and ESWL). By type of device display, it is bifurcated into color ultrasound devices and B/W ultrasound devices. By device portability, it is divided into trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. Ultrasound technology finds applications in many clinical areas, namely, radiology/general imaging, cardiology, obstetrics/gynecology, vascular, urology, and other clinical areas such as emergency medicines, anesthesiology, and musculoskeletal.

Over the past few decades, the pharmaceutical packaging panorama has seen a lot of changes and transformations. The launch of new technologies has lined the way for pharma packaging companies to discover more advanced solutions, enhance their procedures, and drive proficiencies across the supply chain. In the early days, glass medical and drug bottles were common and less costly to manufacture. However, plastic bottles were effective but very costly to produce on a mass scale. Eventually, with innovations, plastic became less expensive. As the production costs of these materials went down, they became the standard options for pharmaceutical packaging. At present, plastic bottles are everywhere in the pharmaceutical field, offering tamper-proof, child-safe options and resilience against water, heat, and impact.

总报告分为三个部分：第一部分从形势、背景、市场、用户等方面总结了2016年互联网健康医疗行业发展的总体状况；第二部分将互联网健康医疗行业企业分为服务驱动型和技术驱动型两种类型，总结了不同领域互联网健康医疗行业的发展情况；第三部分概述了互联网健康医疗行业的发展趋势——未来将会在分级诊疗和多点执业、大数据、医药电商、健康险设计营销、健康管理等方面进行发展和突破。总体来说，2016年互联网健康医疗行业积极、健康、快速发展，业务范围进一步扩大，创新能力不断增强，产品和服务的结合更加紧密，日益吸引监管、资本、市场和客户等方面的高度关注，并进入高速发展通道。

近期，源于投融资数据波动等多项因素的扰动，市场对CXO 赛道的景气度可 持续性产生一定程度的担忧。我们认为，当前引发市场对CXO 赛道担忧的众 多因素，并未对CXO 赛道景气度造成太多实质性影响，从投融资数据、IND 数据、研发费用投入等行业性指标来看，亦或从新签/在手订单、产能投入等 企业前瞻性指标考虑，当前CRO、CDMO 仍维持在较高的景气度，未来仍将 是医药行业中成长性及确定性较高的板块之一。

党和国家领导人十分重视健康医疗的发展。习近平总书记在全国卫生与健康大会上强调，要以人民健康为中心，关注生命全周期、健康全过程，要把人民健康放在优先发展的地位，提出“推进健康中国建设，要把健康融入所有政策”。2016年，国家先后发布了关于医药卫生体制改革、促进和规范健康医疗大数据应用发展等政策，并在“十三五”规划纲要中提出推进健康中国建设，发布“健康中国2030”规划纲要。

几乎所有人都相信，互联网健康医疗的发展是大势所趋。但眼下的困难使人们不得不面对这样一个疑虑：路在何方？在全球都没有可供参考的成功经验的大背景下，中国正有大批优秀的医疗创业者在执着地探索，并已经初现成果。本报告选择春雨医生、丁香园、微医、趣医网、平安好医生这5家企业作为研究对象，分别着眼于在线诊疗、线下医疗机构、互联网医院、区域医疗信息化、管理式医疗等几个主流发展方向。当然，路径不限于此，笔者只是希望能够从这些已经成长为独角兽的企业的实践中发现可供借鉴的经验。

2016年，国内医药电商在药品第三方平台网络零售试点结束的政策影响下一度陷入发展低潮，但凭借10余年的行业积淀和企业实践，最终在创新思维与试错精神的指导下，表现出以重塑差异化、重建竞争力、强者愈强等为关键词的良性发展状况。本报告以康美药业为主要研究对象，分析2016年国内医药电商的发展路径。