投资建议：综上所述，我们推荐（1）CXO一体化龙头药明康德、凯莱英、康龙化成，关注药明生物、泰格医药；（2）各细分领域优势企业九洲药业、药石科技、昭衍新药，关注博腾股份。

对比美国、韩国、台湾地区等国家和地区，我国大陆医疗器械的“严进”政策筑高壁垒。审批时长看，我国大陆械III 类申请时间约为3-4 年，花费时间比美国长1-2 年（美国械III 类医美产品的审批时间约为6 个月-2 年）；韩国III 类审批时长在材料齐全下，半年即可获批。相比之下，我国大陆对医疗器械的审批较为审慎，无论从III 类医疗器械占比还是从审批流程看，我国大陆相对“严进”，由此形成了医美上游制造商的高进入壁垒，优先获证的企业享受先发优势，能在市场竞争中率先建立品牌影响力。

经历了不平凡的2020年，疫情的洗礼下医药板块从2021Q1开始，进入了强势复苏阶段，国内强大的刚需性，进口替代和产业升级，将为推动A股生物医药领域发展提供强劲的动力。同时伴随着医保政策调整方向和趋势的逐渐明朗以及注册制下越来越多的新股涌现，A股生物医药板块从2021年初开始进入分化调整期，抱团度较高的高估值龙头个股开始逐渐分化，医药投资进入了百花齐放的新时期，在瞄准优质赛道的同时，精选个股，将是2021年下半年生物医药板块投资的关键。

Vitamins play a major role in several industries, including food and beverages, public health, dietary supplements, and medical nutrition. Vitamins such as D3 are considered the major constituents and active pharmaceutical ingredients (API) in the pharmaceutical industry. The outbreak of COVID-19, the increasing demand for nutricosmetics, the rising intake of nutritional supplements, and growth in investments in the animal feed industry are expected to drive the market for vitamin D during the forecast period. While the industry is expected to pose an absolute growth of 62% by 2026, over 75% of the growth is expected to come from APAC, North America, and Europe regions.

Wearable patch, also called as smart patch or electronic skin, is used for disease monitoring and diagnosis applications. Wearable patch helps maintain health and wellbeing in elderly patients suffering from chronic conditions such as diabetes and others. This study comprises products only and not the services. The study estimates the revenue generated from the sales of wearable products. The valuations comprise revenue generated from adoption of wearable patch products by patients. The study scope focuses on wearable patch products for healthcare and fitness and sports applications.

Structural health monitoring (SHM) refers to collection and analysis of data collected through a wide array of connected sensors during the service life of a structure or equipment. It is non-destructive and continuous method of identifying and quantifying the deterioration state of the object to predict the necessity of repair and maintenance.

The report provides market dynamics and trends related to the global rapid acting insulin market. In addition, it presents the market estimations and forecast of the market. The study estimates revenue generated from the sales of different form of rapid insulin such as insulin lispro, insulin aspart, and insulin glulisine. The report covers revenue generated from rapid acting insulin for type 1 diabetes and type 2 diabetes. Moreover, the report excludes revenue generated from post-sale services of the rapid acting insulin market.