2019 年公司实现营收223.19 亿美元，同比增长3.8%。实现持续经营性净利润46.38 亿美元，同比增长47.2%。当期EPS（GAAP）达到8.89 美元。

受疫情影响，中小企业收入下滑明显，29.6%中小企业营业收入下降50%以上；85%中小企业现金维持时间在3个月内。线下消费为主的行业损失惨重，国家经济增长遭受打击。用户消费指数：外出就餐-0.70、外卖-0.45、商务出差-0.71、国内旅游-0.74、出境旅游-0.59、网约车-0.55，网购-0.22。

百奥泰登陆科创板首日涨幅84%，上周特宝生物和热景生物回调明显创新药企业百奥泰上周五正式上市，首日涨幅83.65%，现市值为249.28 亿。其次为心脉医疗周涨幅11.59%，现市值132.00 亿。特宝生物和热景生物跌幅明显，周累计跌幅分别达11.70%及12.05%。我们认为科创板作为鼓励创新药械的融资平台，技术的创新性和稀缺性成为奠定市值的基础，建议把握相关公司创新产品研发持续迭代过程中投资机会。

非典之后公共卫生体系得到较大改进。2003年非典疫情的冲击暴露出中国公共卫生体系存在较大的缺陷，随后国家全面加强疾病预防控制，提高应对重大传染病等突发公共卫生事件的能力，在法律法规体系、机构设臵、人才队伍、经费保障等多个维度都有显著提升。截至2012年底，全国各级疾控中心已建有3484家实验室，100%的县级以上疾控机构、98%的县级以上医疗机构、94%的基层卫生机构均可实现法定传染病实时网络直报。非典之后出现的甲型H1N1流感、鼠疫、禽流感、H7N9和MERS等疫情事件都得到了较为有效的应对和处理。

新型冠状病毒肺炎：疫情目前正积极控制，但拐点尚未到来。新型冠状病毒肺炎最早来自于武汉华南海鲜市场，自2019 年12 月以来，肺炎疫情由湖北省武汉市向全球蔓延。国家面对此次疫情展开了积极有效的应对措施，在经历最初20 多天的疫情高速爆发后，目前疫情已得到初步控制，全国各地区疫情总体呈下降趋势。截止2月24日，全国多个省市地区连续多天无新增确诊人数。尽管现在全国疫情总体情况呈下降趋势，但是仍不可掉以轻心，因为疫情拐点尚未到来，依然需要对此予以高度重视。

近一个月（2020.1.21-2020.02.23），医药指数累积涨跌幅增长放缓，板块进入成长期。由于核心龙头资产估值依然相对溢价，未来投资者的收益来自于企业业绩稳健成长的部分，估值持续向上拉升的空间有限。

This research report provides insights into the global PACS and RIS Market. Picture archiving and communication system (PACS) is used for management, retrieval, storage, and distribution of the medical images. In the field of radiology, it is used for sharing and viewing of diagnostic images. A radiology information system (RIS) is a network of the software system used for managing medical images and other related data. RIS keeps track of radiology imaging orders and data of bills. It is used along with PACS and vendor neutral archives (VNAs). RIS manages image archives, keeps record and billing. The scope of the PACS and RIS market includes product, component, deployment, end user and country. The report offers insights and in-depth analysis of the PACS and RIS market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the region.

供给：12 月，医药行业生产动能小幅提升，但仍处于较低水平。12 月，医药行业工业增加值为5.3%，增速较11 月提高0.2 个百分点。1～12 月，医药行业工业增加值为6.6%，增速较1～11 月下降0.2 个百分点。需求：12 月，药品零售市场需求大幅上升，中西药品零售总额环比上升。12 月，中西药品零售总额为581.5 亿元，达到全年最高值，环比增长11.2%，同比增长8.2%。1～12 月，中西药品零售总额为5907.1 亿元，同比增长9%，增速较1～11 月小幅下降0.1 个百分点。

The market studied is currently being driven by factors, such as rising geriatric population across the world and increasing demand for remote patient monitoring in developing regions. With the increasing geriatric population and prevalence of chronic diseases, there is a growing need to find new ways of improving patient outcomes, increasing access to care, and reducing the cost of medical care. Using remote patient monitoring, which utilizes devices to remotely collect and direct information to a remote diagnostic testing facility for interpretation, the healthcare providers, insurance payers, and the various governments are seeking to alter the way in which care is being delivered, while reducing the cost of care at the same time. Tele-intensive care units have great potential to expand, access, and improve the quality of rural healthcare. It can help reduce burdens for patients, such as travel, to receive specialty care and improve monitoring, timeliness, and communications within the healthcare system. However, in many places, particularly rural areas, the connectivity broadband remains too expensive, unreliable, or simply not available at the speeds required.

The Europe PACS and RIS market is estimated to grow at a CAGR of 7.0% from 2019 - 2027. The market of PACS and RIS in the Europe region is majorly contributed by the Germany. The region is experiencing the robust growth of the market owing to various factors such as government investment in healthcare infrastructure, increasing awareness regarding the medical imaging as well as the benefits associated with implementation of PACS and RIS. The top 10 industry players operating in the market of PACS and RIS across the globe includes McKesson Corporation, General Electric, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Siemens AG, Cerner Corporation, IBM, Novarad, Agfa-Gevaert Group, and INFINITT Healthcare Co., Ltd.