An XRD is a scientific equipment that measures the angles and intensities of X-ray diffraction patterns to analyze the crystal structure of materials. X-ray diffractometers are analytical instruments used in materials science and crystallography to analyze the structure of crystalline materials. X-ray diffraction is an effective method for determining the atomic and molecular structure of a crystalline substance. X-ray diffractometers are analytical instruments used in materials science and crystallography to analyze the structure of crystalline materials.

Vitamin C supplements contain vitamin C in the form of ascorbic acid, which has bioavailability that is equivalent to naturally occurring ascorbic acid in food products, such as orange juice and broccoli. Other forms of vitamin C supplements include sodium ascorbate; calcium ascorbate; other mineral ascorbates; ascorbic acid with bioflavonoids; and combination products, such as Ester-C, which contains calcium ascorbate, dehydroascorbate, calcium threonate, xylonate, and lyxonate.

Pelvic floor diagnostics refers to the diagnosis of pelvic floor disorder. The pelvic floor diagnostic devices evaluate the nerve function of the pelvic floor. A pelvic floor disorder happens when the muscles or tissues of the pelvic area result in weakening or are injured. The most basic disorders of the pelvic floor are urinary incontinence, fecal incontinence, and pelvic organ prolapse.

Nearly 10 million individuals above the age of 50 suffer from hip, spine, or wrist fractures at some point in life. An additional 33.6 million individuals develop low bone mass and are at risk of osteoporosis. The growing number of complications related to bone-associated disorders such as fractures, traumas, bone infections, and bone tumors has led to the increasing demand for bone void fillers. The bone void fillers have become an indispensable tool for surgeons to manage and treat bone disorders. With the growing prevalence of bone-related diseases and accidents, many leading companies are introducing innovative solutions to provide patients with highquality bone void fillers to achieve the best outcomes. Bone grafting is one of the effective applications for dental implants and has widespread use globally. These grafts act as a mineral reservoir in dental implants and are of the following types- autografts, allografts, xenografts, alloplasts. Medical tourism is expected to rise exponentially in the next decade. The increasing specialized hospitals in countries like Singapore, India, China, and Japan have majorly contributed to providing treatment at a reasonable cost, making the patients travel across the borders to get their treatment done at affordable prices.

核药：创新驱动的高壁垒领域，看好 RDC 未来发展。核药又称放射性药物，根据用途不同可分为放射性诊断药物与放射性治疗药物。与放疗相比，治疗用核药可以完成更精准的定位辐射与更高的辐射剂量，具备疗效与安全性优势。核药发展至今，诊断端在 SPECT 与 PET 设备普及扩容下已获批多个疾病种类的的检测；治疗端在神经内分泌瘤与前列腺癌适应症上已经突破，显示出明确的临床获益。核药未来发展趋势为向 RDC（放射性核素偶联药物）研发，而在产业链壁垒上，核药由于其放射性因素，在原料药的生产、核药 的生产、核药的储存配送上具有审批牌照、资金投入等较高壁垒，承担核药生产与储存角色的核药房更是稀缺资源。

2024 年 3 月 5 日上午，十四届全国人大二次会议开幕，李强总理作政府工作报告。在医药领域，报告回顾了 2023 年在医药、医疗、卫生健康等民生保障领域取得的重大成绩，并对该领域 2024 年的工作做出总体要求和工作任务部署。具体提及要积极培育新兴产业和未来产业，加快新兴氢能、新材料、创新药等产业发展，积极打造生物制造、商业航天、低空经济等新增长引擎。针对不断发展的数字经济，政府将深化大数据、人工智能等研发应用，开展“人工智能+”行动，打造具有国际竞争力的数字产业集群。我们认为，加快创新药产业发展、开展“AI+医疗”为 2024 年医疗卫生领域重要发展方向，相关产 业迎来重要发展机遇。

行情回顾：2023年全年，申万医药指数下跌7.1%，跑赢沪深300指数4.3%，2023年医药行业涨跌幅排名第16。2024年2月申万医药指数上涨10.5%，跑赢沪深300指数1.15%，月初以来行业涨跌幅排名第9。2023年全年，血制品累计涨幅21%，系全年涨幅最大的子行业。2024年2月，疫苗板块涨幅最大(16.9%)，线下药店涨幅最小(5.3%)。

2024 年 2 月，医药生物（申万）板块涨幅为 12.38%，在申万 31 个一级行业中排名 第 9 位，跑赢沪深 300、上证综指 3.36、6.85 个百分点，跑输深证成指、创业板指 0.96、 2.83 个百分点。截止 2024 年 2 月 29 日，医药生物板块 PE（TTM，整体法）均值为 25.45 倍，在申万 31 个一级行业中排名第 8 位，位于自 2012 年以来后 8.40%分位数。