9月A股整体表现平稳，医药板块小幅反弹。2017年9月A股市场整体表现平稳，wind全A指数上涨0.49%，wind全A医药指数上涨1.52%，小幅跑赢整体指数。从2000年以来17年数据来看，医药行业估值处于历史平均水平，但行业股指溢价率在持续下降，处于近五年以来的低位。9月市场风险偏好有所提升，成长股估值有所修复，次新股板块明显反弹，普利制药、复星医药、恒瑞医药、长春高新和疫苗板块（沃森生物、康泰生物和智飞生物）等个股实现了显著的股价上涨，部分个股及子行业业绩不及预期，股价下跌幅度较大。

Point-of-care (POC) lipid testing is used to measure the lipid level of the blood at a convenient place near the patient. The test also measures high-density lipoprotein (HDL), low-density lipoprotein (LDL), cholesterol, and triglyceride level of the blood.The report defines the market by product, which includes instruments and consumables.The report segments the market based on end-users, which includes hospitals and clinics, diagnostic centers, and home healthcare settings.The report segments the market by regions, which includes Americas, EMEA, and APAC.The report presents the vendor landscape and a corresponding detailed analysis of the top three vendors operating in the market. In addition, it discusses the major drivers influencing market growth and the challenges faced by the vendors. It also examines the key emerging trends and their influence on current and future market scenarios.

Clinical chemistry analyzers are used for the analysis of samples such as blood,serum, and urine for the detection of analytes. These analyzers are used to detect and measure protein, enzyme, and electrolyte levels present in the sample. The measurement is based on the techniques such as photometric and colorimetric testing, potentiometry, and agglutination.The global clinical chemistry analyzers market is expected to grow at a steady rate during the forecast period. The factors like increasing older population, and rising incidence and prevalence of diabetes, renal diseases, and infections are driving the market. However, the market growth is affected by the growing use of integrated analyzers, which are used to detect various infectious diseases and analytes.

Hydrocephalus is the abnormal accumulation of CSF within the brain cavities called ventricles (space near the spine). It occurs due to an imbalance in the formation and absorption rate of the fluid. This results in ventricle enlargement and increasedpressure inside the head.CSF produced in the ventricles is circulated throughout the body through ventricular system into the subarachnoid space that is absorbed into the venous system or the bloodstream. CSF production is approximately 0.2 ml/min to 0.4 ml/min or 500 ml to 600ml per day.

我们认为从基本面看，随着国内公立医院药品加成取消逐渐落地，检验等医技项目在医院收支平衡的重要性正在不断上升，预计未来相当长时间内检验需求（特别是新技术、新项目、特检项目、精准医学应用等）都将维持有力增长，这是 IVD 行业成长的动力源泉。

国内合规医美执业医生稀缺，直接导致非法医美横行。根据 ISAPS 2017 年 7 月公布的最新数据，中国正规医美疗程于 2016 年预估达 250 万例，同比增长 14.1%，站稳全球第三大市场并且进逼巴西全球第二（252 万例）的地位。但与此相对的是中国合规医美外科医生人数仍维持 2800 人，相比美、日、韩每百万人分别享有 20.6 人/17.5人/46.6 人医美外科医生，中国每百万人仅享有 2.2 人。