集采负面影响基本出清，龙头企业长期前景可期。目前脊柱类、创伤 和关节类器械等骨科植入物已经被陆续纳入集采范围之中。2024 年人工关节进行了集采续约，整体价格体系基本稳定，膝关节产品意向采购量显著增长，新一代含陶瓷材质髋关节产品占比提升，体现出集采降价后，临床终端实现了以价换量和产品的升级换代。长期看，骨科 疾病发病率与年龄相关度较高，随着我国老龄化趋势延续，预计骨科手术量和骨科植入物的需求量持续稳健增长。骨科植入物行业具有较高的进入壁垒，我们认为行业竞争格局整体较为稳定，龙头企业有望 长期保持领先地位。

睡眠健康行业致力于改善和维护个体睡眠质量，满足消费者对优质睡眠的追求。随着睡眠问题日益严峻，政策持续优化，消费者注重效果与安全，对智能化、个性化产品接受度高。行业规模持续扩大，科技创新推动从单一产品制造向智能化解决方案转变。未来，消费者对睡眠质量的重视、科技的深度融入、防病理念的普及、银发经济的崛起以及线上线下融合的销售模式，将进一步推动睡眠健康行业市场规模的攀升。

The global AI in learning and development market encompasses the spectrum of technologies, platforms, and services that utilize artificial intelligence to transform corporate training and employee upskilling.

The global AI in infrastructure and platforms as a service market encompasses the integration of artificial intelligence and machine learning technologies directly into the foundational layers of cloud computing. This market is not primarily focused on providing tools for end users to build their own AI models; rather, it concerns the use of AI by cloud service providers to enhance the core functionality, efficiency, and security of their IaaS and PaaS offerings

The global AI in ESG and sustainability market represents the critical intersection of advanced computational intelligence and the growing imperative for sustainable and ethical business practices. This market encompasses the technologies, platforms, and services that leverage artificial intelligence, particularly machine learning, natural language processing, and computer vision, to help organizations measure, manage, improve, and report on their environmental, social, and governance (ESG) performance.

AI in electronics and sensors encompasses the design, development, and integration of artificial intelligence capabilities directly within electronic components and sensor systems. This involves embedding machine learning algorithms into hardware like microcontrollers and system-on-chips, enabling on-device data processing, pattern recognition, and real time decision making a concept known as edge AI.

The global AI in economic analytics market encompasses the application of artificial intelligence technologies, including machine learning, natural language processing, and deep learning, to interpret complex economic data and generate predictive insights. This field involves the use of sophisticated algorithms to analyze vast structured and unstructured datasets, such as macroeconomic indicators, financial market transactions, corporate filings, and global news sentiment.

The global AI in data center services market encompasses the integration and application of AI, machine learning (ML), and deep learning (DL) technologies to optimize every facet of data center operations and infrastructure management. This technology functions by leveraging sophisticated algorithms to analyze vast streams of real time and historical data from IT hardware, environmental sensors, and operational logs.

The global AI in consumer electronics market encompasses the design, development, and integration of artificial intelligence technologies into electronic devices intended for personal use. This market includes hardware components, embedded software, algorithms, and cloud-based services that enable devices to perform intelligent functions such as learning, reasoning, and self-correction.

The global AI in cologne market encompasses the integration and application of artificial intelligence technologies throughout the entire lifecycle of fragrance products for men