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2019年六大创新医疗器械行业分析

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发表于 2020-10-19 22:46:47 | 显示全部楼层 |阅读模式

                    

                    

                    
                    
                    <p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;"><img data-type="gif" class="__bg_gif " data-ratio="0.10555555555555556" data-w="720" src="http://mmbiz.qpic.cn/mmbiz/M2H0aGBjWUTRia7nqkArYeKZUqEfdmpNibMPiaZk4gvlWk5v5lUKyXhjJP4CENKQeQt5HI8zwcTCWJOkicfWJiatdJQ/640?wx_fmt=gif" style="box-sizing: border-box !important;word-wrap: break-word !important;visibility: visible !important;width: auto !important;"  /></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 12px;color: rgb(136, 136, 136);box-sizing: border-box !important;word-wrap: break-word !important;">来源:泰山汇健康金融<span style="max-width: 100%;font-family: 微软雅黑, Arial;text-align: center;background-color: rgb(250, 250, 250);box-sizing: border-box !important;word-wrap: break-word !important;"></span></span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 12px;color: rgb(136, 136, 136);box-sizing: border-box !important;word-wrap: break-word !important;"><br  /></span></p><article data-author="gulangu" style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><section style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;line-height: 1.75em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">据CFDA数据,2018年医疗器械市场延续了近几年的高增长趋势。2011-2018 年中国医疗技术与医疗器械行业收入的年平均复合增长率高达20.7%,远高于全球 3%左右的年平均复合增长率。</span></p><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="max-width: 100%;min-height: 1em;line-height: 1.75em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">2018年中国医疗器械市场规模约3,700亿元。预计2019年市场规模将达到6,000亿左右。其中影像设备、体外诊断和高值耗材占据医疗器械市场的前三大部分,分别占到总市场规模的19%、16%及13%。<strong style="max-width: 100%;line-height: 1.5em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">政策,市场和新技术依然是影响中国医疗器械行业发展的三大主要因素。2018年六大创新医疗器械投资方向:影像设备子行业,体外诊断的子行业,心脑血管子行业,肿瘤相关器械子行业,外科、骨科器械子行业,医</strong><strong style="max-width: 100%;line-height: 1.5em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">疗人工智能子行业。</strong></span></p><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p></section></article><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;text-align: justify;white-space: normal;widows: 1;letter-spacing: 0.483556px;line-height: 24.1778px;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;"  /></p><p><br  /></p><article data-author="gulangu" style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><section style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><section style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><blockquote style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 18px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;color: rgb(49, 133, 155);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">影像设备子行业</span></strong></span></p></blockquote><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p></section></section></article><p><br  /></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;"  /></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;text-align: justify;white-space: normal;widows: 1;letter-spacing: 0.483556px;line-height: 24.1778px;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quotingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">《2018-2020中国大健康产业投资研究报告》资料:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">医学影像行业主要分为上游医学影像设备及耗材和下游影像诊断服务。医学影像同样也是全球医疗器械规模中名列前茅的细分行业。2012年全球医疗器械市场销售额达 3490亿美元,其中影像诊断产品市场销售额达361亿美元,以 10.3%的市场份额位居全球医疗器械市场第3位。中国是全球第四大医学影像市场,占全球份额12%,预计到2018年,医学影像市场规模将达到55亿美元。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">创新影像设备子行业投资方向:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">对通用型的大型设备而言,诸如CT、磁共振、PET-CT等领域,目前优秀的早期项目比较少,且估值偏高。我们比较看好细分领域的影像设备,尤其是具有自身应用场景的独有硬件和人工智能算法的细分领域,例如乳腺癌超声、牙科锥束CT等方向。此外,我们对掌握核心技术等影像核心部件上游企业也比较看好。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><blockquote style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;color: rgb(49, 133, 155);font-size: 18px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">体外诊断子行业</span></strong></p></blockquote><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">《2018-2020中国大健康产业投资研究报告》资料:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">体外诊断试剂包含血液、生化、免疫、分子生物、细菌、POCT等几大方面。中国的体外诊断试剂行业已经具备了一定的市场规模和基础,正从产业导入期步入成长期,具有较好的市场前景。据统计,2014—2015年,交易规模在5000万美元的医疗器械相关投资并购案例中,涉及体外诊断的占1/3。2016 年,我国体外诊断市场规模约 510 亿元,预计未来3-5年将保持15-20%增速,2020年市场规模将超850亿。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">相比于国外成熟市场,中国的体外诊断试剂行业规模目前还相对较小。中国的人口占世界人口的1/5以上,但是体外诊断试剂领域的份额却只占了全球的4%,中国体外诊断产品的人均年使用量为1.5美元,而发达国家人均使用量为25到30美元。中国体外诊断试剂产业发展总体表现出的特点是市场大,但市场潜力更大。因此,体外诊断试剂是医疗器械行业投融资中炙手可热的一块。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">创新体外诊断的子行业投资方向:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">一滴血,一口气、一口沫,可以实现对疾病的全面检测是未来的发展趋势。如何在合适的切入口找到有效、靠谱的检验手段是投资这一领域的难点。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">分子诊断和即时检验(POCT)仍然的是创新主要方向。在分子诊断中,大数据和人工智能将改变整体分子诊断格局。例如,基因测序的测序服务正在面临新一轮的洗牌,拥有自己的数据库、核心算法和临床解读能力的公司将有机会突围。基因测序上游相关试剂的国产化也将是重要机会。肿瘤的伴随诊断目前市场教育已经基本成熟,是值得投资的方向之一。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><blockquote style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 18px;color: rgb(49, 133, 155);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">心脑血管子行业</span></strong></p></blockquote><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">《2018-2020中国大健康产业投资研究报告》资料:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">我国共有心血管病患者2.9亿,每年约370万人死于心血管病,占总全国死亡人数的42%。心血管医疗器械领域一直是全球医疗器械市场中规模最大的细分领域之一。</span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">中国在老龄化趋势以及心脑血管等疾病高发的背景下,心血管介入器械的市场需求巨大,行业发展前景良好。但是,目前我国心血管植入医疗器械本土企业与欧美竞争对手之间仍存在巨大的差距,市场大都掌握在外资企业手中。在占据市场总份额最多的高端介入耗材以及心脏起搏器,美敦力、圣犹达、波士顿科学、雅培等国外企业占据了市场总份额的80%。随着国内企业技术的积累以及研发的不断投入,国内企业已开始有所突破。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: center;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><img class="" data-copyright="0" data-ratio="0.607773851590106" data-s="300,640" data-type="jpeg" data-w="566" src="http://mmbiz.qpic.cn/mmbiz_jpg/1AtuqvSicecxemKe0DlWF2bxR9SlQF5QVzHia1AOMhFuaGptlEibuBY7ic2vfI0B0lZU7R1OgmQuAbH6ocXdSx4quQ/640?wx_fmt=jpeg" style="zoom: 0.888889;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;width: 566px !important;visibility: visible !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">创新心脑血管子行业投资方向:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">心血管植入医疗器械热点相对较多,支架不再是我们重点关注的方向,比较关注的创新方向集中在经导管瓣膜介入、冠心病诊断类器械、心脏起搏器、药物球囊、射频消融器械和心脏封堵器等几个方向。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><blockquote style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;color: rgb(49, 133, 155);font-size: 18px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">肿瘤相关器械子行业</span></strong></p></blockquote><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">资料综合:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">根据 IARC 的预测,我国未来恶性肿瘤死亡率将会平均高于全球平均水平 10%左右,肿瘤治疗的优秀方法的供需之间存在巨大缺口。 目前国际间共有三大核心肿瘤治疗方法:手术、化疗、放疗。放疗是利用放射线照射癌组织,以抑制和杀灭癌细胞的一种治疗方法,是大多数肿瘤的辅助疗法、少数放疗敏感型肿瘤的首选疗法。超过 70%的肿瘤患者都需要进行放疗,即大部分接受手术和化疗的患者同样需要采取放疗作为辅助治疗手段。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">国内伽马刀装机量不足。 目前我国放疗市场中,直线加速器是绝对主流,主要生产商是外资医科达和瓦里安,价格昂贵,且有一定副作用,目前全国共有 3000 台以上直线加速器。而不同于直线加速器的是,伽马刀以国产品牌为主,进口设备不到 10%,但两者相距甚远的装机量说明伽马刀潜在市场巨大。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;white-space: normal;widows: 1;text-align: center;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><img class="" data-copyright="0" data-ratio="0.7136752136752137" data-s="300,640" data-type="jpeg" data-w="468" src="http://mmbiz.qpic.cn/mmbiz_jpg/1AtuqvSicecxemKe0DlWF2bxR9SlQF5QVohDvvFTWfe0loKt6BvS3xtAiaGZIDVXDJx6N5qz9HHPln8f70kUY5DQ/640?wx_fmt=jpeg" style="zoom: 0.888889;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;width: 468px !important;visibility: visible !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">创新肿瘤相关器械子行业投资方向:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">曾经热过一段时间的肿瘤消融设备,包括冷冻、射频、微波和激光等风光不再。在放疗领域,质子重离子技术国内企业要有所突破尚需较长时间的积累。电子直线加速器的企业值得关注,但需要重点考察研发和生产高能机的能力。伽马刀基于自身技术的限制,市场空间有限,并不是我们关注的投资方向。此外,近年来肿瘤介入增长迅速,新型载药微球值得关注,微球输送系统耗材或许是未来新的市场增长点,但技术尚未完全成熟。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><blockquote style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;color: rgb(49, 133, 155);font-size: 18px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">外科、骨科器械子行业</span></strong></p></blockquote><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">《2018-2020中国大健康产业投资研究报告》资料:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">骨科器械是医疗器械行业不容忽视的细分行业,从整体医疗器械占比来看,大致占到6%左右,近五年国内骨科器械行业保持15.5%左右的复合增长,远超过全球 4.5%左右的增幅。据预测,从2015年到2018年也将保持15%的复合增长率,市场规模可达到210亿。期间增长比较大的细分领域是关节类器械和脊柱类器械,可以达到20%以上。骨科器械在医疗器械行业也被看做是高值耗材,技术含量较高,产品较高的毛利率水平和巨大市场成长空间,吸引了大量的国内外生产厂家进入该行业。目前,国内骨科器械行业仍处于发展初期,呈现多、小、弱的特点。</span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">创新外科、骨科器械子行业投资方向:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">鉴于国内巨大的骨科市场成长空间以及骨科企业多、小、弱的特点,未来骨科版块仍是医疗器械行业投融资的热门版块。手术机器人无疑仍是重要方向之一。但是,近年来由于资本的过度追逐,价格偏离价值的现象比较严重。3D打印结合生物材料也是最为看好的方向之一。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><blockquote style="max-width: 100%;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><p style="max-width: 100%;min-height: 1em;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 18px;color: rgb(49, 133, 155);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">医疗人工智能子行业</span></strong><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p></blockquote><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;line-height: 27.2px;text-align: justify;white-space: normal;widows: 1;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">CFDA资料:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">2017年8月31日,CFDA发布了新版《医疗器械分类目录》,该分类政策将于2018年8月1日起正式施行。新《分类目录》原来的43个子目录精简为22个。其中尤为引人注意的是其新增了与人工智能辅助诊断相对应的类别,在目录中具体体现在对医学影像与病理图像的分析与处理。</span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"  /></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">创新医疗人工智能子行业投资方向:</strong></span></p><p style="margin-top: 5px;margin-bottom: 5px;max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;font-variant-numeric: normal;font-variant-east-asian: normal;letter-spacing: 0.544px;text-align: justify;white-space: normal;widows: 1;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;overflow-wrap: break-word !important;">医疗人工智能是医疗未来发展的方向。同其他行业相比,医疗行业人工智能应用的基础较好,医疗行业痛点明显,例如高端医疗人才缺乏、资源分布不平衡、医疗成本高等;数据电子化程度较高、数据较集中且质量较高;较多应用场景可以实现相对标准化,如医学影像等。基于目前的观察,医学影像和医学虚拟助理的人工智能会相对成熟一些,有些标的值得关注。</span></p><p style="max-width: 100%;min-height: 1em;color: rgb(51, 51, 51);font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 17px;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 12px;color: rgb(136, 136, 136);box-sizing: border-box !important;word-wrap: break-word !important;"><br  /></span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;color: rgb(62, 62, 62);text-align: center;font-family: 微软雅黑;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;">赞<span style="max-width: 100%;line-height: 25px;box-sizing: border-box !important;word-wrap: break-word !important;">是一种友谊 |&nbsp;</span><span style="max-width: 100%;line-height: 25px;color: rgb(192, 0, 0);box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;">分享</strong></span><span style="max-width: 100%;line-height: 25px;box-sizing: border-box !important;word-wrap: break-word !important;">传递智慧</span></p><p style="margin-bottom: 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!important;"><span style="max-width: 100%;font-size: 18px;color: rgb(62, 62, 62);line-height: 25px;text-align: center;box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;white-space: normal;font-family: 微软雅黑;color: rgb(171, 25, 66);box-sizing: border-box !important;word-wrap: break-word !important;">,您身边专业超声维修专家</strong></span></strong></strong></strong></span></strong></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;color: rgb(62, 62, 62);text-align: center;font-family: 微软雅黑;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;letter-spacing: 0.5px;line-height: 28px;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 15px;box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;letter-spacing: 1px;line-height: 25.6px;white-space: pre;color: rgb(68, 68, 68);font-family: 宋体;box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;color: rgb(95, 73, 122);font-size: 14px;line-height: 24.381px;text-align: justify;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 18px;color: rgb(62, 62, 62);line-height: 25px;text-align: center;box-sizing: border-box !important;word-wrap: break-word !important;"><strong style="max-width: 100%;white-space: normal;font-family: 微软雅黑;color: rgb(171, 25, 66);box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;color: rgb(62, 62, 62);font-size: 15px;line-height: 24px;box-sizing: border-box !important;word-wrap: break-word !important;">超声一站式服务商</span></strong></span></strong></strong></strong></span></strong></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;color: rgb(62, 62, 62);font-family: 微软雅黑;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;text-indent: 0em;font-family: Arial, Verdana, sans-serif;line-height: 1.75em;box-sizing: border-box !important;word-wrap: break-word !important;">地址:广州市天河区银利街银利茶叶博览中心E栋4楼E4030室 &nbsp; &nbsp; &nbsp;</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span 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break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">传真:020-8722 8623</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">全国统一免费服务热线:400-020-6788</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;line-height: 24.381px;box-sizing: border-box !important;word-wrap: break-word !important;">公司官网:http://www.parts-ultrasound.com/</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;color: rgb(62, 62, 62);font-family: 微软雅黑;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;line-height: 1.75em;text-indent: 0em;font-size: 14px;font-family: Arial, Verdana, sans-serif;box-sizing: border-box !important;word-wrap: break-word !important;">微信公众帐号:</span></p><p style="max-width: 100%;min-height: 1em;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;color: rgb(62, 62, 62);line-height: 25.6px;text-align: center;font-family: 微软雅黑;box-sizing: border-box !important;word-wrap: break-word !important;"><img class="" data-ratio="1" data-s="300,640" data-type="jpeg" data-w="258" width="auto" src="http://mmbiz.qpic.cn/mmbiz_jpg/dx3KibwtDhvfh2wVX4NftfnfjcZWIKK6EQDWtTTsYwjfQBnsqkThAZP5OlDmg5S3g22gSqMWhAxr2O4MydSJHnQ/640?wx_fmt=jpeg" style="float: left;box-sizing: border-box !important;word-wrap: break-word !important;visibility: visible !important;width: auto !important;"  /></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">维修咨询:QQ: &nbsp;712638 404</span><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;"  /></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">设备咨询: &nbsp; QQ: &nbsp;712638 405</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;color: rgb(62, 62, 62);font-family: 微软雅黑;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;font-family: Arial, Verdana, sans-serif;line-height: 1.75em;text-indent: 0em;box-sizing: border-box !important;word-wrap: break-word !important;">软件咨询:QQ: 712638 406</span><br style="max-width: 100%;box-sizing: border-box !important;word-wrap: break-word !important;"  /></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">配件咨询:QQ: &nbsp; 712638 407</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">交流Q群:1106 11074</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">阿里店铺网址:https://renchengyiliao.1688.com</span></p><p style="margin-bottom: 5px;max-width: 100%;min-height: 1em;letter-spacing: 0.544px;text-align: justify;text-indent: 0em;white-space: normal;background-color: rgb(255, 255, 255);font-size: 12px;color: rgb(62, 62, 62);font-family: Arial, Verdana, sans-serif;line-height: 2em;box-sizing: border-box !important;word-wrap: break-word !important;"><span style="max-width: 100%;font-size: 14px;box-sizing: border-box !important;word-wrap: break-word !important;">电子邮箱:sales@parts-ultrasound.com</span></p>
               
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