医疗影像是中国医疗器械规模最大的细分市场，从产业链上看，越往上游国产化能力越弱。政策和需求不断推进中国医疗影像市场发展，而国产医疗影像设备技术成熟度主要分布于成长期，DR、超声、CT国产化程度较高，但大部分核心部件和高端设备主机制造仍依赖海外，而在信号链和传感器领域几乎还由国际龙头控制。 ◆ 第一，对中国医疗影像市场整体情况进行分析，从历史和宏观角度总结中国医疗影像目前所处的发展阶段；◆ 第二，从下-中-上游角度拆分中国医疗影像产业链，并对每一个环节进行深入分析，其中中游的主机设备和核心部件、上游原材料和电路是国产医疗影像突破的重点领域，也是本报告的重点；◆ 第三，针对个别领域进行典型公司案例研究，对其解决方案进行剖析。为达到研究目的，本次研究主要使用两种研究方法来进行： ◆ 第一，亿欧智库将基于自身对行业长期观察获得的行业知识，通过桌面研究（Desk Research）的方式，对医疗影像上中下游多家上市公司和龙头企业做深度分析与总结，形成本报告的基础观点；◆ 第二，亿欧智库通过对医疗影像主机制造商、信号链芯片方案服务商的多位专家进行深度访谈（Experts IDI），充分听取行业专家见解，形成客观、有深度的研究观点。通过本次研究，亿欧智库主要得出了以下几个结论： ◆ 国产医疗影像技术多数仍在成长期，但中国医疗影像市场广阔，全产业链未来有较大发展潜力。医疗影像产业链可细分为六个环节，分别为原料生产、零部件生产、核心组件制造、主机制造、系统集成和医院，其中原材料和零部件属于上游，核心组件和主机属于中游，系统集成和医院属于下游。◆ 下游医院分布构成中国医疗影像市场下游基本面，高级医院需求大、基数小、配备程度高，基层医院需求小、基数大、潜力大；人口老龄化、低渗透以及分级诊疗政策长期利好中国医疗影像市场；随着人工智能技术的发展，部分AI创业公司主要在下游影像辅助诊疗环节集中落地。◆ 中游影像设备是产业链主体，六大类成像原理诞生多种主流细分设备市场，主要包含CT、DR、DSA、PET、MRI和超声；目前DR、超声、CT国产发展较好，MRI也逐步获得突破，但大部分设备的核心组件仍然依赖海外市场；从技术上看，医疗影像主机总体向更清晰、更快速、更安全、更便携、更智能五大趋势共进发展；从政策上看，特别审批通道鼓励本土企业创新，国产替代走向正轨。◆ 医疗影像上游原材料种类众多，电子元器件、传感元件及材料、结构件为核心组件；医疗影像主机五大趋势向上游传导，倒逼上游信号链及传感元件等升级，其中信号链升级在产业链发展趋势中作用明显，其主要向降低功耗、提高速率、提高成像质量、提高集成度四大方向发展。EO Intelligence 4In the study, we mainly reached the following conclusions:◆Though the technologies are still in the growing stage, China's medical image industry has a broad market scale and great potential. The industrial chain generally consists of six segments: raw material and parts production for the upstream, core components and mainframe manufacturing for the midstream, system integration and hospital for the downstream. ◆The distribution of hospitals constitutes the downstream fundamentals of China's medical image market, with large demand and small base for senior hospitals, small demand and large base for primary hospitals. The market has long been benefited from the aging of the population, low penetration and the hierarchical diagnosis and treatment policies. Meanwhile, the development of AI technology has been a catalyst for AI start-ups that focus on the image assisted diagnosis and treatment, thus may develop a new market in the downstream.◆Image equipment in midstream is the main component of the industrial chain. The mainstream of equipment is based on the six imaging principles, including CT, DR, DSA, PET, MRI and ultrasound. At present, DR, ultrasound and CT are well developed in China. MRI has gradually achieved breakthroughs, but most of the core components are still imported. In terms of technology, the medical image mainframe is developing towards clearer, faster, safer, more portable and more intelligent. In terms of policies, the special approval channel encourages innovation of local enterprises and accelerates domestic substitution.◆Upstream manufacturing includes multiple kinds of raw materials, in which electronic components, sensors, and structural parts are the core components. Influenced by the five major trends of mainframe development, upstream signal chain and sensors are in need of upgrading. Signal chain upgrading plays an important role in the industrial chain development, it is moving towards reducing power and time consumption and improving image quality and level of integration.
