医药生物行业动态：关节续标执行在即，国产化加速在望

Investment Rating - The report maintains an "Outperform" rating for the industry [6]. Core Insights - The report highlights the ongoing shift in market share towards domestic companies in the orthopedic joint market, with significant participation from leading domestic firms such as Aikang, Chunli, and Weigao [2][3]. - The recent procurement results indicate a competitive landscape with a reduction in price disparities, enhancing market fairness and ensuring supply stability [2]. - The average price of selected products in the recent procurement has decreased by approximately 6% compared to the first round, reflecting a trend towards more competitive pricing [3]. Summary by Sections Market Dynamics - The recent procurement involved 54 companies with 167 products selected, showing a clear trend of market share moving towards domestic players, with foreign companies' combined market share dropping to 25.28% [2]. - The procurement process has been optimized, with the price difference between selected products narrowing from an average of 2.8 times to 1.1 times, indicating a more equitable competitive environment [2]. Procurement Details - The recent procurement saw participation from over 6,000 hospitals, with a reported demand of 580,000 sets, marking a 7.42% increase from the previous round [3]. - The procurement cycle has been extended from two years to three years, with results expected to be implemented nationwide in June 2024 [3]. Investment Recommendations - The report suggests focusing on leading domestic orthopedic companies, particularly Aikang Medical, Chunli Medical, and Weigao Orthopedics, as they are expected to benefit from the increased volume of joint products following the procurement [3].