医药行业周报（25/12/8-25/12/12）：掘金百亿胶原蛋白市场，建议关注佰仁医疗-20251214

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4] Core Viewpoints - The report emphasizes the potential of the collagen market, particularly animal-derived collagen, and suggests focusing on BaiRen Medical as a key investment opportunity. The market for animal-derived collagen in functional skincare and medical dressings is projected to reach a combined scale of 24.3 billion by 2027 [5][13] - The report highlights the ongoing transformation in the Chinese pharmaceutical industry, with a shift from generic to innovative drugs, and the increasing importance of overseas markets and aging population consumption [5][37] Summary by Sections 1. BaiRen Medical's Animal-Derived Collagen Approval - BaiRen Medical has received approval for its animal-derived collagen implant, which is expected to significantly contribute to the collagen market. The product is designed to improve facial smoothness and has shown an improvement rate of 84.23% in clinical trials [15][17] - The domestic market for animal-derived collagen is expected to grow substantially, with projections of 13 billion for functional skincare and 11.3 billion for medical dressings by 2027 [13][17] 2. Industry Perspective - The pharmaceutical index has shown a decline of 1.04% from December 8 to December 12, with a year-to-date increase of 14.65%. The report notes that the innovative drug sector remains a key focus for investment, with several companies expected to perform well in the upcoming quarters [5][22] - The report identifies several companies to watch, including XinLiTai, SanSheng Pharmaceutical, and BaiRen Medical, among others, as they are positioned to benefit from the ongoing industry trends [5][41]