来源：风云IPO 境外销售收入占比近八成。 作者|卓玛 编辑|刘钦文 洗干净手，拿出胰岛素笔，换上新针头，排气，调好剂量，掀开衣服，用酒精棉球给腹部的一小块皮肤 消毒，用胰岛素笔注射药剂，处理针头。这一套流程是无数糖尿病患者在家给自己注射胰岛素的日常， 普昂（杭州）医疗科技股份有限公司（下称"普昂医疗"，874572.NQ）所生产的产品正在其中扮演着关 键角色。 普昂医疗是一家主营胰岛素笔针的公司，产品远销70多个国家或地区，客户包括美国沃尔玛和国内的大 型医药零售连锁企业益丰药房（603939.SH）。12月26日，该公司已通过北交所的上会审核"大考"。 从收入构成上看，普昂医疗的收入来源于糖尿病护理类产品、通用给药输注类产品、微创介入类产品和 其他四部分。 | | | | | | | | | -- 11-1 11/6 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 产品类型 | 2025年1-6月 | | 2024 年度 | | 2023 年度 | | 2022 年度 | | | | 金额 | 占比 | 金额 | 出出 | 金额 | ...

Core Viewpoint - The blood collection needle industry is experiencing steady growth driven by chronic disease management, home testing, and blood testing demands from medical institutions. The market is characterized by a dual-track development trend with stable hospital demand and rapid growth in home testing [6]. Industry Current Status - **Market Size and Growth**: The Chinese blood collection needle market has maintained robust growth, with a projected market size of USD 181.17 million in 2024, expected to reach USD 316.39 million by 2031, increasing its global market share from 10.83% to 15.38% [15]. - **Competitive Landscape**: The industry is fragmented with many small to medium enterprises dominating, while a few large companies hold significant brand influence. Domestic firms excel in cost control and production capacity but lag in high-end products and safety designs compared to international brands [6]. - **Technological Level and Product Structure**: The technology primarily focuses on standard and low-pain needles, with advancements in miniaturization and automation. However, high-end safety products still fall short of international standards [6]. - **Regulatory Environment**: Stricter regulations on disposable medical supplies are emerging, with requirements for NMPA registration, ISO certification, and environmental considerations becoming entry barriers for companies [6]. - **Downstream Customer Structure**: Hospitals and primary healthcare institutions are the main customers, emphasizing safety and consistency. The rapid growth of home testing users demands convenience and low pain, leading to diverse customer needs [6]. - **Supply Chain and Raw Material Status**: Key raw materials include medical-grade stainless steel, PP, and silicone. While domestic supply is sufficient for low-end materials, high-precision components still rely on imports, affecting production stability and cost control [6]. Development Trends - **Low Pain and Minimally Invasive Trends**: There is a growing demand for low-pain and minimally invasive designs, particularly for home testing and among vulnerable populations like children and the elderly. Innovations in needle tip technology are enhancing user comfort [9]. - **Automation and Safety Product Proliferation**: Safety needles with features like automatic retraction are becoming mainstream, driven by increased demand from healthcare institutions and regulatory support [9]. - **Home Testing and Health Management Market Expansion**: The market for home testing is rapidly growing, with blood collection needles being central to diabetes and chronic disease management. Integration with wearable devices and smart health solutions is anticipated [9]. - **High-End Product Technology Upgrades**: Companies are focusing on developing differentiated and high-end products, including smart blood collection devices with traceability and data management features, to meet the evolving needs of healthcare providers [9]. Future Outlook - The future of blood collection needles is expected to be more intelligent, safe, and personalized, aligning with the global healthcare system's emphasis on preventive medicine and home testing. The industry will likely see innovations in needle design and automation to enhance patient comfort and reduce infection risks [18][21]. - Regulatory trends will push for innovations in material selection and sterilization processes, with a growing emphasis on environmentally friendly practices [22]. - Competitive dynamics will shift towards technological innovation, product safety, and sustainability, with leading companies leveraging mergers and collaborations to enhance their market position [23].