"目前，DeepSeek等开源模型推动私有化部署成本下降，解决医疗数据敏感性问题，超百家三级医院已 完成本地化部署。生成式AI在医学问答测试中的表现超越人类专家（如GPT-4、Med-PaLM），其在病 历生成、辅助诊断场景的效率优势已被验证。AI医疗已成为大模型最不愿错过的应用场景。"有券商医 药行业分析师指出，人口老龄化的加剧与优质医疗资源的供不应求（三级医院仅占7.8%的比例却需承 担50%的门诊量）构成了巨大的需求缺口，为技术革新与替代开辟了广阔的发展天地。 近日，上海交通大学医学院附属瑞金医院联合华为发布RuiPath病理模型最新开源成果。公开信息显 示，RuiPath病理大模型是瑞金医院携手华为开发的临床级多模态病理大模型，于今年2月发布，涵盖泛 癌种视觉特征提取、视觉—语言跨层表征对齐等能力，用于全流程临床病理辅助诊断，目前已覆盖我国 每年全癌种发病人数90%的19个常见癌种，涵盖上百个辅助诊断任务。 互联网巨头纷纷押注的背后，是AI医疗市场的巨大潜力。智研咨询数据显示，2024年我国AI医疗器械 市场规模已从2020年的2.92亿元增长到94.61亿元。随着技术的飞速进步和市场需求的牵引，国内 ...

流动性方面，港股互联网ETF盘中换手12.93%，成交4166.97万元，市场交投活跃。拉长时间看，截至7月1日，港股互联网ETF近1年日均成交1.73亿元。 国内外科技互联网公司积极布局医疗行业。国内公司：京东，2023年7月京东健康发布自研医疗模型"京医千询"。截至2025年第一季度，京东健康即时零售 已与全国超15万家药店门店建立合作。字节跳动，2020年通过收购医学科普平台"百科名医网"、互联网医疗公司幺零贰四进入医疗行业，并布局AI+生命科 学上游技术，组建AIDD（人工智能赋能药物研发）部门。腾讯：推出"腾讯觅影"AI影像平台，用于肺炎、肺癌、眼底等疾病的早期筛查；开发"AI辅助诊断 系统"，提升医生诊断效率。推出人工智能药物发现平台"云深智药"，利用人工智能技术加速新药研发。海外公司：谷歌，2024年11月11日宣布开源AI蛋白 质结构预测工具AlphaFold3的源代码和模型权重。英伟达，2024年11月19日宣布开源AI制药框架BioNeMo，超200家药企采用。微软，2025年3月4日发布医 疗界首个用于临床工作流程的AI助手Microsoft Dragon Copilot。 截至7月1日 ...

Investment Rating - The industry investment rating is "Leading the Market" which indicates a projected outperformance of over 10% relative to the benchmark index in the next 6-12 months [2][8]. Core Insights - The report highlights the gradual integration of the C-end AI medical applications industry ecosystem, driven by technological advancements and policy guidance [5]. - The AI+medical market in China is expected to grow from 8.8 billion yuan in 2023 to 315.7 billion yuan by 2033, with a compound annual growth rate (CAGR) of 43.1% over the next decade [5]. - The report emphasizes the increasing number of AI applications in the medical field, with 101 models and algorithms registered by the end of 2024, covering various areas such as consultation dialogues (48%), health assessments (24%), and diagnostic assistance (5%) [5]. - Major domestic and international tech companies are actively entering the medical sector, with notable developments from companies like JD Health, ByteDance, Tencent, Google, and Microsoft [5]. Summary by Sections Industry Performance - The report provides a performance overview indicating relative returns of 5.83% over 1 month, 6.73% over 3 months, and 38.04% over 12 months, alongside absolute returns of 8.32%, 7.98%, and 51.74% respectively [4]. Related Reports - The report references several related analyses on the media sector, including developments in AI smart glasses and the impact of domestic video generation models on industry growth [5]. Investment Recommendations - The report suggests focusing on companies such as Alibaba-W, Tencent Holdings, JD Health, Meituan-W, and Waterdrop, as they leverage technological and data advantages to drive industry growth [5].

Core Viewpoint - The article discusses how major technology companies in China, such as Tencent, Baidu, and Alibaba, are shifting from a profit-centric model to a socially responsible approach, leveraging artificial intelligence (AI) to enhance public services and address societal needs [3][4]. Group 1: Company Initiatives - Tencent is focusing on digital healthcare by developing an "AI Family Doctor" system that emphasizes preventive care and early diagnosis, thereby reinforcing its strategic position in the national health system [5]. - Baidu's "Wenxin Yiyuan" is emerging as a tool for emotional support, particularly for the youth facing psychological pressures, enhancing interaction and safety in mental health scenarios [6]. - Alibaba Cloud is applying AI in emergency management and ecological monitoring, significantly reducing service costs and contributing to the development of resilient public service infrastructure [8]. Group 2: Systemic Trends - The actions of these companies reflect a broader trend in China's public service strategy, with AI tools becoming essential components of social resilience since the COVID-19 pandemic [9]. - The mental health market in China is projected to grow from $550 million in 2024 to $4.23 billion by 2035, indicating a strong demand for psychological services and support [9]. Group 3: Challenges and Ethical Considerations - Key challenges include ensuring the reliability of AI technologies, addressing disparities in access to services, and maintaining privacy and regulatory standards in the use of health data [10]. - The optimal role of AI is seen as augmenting human capabilities rather than replacing them, emphasizing the importance of human oversight in high-risk scenarios [10]. Group 4: Conclusion - Tencent, Baidu, and Alibaba are shaping a new governance paradigm by integrating AI into social service structures, fostering a collaborative mechanism involving government guidance, corporate participation, and technological innovation [11].

AI+医疗：从蚂蚁 AQ 看产业发展 20260629 摘要 蚂蚁集团推出独立 AI 健康应用"AQ"，源于支付宝平台在医疗支付和数 字化赋能的积累，以及 AI 健康管家小程序超过 7,000 万的用户基础， 旨在抓住健康赛道的巨大潜力。 "AQ"整合了全国超 5,000 家医院、近百万医生及 200 多位三甲专家资 源，以 AI 为主导、专家为辅，提供在线问诊，旨在缓解医疗资源不均和 看病难问题。AI 在诊前可高效整理病历信息，缩短问诊时间，提升就诊 效率。 医疗 AI 商业化主要体现在医生辅助和高效信息助手，尤其在诊前信息整 理和常见病辅助诊断方面。对于专科病和复杂病，AI 提供评估方案辅助 医生决策，但最终诊断仍由医生决定。 医院对数据安全和隐私保护高度敏感，倾向于私有化部署 AI 服务，导致 对集成 GPU 的 DeepSeeker 一体机需求旺盛，订单金额从几十万到几 千万不等，成为产业商业化收入的重要来源。 医疗 AI 领域倾向于通用大模型与垂类大模型混合架构，以适应细分专业 化医疗需求。关键在于结合特定数据特征、专业医生和专家的数据标注 经验，提升 AI 诊疗质量。 Q&A 蚂蚁集团近期推出的独 ...

今天分享的是：2025年易凯资本中国健康产业白皮书-医疗与健康服务篇-易凯资本 报告共计：29页 《2025年易凯资本中国健康产业白皮书-医疗与健康服务篇》显示，2024年中国医疗服务市场规模超10万亿元，老龄化（65岁 以上人口占比15.6%）驱动慢性病管理、康复护理等需求增长，低生育率导致产科、儿科承压，但辅助生殖因政策支持（31省 份纳入医保）加速渗透。医保集采、医疗反腐与三明医改经验推广（如年薪制、DRG付费）倒逼行业转型，推动医院从"以药 养医"转向服务价值提升，同时促进医疗资源下沉与县域医共体建设。科技与医疗深度融合，AI大模型（如商汤"大医"、腾讯 觅影）覆盖诊疗全流程，手术机器人、康复机器人等加速落地，提升诊疗效率与精准度。 资本市场方面，A股医疗服务板块全年震荡，港股因上市机制灵活成为重要出口（如一脉阳光、明基医院赴港上市），一级 市场并购交易活跃（29起，总额63亿元），聚焦消费医疗（医美、眼科、口腔）与严肃医疗（肿瘤、康复）领域。投资主题 围绕老龄化展开，特医食品（2024年市场规模234亿元）、慢病管理（患者超4.6亿）、康复医疗（市场规模超7000亿元）及 失能照护（床位缺口超600 ...