In the past decade, the US stock market has produced a total of 14 medical stocks with a market value of over 10 billion US dollars, of which 8 are medical devices, 3 are innovative drugs, and 3 are medical services. This indicates that medical device companies have high growth potential. The average research and development cycle of innovative drugs is 10 years, with a research and development cost of over $1 billion and a success rate of about 10%. In addition, innovative drugs have a patent protection period of about 10 years after their launch, and after expiration, they become a "patent cliff" due to a significant decrease in sales of original research drugs caused by generic drugs. Compared with drugs, medical devices have a shorter R&D cycle (it takes about three to five years from R&D to approval for listing), less investment, and faster returns. At the same time, due to the brand, doctors' use habits, etc., the product's substitutability is weak, the Product lifecycle is longer, and when patents expire, there will be no competitors to quickly encroach on the market, and the investment risk is lower. This is also the reason why the number of medical device enterprises listed in the A-share market has become higher and higher in recent years.