A research report from China Galaxy Securities indicates that following an extended period of adjustment, the overall valuation of the pharmaceutical sector is currently on the low end, with under-allocated public offering positions. Looking ahead to 2025, policy support is anticipated to bolster the growth of commercial health insurance, thereby enhancing the payment landscape and significantly benefiting innovative pharmaceutical and medical device enterprises. It is anticipated that the pharmaceutical market will continue its recovery trajectory. Despite structural differences, the innovation drug industry chain, from the perspective of both short-term and medium- to long-term growth certainty, exhibits promising development prospects and warrants investors' close attention.