Looking forward to 2023, "recession" is an unavoidable topic in the global semiconductor industry, but what is uncertain is the depth, breadth and length of this industry downturn.

Looking forward to 2023, "recession" is an unavoidable topic in the global semiconductor industry, but what is uncertain is the depth, breadth and length of this industry downturn. In this general environment, the international electronics business analyst team conducted trend analysis and market outlook around hot topics or fields such as Matter 1.0 standards, energy storage needs, solid-state batteries, automotive chips, automotive industry ecology, display industry, rehabilitation medicine, storage market, ChIPlet and semiconductors.

1, Matter 1.0 standard opens a new era of smart Internet of Things

In December 2019, the smart home open source standard Matter was jointly launched by Amazon, Apple, Google, Samsung SmartThings and ZigBee Alliance for the first time. The project aims to develop and promote a new connection protocol that is free of patent fees and integrates different components such as Zigbee, Thread, Bluetooth and Wi-Fi into an overall standard to simplify the development costs of smart home equipment manufacturers and improve compatibility between products.

Matter is an industry standard in the smart home field, and its ultimate goal is to achieve the "unification" of global smart home industry standards.

In May 2021, the Matter standard was officially launched by the CSA (Connectivity Standards Alliance) alliance. At that time, there were 170 participants. By 2022, there have been more than 220 participants.

In June 2021, at the Apple WWDC conference, Apple's smart home products and services have been upgraded, but they are still suspected of "squeezing out toothpaste". However, Apple announced that Apple will integrate Matter into Apple's smart home ecosystem and support Matter ecological products.

’s latest iOS 16.1 has become one of the first systems to support Matter devices.

On October 4, 2022, the CSA Connection Standards Alliance and its members officially released the Matter 1.0 standard.

is the main promoter of the Matter standard in the semiconductor industry chain . Its CEO Matt Johnson said: "By 2025, there will be 27 billion connected IoT devices in the world, which means that each person has about 3 to 4 devices."

Matter is not only born for smart homes, but may also become an IoT standard. The

Matter standard aims to clear the pipeline for intelligent connections in all scenarios. At the same time, it does not restrict which wireless communication technology manufacturers use. Manufacturers can choose any wireless communication technology according to their own needs, including Wi-Fi, Bluetooth, Zigbee, etc.

With the gradual popularization of 5G, the Internet of Everything has become a real possibility. Although Matter was originally born mainly for smart homes, open standards and extensive wireless protocol support may make it a standard for the Internet of Things.

2. The demand for portable energy storage is rising, and domestic chips are ushering in a new track.

Thanks to the promotion of the new energy economy, breakthroughs in battery technology, and the rise of outdoor entertainment activities such as camping due to the epidemic, the large-capacity portable energy storage power supply market has grown rapidly. In the past four years, the global portable energy storage market has grown 23 times; it is expected that the global portable energy storage equipment consumer market will reach tens of billions of dollars in 2023.

From a technical perspective, portable energy storage power supply is a small energy storage device with built-in lithium-ion battery, which is quite different from power bank and household energy storage. Compared with common power banks, portable energy storage products have larger charge capacity and output power (100kW-3,000kW) and more interfaces (including USB, AC, DC, Type-C, PD and other interfaces). They can output DC and AC simultaneously, and can also be equipped with solar panels for reverse charging outdoors. They can power mobile phones, computers, refrigerators, rice cookers and other digital devices and small household appliances. Compared with household energy storage with a power of 1kW-10kW, portable energy storage is smaller, plug-and-play, easy to use, has lower technical threshold, lower cost, and is more consumer-friendly.

Judging from the sales distribution, portable energy storage products in the United States and Japan account for more than 75% of the global market, while China is the main producer of portable energy storage, with product shipments accounting for more than 90% of global shipments. As a result, Chinese companies have become the beneficiaries of this market boom.In terms of

terminal brands, three local manufacturers, Huabao Xinneng, Zhenghao Technology and Delan Minghai, have successfully ranked among the top four in the mainland Chinese market; established battery power supply companies such as Bull and Tiger Head, and leading brands in the digital 3C field such as Anke Innovation, Baseus Technology and Romans Technology are also launching outdoor power products. In addition, IoT companies are also "cross-border disruptors", such as Huawei , Uniview Technology, Xiaomi , Tuya Smart , etc. have also released new products, attracting great attention from the consumer market. At the

chip design level, portable energy storage is mainly developed around the two major demands of safety, reliability and system modularity. In 2022, manufacturers such as National Technology and Chipsea Technology in the field of MCU will launch MCU main control modules for outdoor power supplies; in the field of power supply, manufacturers such as Nanxin, Silicon Power, Jiehuat, Zhirong, Baoli Micro, Silan Micro, Yingjixin, Weipu, and Silicon Power will launch chip solutions, providing diversified options for outdoor power supply manufacturers to develop USB PD fast charging products. International electronics business forecasts that in 2023, more domestic chip manufacturers will pay attention to and deploy this application, so as to start with outdoor mobile energy storage with a lower threshold and then expand to comprehensive energy storage applications.

3, solid-state batteries may usher in the first year of explosion

According to the power battery development plan of "Made in China 2025": in 2020, the battery energy density will reach 300Wh/kg; in 2025, the battery energy density will reach 400Wh/kg; in 2030, the battery energy density will reach 500Wh/kg.

In fact, in September 2022, China's pure electric passenger car system density was between 140 (inclusive) and 160Wh/kg, and the output of models above 160Wh/kg accounted for 38.5% and 23.4% respectively, and the output of models below 125Wh/kg accounted for 13.6%.

Obviously, relying on the existing power battery system, the battery energy density is difficult to meet the requirements of relevant national regulations. International electronics business analysis points out that if solid-state batteries can take advantage of and strengthen safety, strive to take advantage of energy density, and further optimize rate, cycle life and processability, they will become a key technology route to replace existing lithium batteries.

In January 2022, Dongfeng-Ganfeng’s high-specific-energy solid-state battery (actually semi-solid) E70 demonstration operating vehicle completed batch delivery. Since then, Chinese car companies such as SAIC Zhiji, GAC Eon, and Gaohe have actively cooperated and formed joint ventures with solid-state battery manufacturers to jointly promote the process of putting solid-state batteries into cars.

is not only a vehicle manufacturing company, but also as the popularity of the solid-state battery industry continues to rise, China's mainstream power battery suppliers are also actively deploying. For example, in April 2021, Honeycomb Energy signed a strategic cooperation agreement with Ma'anshan City, Anhui Province, and will invest in the construction of a power battery cell and PACK production and R&D base, with a planned annual production capacity of 28GWh. In August 2022, the company's all-solid-state battery laboratory developed the first domestic 20Ah-class sulfur-based all-solid-state prototype batteries.

In May 2022, Fengli New Energy, a subsidiary of Ganfeng Lithium , publicly stated that its planned 2 GWh first-generation solid-state battery production capacity is expected to be gradually released this year. In July, it officially announced that the Chongqing Lithium Battery Industrial Park has officially started construction and plans to build 10GWh of solid-state battery production capacity. In August 2022, Guoxuan Hi-Tech stated that the high-safety semi-solid-state battery has a single energy density of 360Wh/kg, a battery pack capacity of 160kWh for supporting models, and a cruising range of more than 1,000km. The semi-solid-state battery is expected to be installed on vehicles by the end of this year and will be delivered in batches in 2023. In addition, power battery leader CATL publicly stated in October 2022 that it is currently promoting the layout of all-solid-state and other battery technologies.

In terms of solid-state battery materials, on April 26, 2022, Rongbai Technology, the leader in high-nickel cathode materials, announced that it would carry out in-depth cooperation with Weilan New Energy in the fields of full and semi-solid-state batteries and materials. In July, Shanshan Co., Ltd., an anode material supplier, said that it would start the research and development of lithium cobalt oxide cathode materials for all-solid-state batteries and gradually conduct a comprehensive layout of all-solid-state battery materials. It also focused on the research and development of semi-solid and all-solid battery electrolytes.

With the maturity of solid-state battery technology and the continuous decline of costs, as well as the gradual release of early investment production capacity, solid-state batteries will usher in larger-scale commercial use in 2023.According to market forecasts, the global demand for solid-state lithium batteries will reach 44.2GWh and 494.9GWh in 2025 and 2030 respectively. By 2030, the market scale and output value will climb to more than 150 billion yuan.

4, Global automotive-grade chips have entered a structural shortage stage

Looking back at the global semiconductor shortage, initially in the second half of 2020, news of a shortage of 8-inch wafer production capacity was reported in the industry, and then in 2021, semiconductor chip shortages swept the global market. Although some wafer factories have been renovated/expanded since 2021, and some new 8-inch wafer production lines have even been built, these production lines are mainly used to produce mature process products, such as automotive chips, power chips, etc.

Although automotive chip production capacity has been extremely scarce in recent years, the mainstream view in the industry is that there will still be a structural shortage of automotive chips by 2023. But 8-inch wafers are not advanced production lines after all. Previously, global fabs were gradually phasing out 8-inch wafer production lines. Therefore, even though automotive chip production capacity has been very scarce in the past two years, wafer factories are still slightly cautious about the expansion of 8-inch wafer production lines.

International Electronics Business Statistics: The number of 8-inch wafer fabs in the world can be seen. The global 8-inch wafer production capacity will reach 215 in 2023 (an increase of 4 from 2021), and 3 more will be added in 2025 based on 2023. In terms of 8-inch wafer production capacity, it is expected that the production capacity in 2025 will increase by 20% compared with 2021.

In addition, there will be overcapacity in consumer electronics chips in 2022. At least in terms of wafer materials, consumer electronics will no longer compete with automotive electronics to compete for semiconductor production capacity like in 2021. At the same time, it takes a certain period of time to transform, expand and build new 8-inch production lines. The factory construction period is about one and a half to two years (the period for reconstruction and expansion of production lines is shorter), plus the production capacity ramping cycle. By the end of 2022, only a small number of production lines will be put into mass production. In 2023 and the following years, more new production capacity will be reached. In addition, China has gradually relaxed its epidemic prevention policies, and as cargo transportation, customs clearance, and corporate work efficiency will return to pre-epidemic levels.

Based on the above factors, the international electronics business forecasts that the tightness of automotive chip production capacity will further ease throughout 2023. However, as the demand for new energy vehicles has strengthened in recent years, the demand for automotive chips has also continued to increase. Automotive chip production capacity will enter a structural shortage stage throughout 2023, and this situation may continue for several years.

5. Changes in the leadership of the automotive industry ecosystem

Since the birth of the automotive industry, vehicle companies have been the leaders of the automotive industry chain. They maintain large-scale production and sales models, have absolute voice and bargaining power, and are the core of the ecosystem. However, as technologies such as new energy and autonomous driving mature and the demand for intelligence grows, new suppliers begin to emerge and new supply relationships begin to form.

From the perspective of consumers, thanks to the blessing of technologies such as autonomous driving and the Internet of Things, cars will become a new species. They will transform from mere transportation tools into the most important mobile intelligent space in human life in the future, which needs to meet personalized consumption and travel services. However, the technologies required for mobile smart space are diverse and the industries involved are multi-faceted. No one company can own all the resources, including vehicle companies.

From the perspective of industrial development, when automobiles enter the era of electrification, intelligence and networking, they must transform from hardware-led in the past to software-led, effective integrated development of software and hardware. Of course, vehicle companies are representatives of hardware levels, while software levels are the strengths of supply chain service providers, omni-channel service providers, comprehensive service providers and other enterprises.

Therefore, the automobile industry has entered a new, ecology-led era. It has changed from the original simple upstream supplier, intermediate vehicle manufacturer, and downstream dealer model to a three-dimensional ecosystem in which the energy industry, transportation industry, urban planners, and all service providers and content providers in hardware and software can participate.

Entering 2023, changes in the ecological leadership of the automotive industry will continue to take place. The following three types of players may become the new “leaders” of the automotive industry ecosystem.

The first category is a smart car solution provider, represented by Huawei.Huawei currently has three ways of cooperation with car companies: the first is the pure supplier model, which provides standardized components to car manufacturers; the second is the software system cooperation model (Hi mode), which provides automakers with systems such as autonomous driving and smart cockpits; the third is the smart selection model, in which Huawei is deeply involved in the overall vehicle design, including vehicle sales. Under these three models, there are both leading domestic companies participating and cooperation with major global automobile brands. This shows that automobile manufacturers have taken a fancy to Huawei's excellent ICT technology, and more and more automobile manufacturers will join Huawei's "5G automobile ecosystem."

The second category is EV car brands. In 2023, as more and more major traditional automobile manufacturers announce plans to stop selling fuel vehicles and switch to electric vehicles, the voice of EV car brands will continue to increase. It is expected that EV manufacturers will continue to focus on range anxiety in technological innovation next year, and battery replacement applications will become more mature. The penetration rate of domestic new energy vehicles continues to rise, and is expected to reach 50%. However, due to the increase in the price of raw materials for power batteries and the gradual decline of relevant policy subsidies, the combined price of new energy vehicles will increase.

The third category is cross-border Internet companies, such as Baidu and Xiaomi. "Cross-border car manufacturing" has always attracted the attention of the industry, and Xiaomi Automobile has attracted a lot of attention. There are rumors in the industry that Xiaomi will obtain car manufacturing qualifications in mid-2023. Cross-border players are coming fiercely, mainly relying on the two major advantages of brand effectiveness and customer stickiness. Supply chain management and product pricing may determine the future direction.

6. The display industry continues to decline, but it is expected to stop the decline

From mid-2020 to mid-2021, the market value of the display industry hit a record high. Affected by factors such as the epidemic, social digital transformation, and supply chain uncertainty, LCD panel prices have soared at the fastest rate in history. But after entering the autumn of 2021, LCD panels have entered a rapid price decline channel. The display industry entered a period of comprehensive and rapid decline before the semiconductor industry.

In 2022, the revenue of major FPD panel manufacturers has fallen by double digits in several quarters - Q3 of 2022 has become the worst quarter in the history of LCD panel manufacturers; the gross profit margin of the entire industry fell by 6%-12% compared to in the quarter, and fell by 22%-34% compared to Q2 in 2021.

From the perspective of operating profit margin, except for panel factories such as and Samsung that have stopped LCD production, the figures of other major panel factories are experiencing sharp declines.

From the perspective of gross profit figures, AU Optronics, Rainbow Optoelectronics, and Hui Optoelectronics , Innolux , Visionox all gave negative values ​​in the third quarter of 2022; BOE and LG Display reported positive values, but the month-on-month declines exceeded 80%.

At the same time, even though panel factories are currently significantly reducing production utilization, the inventory pressure on panels in multiple links is still very high. As of the fourth quarter of 2022, panel inventory levels are nearly US$6 billion more than two years ago, and about 10 days more inventory than a year ago. It is still difficult to alleviate the problem of low panel prices in the short term.

The performance of OLED, which has high hopes of rescuing the market, is also unsatisfactory. Analysts had generally predicted that due to the widespread adoption of OLED panels in electronic products such as IT equipment (laptops, tablets, and monitors), automobiles, and AR/VR headsets, even if smartphone shipments fell sharply, OLED panels were still expected to see a steady increase in annual revenue; but the actual situation is that the answers given by the OLED market from Q2 to Q3 in 2022 are not optimistic.

International Electronics Business Intelligence predicts that Q4 of 2022 will reach the lowest point of this downward trend in the display industry. In 2023, the CapEx fixed cost investment of panel manufacturers and upstream suppliers will decrease, and the industry will show signs of stopping the decline and stabilizing . The products that the

application is expected to expand shipments include AR/VR, automobiles, smart watches, electronic signage and signage. Although the shipment volume of the IT equipment market continues to decline, the display area is increasing. But from a revenue perspective, it is expected that the display industry will return to the market level in 2021 in 2025-2026.

7. The storage market is cold, and advanced technology continues to advance.

Comprehensive data from the international electronics business shows that the global semiconductor market will reach approximately US$560 billion in 2023, with a shrinkage of more than 4%.Among them, the largest decline is memory chip , which accounts for more than 20%, and will experience a 17% decline.

With rising inflation and weak terminal market demand, especially the decline in demand for PC and mobile phone terminal products affected by consumer spending, the growth expectations of the consumer storage market have been lowered. In addition, technology giants such as Microsoft and Amazon have reduced their investment in data centers, which will put downward pressure on the commercial storage market. Therefore, starting from the third quarter, major memory chip manufacturers including SK Hynix, Micron Technology, and Kioxia have successively announced cuts in capital expenditures or chip production.

Although the consumer storage market will be cold, the market demand in automotive and other application fields is strong. With the substantial growth in sales of new energy vehicles, the amount of storage products required for bicycles will increase significantly, especially after the introduction of other smart technologies such as ADAS and autonomous driving.

is different from the "unequal hot and cold" that appears in various storage markets. In terms of technological progress, major storage manufacturers have been continuing to try and make breakthroughs.

For example, in the field of DRAM, Micron fifth-generation 10nm-level DRAM product (1β DRAM) has sent samples to partners for verification. Once the product matures, it will be launched into mobile phones, computers, servers, automobiles and other markets. According to the plan, Samsung will enter the 1bnm process stage in 2023, that is, the fifth generation of 10nm-level DRAM products. The chip capacity will reach 24Gb (3GB)-32Gb (4GB), and the native speed will be 6.4-7.2Gbps.

In the field of NAND Flash, Micron's world's first 232-layer NAND product has been put into mass production and is being supplied to global PC OEM customers; SK Hynix's 238-layer 512Gb TLC 4D NAND flash memory is expected to be put into mass production in the first half of 2023. Samsung’s plans are even bolder, claiming it will achieve 1,000-layer V-NAND by 2030.

8, Chiplet concepts continue to be popular, but they cannot solve the stuck neck problem

In March 2022, Intel, AMD, Arm, Qualcomm, TSMC, Samsung, ASE, Google Cloud, Meta, and Microsoft jointly established the Universal Chiplet Interconnect (UCIe) Alliance and launched the UCIe 1.0 specification. UCIe is an open chiplet interconnection specification that defines the interconnection between chiplets within a package to achieve universal interconnection of chiplets at the package level and an open chiplet ecosystem.

Chiplet can divide a large monolithic chip into multiple small chips, and integrate modular chips with different processes or functions by packaging and interconnection across chips, thus ultimately forming a system chip. This can bring three advantages:

• first, improve chip yield. Once a defect occurs on a large-size die, it will directly cause the entire large chip to be scrapped. However, if the chip is divided into several small chips, even if one of the small chips fails, it will not affect the other small chips.
• Second, reduce the demand for advanced manufacturing processes. A large chip contains multiple modules. The computing unit's pursuit of performance requires the most advanced manufacturing processes. The remaining storage, simulation, radio frequency and other modules do not require advanced manufacturing processes. Chiplets can integrate modules of different process nodes, which greatly reduces waste. It not only reduces power consumption, but also significantly improves chip performance.
• Third, IP reuse. Each chip can be regarded as an IP. Benefiting from interconnection technology, Fabless only needs to purchase the corresponding IP to complete the plug-and-play of semiconductors.

Based on the above characteristics, Chiplet is particularly suitable for high computing power chips such as autonomous driving chips and data center server chips. International Electronic Business Intelligence believes that once Chiplet technology matures, a large number of related chips will appear in the industry. Observing its global market size, the current market size of Chiplets is still small, but its market size is growing rapidly. It is expected to reach nearly US$6 billion in 2024, and its scale will exceed US$55 billion by 2035.

Chiplet has also attracted the attention of semiconductor companies in China. In the second half of 2022, the 3D stacking + chiplet concept has become popular in China, and companies such as VeriSilicon, HiSilicon , Cambrian, Innosilicon, Alibaba, and Xinlai Technology are also deploying chiplets. However, chiplet technology relies on multi-dimensional cooperation from IP manufacturers, chip design manufacturers, manufacturing, packaging and testing manufacturers, etc., and also requires simultaneous advancement in the protocol and transport layers.It is worth noting that the core computing die part inside the chiplet still needs the support of advanced technology, which also requires local chip manufacturing capabilities to keep up.

9. China's semiconductors may experience a small-scale rebound at the end of 2023.

The new crown epidemic, the Russia-Ukraine conflict, rising inflation, tightening monetary policy... Since 2020, multiple unfavorable factors have superimposed on each other and triggered a comprehensive recession of the world economy. As one of the weather vanes reflecting the global economy , the semiconductor industry is likely to be trapped in the predicament of lack of macroeconomic fundamentals support for a long time in the future. Comprehensive data from

International Electronic Business Information shows that the global semiconductor market will reach approximately US$560 billion in 2023, with a shrinkage of more than 4%. Among them, the shrinkage of the semiconductor market is mainly concentrated in the Asia-Pacific region, and the market size in other regions is expected to be relatively stable.

Industry expert analysis pointed out that in 2023, the global semiconductor industry will still face a "demand innovation dilemma" that continues to be sluggish. Incremental innovation based on markets such as PCs, mobile phones, and consumer electronics has entered a period of decline, and the incremental space has narrowed significantly. Next-generation phenomenon-level markets such as mobile phones and PCs that can support rapid iterative upgrades of semiconductor technology have not yet matured and fully exploded, and there has been a "disruption" in innovation demand on the market side. However, the current structural technological changes are still mainly at the engineering level, and there has not been a major basic technological revolution that can expand the overall economic space in the short term. Therefore, horizontal competition will be closer to zero-sum game . Investment in technological innovation follows the law of diminishing marginal returns, and the high-cost investment in advanced technology in some countries will gradually slow down.

On the other hand, the competition in the semiconductor field between China and the United States in 2023 is expected to usher in a short strategic buffer period. However, as the U.S. election approaches in 2024, the United States will still intermittently unite with its allies to escalate suppression and containment of China’s semiconductor industry on national security grounds. In addition to supply chain links such as key semiconductor equipment, basic industrial materials and components, it may also involve wider areas such as new energy vehicles and new digital infrastructure. In the short term, the high-end upgrading of China's semiconductor industry will face a more serious "stuck neck" dilemma.

Therefore, overall, the domestic semiconductor market will still be under great pressure in the first half of 2023. By the end of 2023, China is expected to benefit from the significant weakening of the impact of the epidemic, the phased recovery of consumer confidence, and the completion of the destocking of and . It will usher in a small-scale rebound, and the market conditions in industry chain links such as chip design and packaging testing, mobile phones, consumer electronics, industrial semiconductors, data centers and other application fields will gradually recover for the better.

10. The application of innovative technologies in rehabilitation medicine welcomes the "letting of a hundred flowers blooming"

As China continues to age, the number of patients with chronic diseases is increasing, and the demand for rehabilitation medicine is also expanding. International electronic business forecasts predict that China's rehabilitation medical services market will exceed 200 billion yuan in 2025.

In order to actively respond to the aging of the population and better meet the medical security needs of the elderly, China has continued to promote the integration of medical care and initiatives at the national level in recent years to optimize the supply of elderly health and elderly care services; at the same time, medical institutions and enterprises are also actively developing application layouts. For example, as of early November 2022, the intuitive medical da Vinci surgical system has assisted surgeons around the world in completing more than 10 million operations, and more than 300 da Vinci surgical systems have been installed in China, benefiting more than 366,000 domestic patients.

According to International Electronics Business Information, the intuitive Fosun medical robot project is actively being promoted in Shanghai. The project is expected to be completed in 2025 and reach production in 2026. The project focuses on localized R&D and production of cutting-edge medical equipment including the da Vinci surgical robot . In addition, as the first batch of patent protection for the da Vinci surgical robot expires one after another, not only medical device giants such as Medtronic, Johnson & Johnson, and Siemens are competing to enter the market, but many local companies have recently joined the track. For consumer groups, these are undoubtedly good things.

According to statistics from the China Disabled Persons' Federation, there are 24.72 million people with physical disabilities in China, nearly 18 million people with visual impairments, and 27.8 million people with hearing disabilities.According to incomplete statistics, the prevalence rate of Alzheimer's disease in my country is 6%, the prevalence rate of depression and anxiety disorders is close to 7%, and there are more than 10 million patients with other neurological diseases, and they are growing rapidly with the increase of aging. Therefore, it is predicted that neural remodeling, neural replacement, and neuromodulation brain-computer interface technologies will have a market space of tens of trillions.

brain-computer interface (Brain-computer interface, BCI) refers to the use of signals generated by the central nervous system to directly convert the user or subject's sensory perception , representation, cognition and thinking into actions without relying on peripheral nerves or muscles, and establish a direct communication and control channel between the brain (including human and animal brains) and external devices. Its purpose is mainly to provide disease patients, disabled people and healthy individuals with optional ways to communicate and control the external world to improve or further enhance their quality of life.

With the development of various technologies and the growing demand for rehabilitation medicine, the industry is also making more attempts and explorations. For example, the combination of computer technology with VR/AR, AI and other technologies has made telemedicine continue to mature; the application of capsule robots using advanced image acquisition technology and radio frequency wireless transmission technology has made the treatment effect more precise and effective; there are even many innovative therapies such as gene therapy, CD20 targeted therapy, and PARP inhibitors. The maturity and application of these rehabilitation medical technologies continue to benefit all mankind.

Editor: Clover.li