天风证券：脑机接口行业市场前景广阔 重点把握场景落地可能

Market Potential - The global market size for brain-computer interfaces (BCI) is projected to be between $70 billion and $200 billion annually from 2030 to 2040 according to a McKinsey report [1] - Encouraging policies are emerging to support the development of BCI technology, with applications in various fields such as medical rehabilitation, autonomous driving, and virtual reality [1] Policy Support - In January 2024, seven departments including the Ministry of Industry and Information Technology released implementation opinions to promote innovation in future industries, focusing on key technologies like brain-machine integration and brain-computing neural models [1] - The initiative aims to develop user-friendly and safe BCI products and encourages exploration in typical application areas [1] Research and Development - Research platforms are emphasizing the development of innovative neural technologies, including neuroimaging, neural computing software, and neuroelectronic technologies [1] - The focus is on major scientific issues related to brain disease diagnosis and rehabilitation, as well as key technology applications in intelligent decision-making and human-computer interaction [1] International Developments - Neuralink announced the recruitment for its first human clinical trial on September 19, 2023 [1] - BrainGate achieved a significant milestone in restoring speech for paralyzed individuals using implanted sensors [1] - Synchron completed patient enrollment for its brain-computer interface COMMAND trial on September 5, 2023 [1] - Mindmaze launched a highly sensitive controller, Izar, marking a breakthrough in care for hand movement disorders [1] Domestic Developments - Chengyitong joined a BCI industry alliance led by the China Academy of Information and Communications Technology on March 11, 2024 [2] - Xiangyu Medical successfully held a kickoff meeting for a national key R&D project focused on high-precision biological perception feedback manipulation technology on March 17, 2024 [2] - Sanbo Neuroscience is utilizing magnetoencephalography, scalp electroencephalography, and other techniques for diagnosing and monitoring neurological diseases like epilepsy and Parkinson's disease [2]