医药生物行业：《神经系统医疗服务价格项目立项指南》为脑机接口技术的临床应用以及商业化奠定发展基石

Investment Rating - Industry investment rating is maintained at "Overweight" [2] Core Insights - The report highlights the government's support for innovative drug development, as indicated by the mention of an "Innovative Drug Catalog" in the 2025 government work report [4] - The release of clinical trial design guidelines for new drugs targeting late-stage gastric cancer is expected to accelerate the development of precision medicine [4] - The integration of payment and supply-side initiatives, such as the expansion of the medical insurance wallet, is aimed at promoting biopharmaceutical innovation [4] - The introduction of the "Neurosystem Medical Service Pricing Project Guidelines" by the National Healthcare Security Administration is a significant step towards standardizing medical service pricing [6] Summary by Sections Industry Performance - Over the past 12 months, the industry has shown a relative return of -14.16% compared to the CSI 300 index, with an absolute return of -4.66% [3] Key Developments - The guidelines for neurosystem medical services include the integration of 82 main projects and the establishment of pricing for invasive and non-invasive brain-computer interface technologies [6] - The brain-computer interface industry is projected to reach a market size of $7.63 billion by 2029, driven by advancements in semiconductor and electronic information technologies [7] - Various countries, including the US, Japan, and EU, are implementing policies to support the development of brain-computer interface technologies [7] Investment Recommendations - Investors are encouraged to focus on companies with advantages in technology research and market positioning within the brain-computer interface industry [8] - Key sectors to watch include precision diagnostics and AI healthcare, neuro-interventional devices, neuro-regulation and brain-computer interfaces, and rehabilitation medical equipment [8]