脑机接口行业专题报告（二）：战略价值凸显，全球加速竞逐

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry, specifically focusing on the brain-computer interface (BCI) sector [1]. Core Insights - The brain-computer interface is recognized as a "disruptive technology of the 21st century," with strategic significance highlighted by multiple countries prioritizing its development [3]. - The global BCI market is in a critical phase of "technological breakthroughs, clinical validation, and commercial implementation," with significant advancements in various countries [4]. - The potential market size for BCI applications in the medical field is estimated to reach between $40 billion and $145 billion by 2030-2040, with serious medical applications projected at $15 billion to $85 billion [5]. Summary by Sections Section 1: Global BCI Industry Development - The BCI industry has evolved from concept to commercialization over the past fifty years, with significant milestones in research and application phases [8][9]. Section 2: Industry Growth and Company Numbers - The global BCI market reached $1.98 billion in 2023, with over 500 representative companies worldwide, primarily concentrated in the US and China [10]. Section 3: National Strategic Planning - Various countries have released strategic plans to accelerate BCI development, with differing focuses based on regional priorities [14]. Section 4: US BCI Development and Policy - The US has a comprehensive policy framework supporting BCI development, with significant investments from agencies like NIH and DARPA [16][18]. Section 5: European "Human Brain Project" - The EU's "Human Brain Project" aims to simulate human brain functions and has established a roadmap for future research and ethical considerations [20][23]. Section 6: Initiatives in Japan, South Korea, and Australia - Japan, South Korea, and Australia have launched their respective brain initiatives to support BCI research and applications, focusing on various neurological diseases [24]. Section 7: China's Policy Support for BCI - China's BCI industry has seen rapid growth due to supportive policies, with significant investments and plans at both national and local levels [25][29].