Summary of Brain-Computer Interface Industry Conference Industry Overview - The brain-computer interface (BCI) industry is experiencing significant growth, with over 200 companies involved in China, including prominent players like Boruikang and JieTi [1][7]. - The industry chain is mature, with a maturity level of 80%-90%, encompassing upstream components like electrodes, chips, and algorithms [1][6]. Key Insights - **Boruikang's Position**: Boruikang has excelled in the education and rehabilitation sectors, focusing on semi-embedded devices that minimize brain damage and facilitate quicker clinical progress [1][2]. - **Market Growth**: The BCI market in China is projected to grow from approximately 3.8 billion yuan in 2024 to 5.5 billion yuan by 2027, with expectations to reach 7 billion yuan in the following years [3][16]. - **Device Segmentation**: Non-invasive devices currently dominate the market, holding over 80% of the share, but semi-embedded and fully implanted devices are expected to increase their market value significantly [3][16]. Technical Developments - **Cost Structure**: The primary costs in BCI devices are attributed to electrodes, chips, and algorithms, with implanted electrodes being the most expensive due to their single-use nature [3][11]. - **Signal Quality**: Non-invasive BCIs are gaining traction due to easier certification processes, but they face challenges in signal quality and accuracy compared to invasive methods [3][12]. - **Algorithm Importance**: Algorithms play a crucial role in signal processing, feature extraction, and virtual signal generation, which are essential for applications like speech recognition [9][10]. Clinical Applications - **Rehabilitation Focus**: Both semi-embedded and non-invasive BCIs are widely used in rehabilitation, with Boruikang developing devices that require minimal brain damage and can quickly advance clinical trials [5][18]. - **Surgical Advances**: JieTi has successfully completed the first fully implanted surgeries in China, marking a significant milestone in the field [7][8]. Challenges and Risks - **Certification Hurdles**: No domestic company has yet received medical device certification for embedded BCIs due to stringent clinical data requirements [4][24]. - **Market Perception**: Despite the potential, the capital market's attention towards the BCI industry remains limited compared to other countries, indicating a need for sustained investment interest [26][27]. Future Outlook - **Policy Support**: The Chinese government is expected to introduce policies to support the BCI industry, including subsidies for key projects and companies [20][30]. - **Technological Advancements**: Continued research and development are necessary to overcome existing challenges, particularly in high-channel count chips and understanding brain signal processing [13][28]. Conclusion The brain-computer interface industry is poised for growth, driven by technological advancements and increasing applications in rehabilitation and education. However, challenges related to certification, market perception, and the need for policy support remain critical for its future development.