A research report by CITIC Securities reveals that China’s first domestically developed implantable brain-computer interface (BCI) product is nearing market registration application, signaling a pivotal milestone for the domestic BCI sector. Propelled by a convergence of factors, its path to commercialization is gaining momentum, with the industry set to transition from the “neural rehabilitation” phase to the “brain-computer fusion” era. This evolution will be characterized by upstream technological breakthroughs, parallel midstream advancements between China and the U.S., and expansive downstream applications.
The report highlights three key investment themes:
1. Invasive BCI Leaders: Firms with cutting-edge technologies or superior clinical outcomes in implantable devices.
2. Non-Invasive BCI Innovators: Companies leveraging diverse application scenarios and robust sales networks in non-invasive solutions.
3. CDMO/CRO Pioneers: Players with advanced capabilities in contract development, manufacturing, and clinical research services.