The 5 Brain-Computer Interface Companies that Could Soon Control this $400 Billion Market
Neuralink has the highest valuation, but there are 4 more you should know
The idea of getting a chip implanted in one’s brain makes a lot of people uneasy. But according to a report issued by Morgan Stanley, there are currently 10,000 people waiting to get a Neuralink brain-computer interface (BCI) implanted in their brains.
To date, only 12 people have received the implant in clinical trials, although as many as 13 additional implantations are expected by the end of the year.
If you’re unfamiliar, a BCI provides a direct communication link between the brain’s electrical activity and an external device. It works by detecting and translating brain signals into computer commands. It’s actually quite fascinating and holds the promise of treating a variety of diseases and physical and mental impairments. These include, but are not limited to …
Paralysis
Stroke rehabilitation
Parkinson’s Disease
ALS
Hearing loss
Vision loss
Depression
PTSD
OCD
Epilepsy
Alzheimer’s Disease
Dementia
Traumatic brain injuries
While Neuralink is the most well-known, with the highest valuation at approximately $9 billion, it’s not the only BCI game in town.
One company in particular, Precision Neuroscience, made headlines a couple weeks ago after presenting a new study that showed its minimally invasive BCI technology can collect high-bandwidth neural data and deliver stimulation without deeply penetrating tissue.
And just last month, China’s State Food and Drug Administration announced the approval of a BCI standard for a new brain-computer interface technology. This is China’s first brain-computer interface medical device standard, laying the foundation for the development of the country’s brain-computer interface medical device industry, which is expected to be formally implemented in less than three months.
Worth noting, that news came just weeks after China’s state media described plans for “significant progress in the development of BCI chips” and high-performance communications silicon designed to filter and transmit neural signals in real time.
Overall, there are close to a half dozen BCI companies vying to lead this revolution in neuroscience. These include …
Morgan Stanley believes the total addressable market in the U.S. for BCIs could come in at around $400 billion, and suggests BCI commercialization could arrive in about five years. Indeed, we will soon find out.