Funding landscape of invasive BCI players (US$). Source: IDTechEx
(IN BRIEF) The brain-computer interface (BCI) market is expanding rapidly, with companies developing both invasive and non-invasive solutions for communication, mobility, and device control. While Elon Musk’s Neuralink has garnered significant attention, it faces competition from several established players like Blackrock Neurotech, Synchron, and Onward Medical. These companies are pursuing different technical approaches, including using stentrodes, ECoG sensors, or the Utah array, to address the challenges of neural interfacing. Although invasive BCIs are hyped, non-invasive technologies, such as EEG caps, remain crucial and may see consumer applications in the near future. The overall BCI market is expected to grow to over $1.6 billion by 2045, with non-invasive solutions likely leading commercialization efforts initially. However, invasive BCIs could dominate the assistive technology market in the long run.
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(PRESS RELEASE) CAMBRIDGE, 24-Sep-2024 — /EuropaWire/ — The headlines have been full of exciting announcements about new brain-computer interface technologies that can read our minds. This data could be used in place of phone touch screens or computer mice to decode our speech and perhaps even control wheelchairs or drive cars. Much of the attention is drawn to Elon Musk’s Neuralink, the company developing an invasive, wireless ‘brain-chip’. However, the fate of the brain-computer market is far less tied to this specific company than many may appreciate.
The latest report from market intelligence firm IDTechEx on the brain-computer interface market finds that Neuralink is facing competition not only from other invasive brain computer interface developers but also from the more established eco-system of non-invasive solution providers.
Over the last decade, a range of companies have been founded seeking to develop invasive brain-computer interface solutions. Comparatively, Neuralink (founded in 2016) has been late to the party, following players such as Blackrock Neurotech (2008), Synchron (2012), Onward Medical (2014), and Paradromics (2015). But this eco-system has been thrust further into the spotlight in more recent years as their funding levels have risen, with almost US$1.5B now split amongst the leading players.
Most players are proposing approaches designed to overcome some key challenges with many existing neural interfaces. However, while many of these players are reacting to the same brief, their responses vary significantly. For example, Neuralink is seeking to overcome the barriers presented by dependence on specialist surgeons by pioneering the development of a specialist robot to implant high numbers of ultra-fine electrodes into the brain. Meanwhile, Blackrock continues to improve on the now established Utah array to develop a more flexible and ultra-high channel count product. These two leaders also differ (publicly, at least) in their prioritization of offering entirely wireless solutions.
Others in the space argue that reducing invasiveness is of higher value. This includes Onward Medical, who are pursuing the ECoG (electrocorticography) approach, which sees sensors sit within the skull but only contact the surface of the brain. Yet their system is very different again from Synchron’s, whose stentrodes are designed to lace the inside of blood vessels.
The years ahead will see many players ramp up their clinical trial activity, and the efficacy of these various BCI approaches in humans will all truly be put through their paces.
Overall, it’s not all about Neuralink. Looking ahead, the pressure is mounting on many players to deliver on offering improved quality of life to those demographics in real need of successful invasive BCIs integrated into assistive technology solutions for communication, mobility, and social inclusion.
Given the extent of the hype surrounding invasive BCIs, it is easy to overlook the importance of their non-invasive counterparts. Neuroscience research has utilized electrode-integrated EEG (electroencephalography) caps for decades to measure and use brain signals for a variety of applications, including demonstrations of wheelchair control, cursor control, and speech decoding.
IDTechEx expects the next few years to be critical in determining if consumer device control will really include non-invasive BCI solutions or if the technology will remain routed in research and emotional state monitoring markets.
Ultimately, IDTechEx anticipates an evolving opportunity for both non-invasive and invasive technologies across the next twenty years, with the overall brain computer interface market forecast to grow to over US$1.6bn by 2045. The market for non-invasive solutions will grow before the commercialization of invasive solutions from players such as Neuralink. However, the long-term opportunity within the assistive technology market is more likely to be captured by the likes of Elon Musk. For now, the floor is open not only for Neuralink but also for its many and growing list of competitors.
Find out more in the market report “Brain Computer Interfaces 2025-2045: Technologies, Players, Forecasts” – see www.IDTechEx.com/BCI.
About IDTechEx
IDTechEx provides trusted independent research on emerging technologies and their markets. For more information, contact [email protected] or visit www.IDTechEx.com.
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Frequently Asked Questions (FAQs)
1. What is a brain-computer interface (BCI)?
A brain-computer interface (BCI) is a technology that enables direct communication between the brain and an external device. It uses brain signals to control systems such as computers, prosthetics, or assistive technologies, allowing users to interact with devices without traditional input methods like keyboards or touchscreens.
2. What’s the difference between invasive and non-invasive BCIs?
Invasive BCIs require surgical implantation of devices, such as electrodes, directly into or onto the brain to capture neural signals with high accuracy.
Non-invasive BCIs use external sensors, like EEG caps, that measure brain activity from the scalp without surgery. While safer, they generally provide lower signal quality compared to invasive methods.
3. What is Neuralink, and how does it compare to other BCI companies?
Neuralink is an invasive BCI company founded by Elon Musk that aims to develop wireless brain implants to assist with communication, mobility, and other neural functions. While it has gained significant attention, it faces competition from other companies like Blackrock Neurotech, Synchron, and Onward Medical, all of which are pursuing different BCI approaches and technologies.
4. How do BCIs help people with disabilities?
BCIs can assist people with physical disabilities by enabling control of assistive devices such as wheelchairs, prosthetics, or communication tools. For instance, individuals with limited mobility or speech impairments could use BCIs to interact with computers, control smart devices, or restore communication capabilities.
5. What are the main challenges in developing invasive BCIs?
Some key challenges include the need for highly specialized surgeries, potential safety risks, durability of the devices over time, and ensuring the BCIs are both wireless and minimally invasive. Different companies are tackling these challenges using various technological solutions, such as miniaturized electrodes, specialized robots, and flexible devices.
6. Why is there so much focus on Neuralink in the BCI market?
Neuralink has garnered significant media attention because of its high-profile founder, Elon Musk, and its bold claims about revolutionizing how BCIs could assist people in the future. However, the BCI market consists of many other companies, some of which were developing BCI solutions before Neuralink, and they are also making critical advancements in the field.
7. What are non-invasive BCIs used for today?
Non-invasive BCIs, like those using EEG (electroencephalography) technology, are currently used in research, rehabilitation, and for controlling simple devices. They have applications in emotional state monitoring, neurofeedback therapy, and research into neurodegenerative diseases.
8. What is the future of the BCI market?
The BCI market is expected to grow significantly, with forecasts estimating it will reach over $1.6 billion by 2045. Initially, non-invasive solutions will likely lead the way in consumer markets, while invasive technologies are anticipated to gain traction in assistive technologies and healthcare as their efficacy and safety improve.
9. Which companies are leading the development of BCIs?
In addition to Neuralink, companies such as Blackrock Neurotech, Synchron, Paradromics, and Onward Medical are also key players in the development of BCI technologies, offering a range of solutions for different use cases.
10. Will BCIs be used for everyday device control in the future?
There is potential for BCIs to be used for everyday device control, such as controlling smartphones, computers, or home automation systems. However, whether this becomes mainstream depends on advancements in both invasive and non-invasive BCI technologies and their ability to be user-friendly, safe, and affordable for consumers.
SOURCE: IDTechEx
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