The new report on the global Biohacking Market 2020 –2027 gives detailed insights on the overall market dynamics such as market diversification, market penetration, product developments, and competitive assessment. The report also includes an analysis of COVID-19 impact on the overall market growth in terms of size, share, drivers, opportunities, and trends.
The global biohacking market was valued at USD 12,070.25 million in 2019 and size is expected to reach USD 52,779.36 million by 2027 to grow at a CAGR of 20.4% during the forecast period. 2020 –2027. The growing use of RFID technology, increasing trends of neuro-nutrition, integration of the internet of things (IoT), and rising inclusion of fitness & consumer electronics are set to fuel the growth of the global market. Additionally, the sharp rise in chronic diseases coupled with the increasing geriatric population is anticipated to create lucrative opportunities for the market globally. Furthermore, growing awareness for biohacking, increased R&D activities for product enhancements and wide adoption of wearable analytic technological devices are the key factors driving the growth of the global biohacking market. The global market leaders are working on the synthesis of COVID 19 vaccine likely to gain traction for different projects that can lead to demand for the market.
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Global Biohacking Market Key Highlights:
- Type-base segmentation divides the biohacking market into inside and outside biohacking. The outside biohacking segment is holding the major market share and it is expected to add more to it with the fastest possible CAGR owing to its preference for safer application inside biohacking.
- Based on products, the market is divided into smart drugs, sensors, and strains. The smart drug segment is emerging as the leading revenue generator on account of its increasing demand for health supplements, especially memory-boosting supplements for children.
- By applications, the global market comprises synthetic biology, genetic engineering, drug testing, forensic science, and diagnosis & treatment. Among these, the synthetic biology segment has the potential to lead the market growth due to a rise in the prevalence of chronic diseases and increasing investments by major companies.
- By end-users, the market constitutes pharmaceutical & biotechnology companies, forensic laboratories, and others. The pharmaceutical & biotechnology company segment dominating the market due to the huge demand for health devices to monitor body movement, heart rate, and blood sugar level.
- Competitive Development: Leading players are involved in acquisitions, partnerships, product launches, and expansion activities for strengthening their foothold in the global biohacking market. Apple has launched watchOS 7 that continuously monitor patients sleeping pattern is one of the key developments in the market posing competition for other market players.
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Some of the major companies profiled in this study include:
Thync Global Inc., Apple, HVMN, Inc., Synbiota, Grindhouse Wetware, MoodMetric, THE ODIN, and Fitbit, Inc. are some of the key players operating in the market. The companies operating in the market are involved in the development of the product, strategic initiative, and regional expansion. For instance, Tim Cannon (co-founder of Grindhouse wetware) had implanted a circadia device into his arm. This was the very first event of body implantation. The Circadia device is capable of monitoring body temperature.
Regional Growth & Trend :
Regional segmentation classifies the global biohacking market into North America, Latin America, Europe, Asia Pacific, and MEA. North America is expected to retain its top position in the market owing to the presence of several synthetic biology and biotechnologies companies in the region. This clear dominance is also attributed to rapid technological advancements coupled with increasing healthcare expenditure. Furthermore, increasing R&D activities by leading companies to develop new vaccines or drugs to cure the patient is a key factor responsible for boosting the demand for the global biohacking market. Asia Pacific region is also showing stellar progress in terms of growth rate on account of the rapid increase in the cases of chronic diseases, improving healthcare infrastructure, and the need for the development of vaccines for life-threatening viruses such as COVID-19. Moreover, increasing awareness among youths about biohacking is expected to make a lasting impact propelling the market growth ahead.
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Table of Contents
Biohacking Market Insights
Biohacking Market Assessment by Type
Global Biohacking Market, by Product
- Smart Drugs
Global Biohacking Market, by Application
- Synthetic Biology
- Genetic Engineering
- Forensic Science
- Diagnosis & Treatment
- Drug Testing
Biohacking Market Assessment by End-Use
- Pharmaceutical & Biotechnology Companies
- Forensic Laboratories
Biohacking Market Assessment by Geography
List of Tables
Table 1 Global Biohacking Market, By Type, 2016 – 2027 (USD Million)
Table 2 Global Biohacking Market, by Product, by Region, 2016-2027 (USD Million)
List of Figures
Figure 1. Market Highlights (2019, Revenue)
Figure 2. Integrated Ecosystem
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