The global biohacking market is projected to expand at a significant CAGR during the forecast period, between 2021 and 2028. Biohacking refers to human augmentation, which aims at improving the performance and health of human beings through strategic interventions by using its devices or products. It involves the use of function-enhancing drugs or devices that efficiently improve the cognitive functions and memory of individuals. Various experiments are conducted on the body by using several devices such as heart rate monitoring, stress level controls, biotechnology usage, and others. Biohacking is a method of do-it-yourself biology that can bring about a change in synthetic biology and result in developments in biotechnology, genetic engineering, and molecular biology.
Attributes | Details |
Report Title | Biohacking Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Products (Wearables, Mobile Apps, Smart Drugs, Supplements, Gene Modification Kits, Implant Chips, and Others), Applications (Research, Monitoring, Treatment, and Others), End-users (Research & Academic Institutes, Forensic Laboratories, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Others) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Thriveport, LLC; Apple Inc.; Moodmetric; The ODIN; Thync Global Inc.; Fitbit, Inc.; HVMN Inc.; Muse (Interaxon Inc.); TrackMyStack; and OsteoStrong |
The report on the global biohacking market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Based on products, the global biohacking market is segmented into wearables, mobile apps, smart drugs, supplements, gene modification kits, implant chips, and others. The wearables segment accounted for a significant market share in 2020 and is anticipated to register high growth rate during the forecast period owing to rising adoption of medical devices to track the health of the user electronically and developments in the medical sector. The implementation of smartwatches, which track the heart rate, sugar level, stress level, blood pressure, among others became extremely popular. The penetration of smartphones and Internet of Things (IoT) along with increasing awareness about biohacking medical devices are anticipated to propel the growth of the market segment. Fitbit Inc. launched its latest technologically advanced smartphone, the Fitbit Sense in 2020 designed to track the heart rate and control stress levels using the electrodermal sensor and on-wrist skin temperature sensor.
On the basis of applications, the market is categorized as research, monitoring, treatment, and others. The monitoring segment is projected to exhibit rapid growth during the forecast period owing to increasing demand for monitoring medical devices to measure the heart rate and other health statistics. Additionally, rise in purchasing power of consumers is a key factor pushing to wide demand for high-end medical devices to monitor the various units of cognitive function of the human body. Increasing demand for medical applications installed on the smartphones are expected to accelerate the growth of the segment. The research segment, however, is projected to exhibit robust growth rate in the coming years due to development of the medical research sector caused an upsurge in the research segment.
Based on end-users, the global biohacking market is classified as research & academic institutes, forensic laboratories, hospitals & clinics, pharmaceutical & biotechnology companies, and others. The hospitals & clinics segment is expected to expand at a high CAGR during the forecast period due to the rising prevalence of chronic diseases and geriatric population. Additionally, the wide availability of hospitals and clinics facilitate wider access for patients to get treated based on their illness or disease. Presence of skilled medical professionals and increasing demand for novel treatment options present major factors driving the market segment.
In terms of regions, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a large market share in terms of revenue in 2020 and is expected to expand at a high CAGR during the forecast period owing to the presence of key players in the region and rise in biohacking awareness among consumers. Increased R&D activities by research companies towards the integration of developed and advanced medical devices for biohacking are anticipated to further accelerate the regional market expansion. Growing support from government as well as non-government organizations towards biohacking along with advancements in the synthetic biology sector are propelling the market growth in the region.
Segments Covered in the Report
By Products
Key players in the global biohacking market are Thriveport, LLC; Apple Inc.; Moodmetric; The ODIN; Thync Global Inc.; Fitbit, Inc.; HVMN Inc.; Muse (Interaxon Inc.); TrackMyStack; and OsteoStrong. These players are widely engaged in various business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and increase their market share.
Segments Covered in the Report
By Products
Key players in the global biohacking market are Thriveport, LLC; Apple Inc.; Moodmetric; The ODIN; Thync Global Inc.; Fitbit, Inc.; HVMN Inc.; Muse (Interaxon Inc.); TrackMyStack; and OsteoStrong. These players are widely engaged in various business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and increase their market share.
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