Biohacking Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Biohacking Market size was valued at USD 18.95 Billion. in 2022, and the total revenue is expected to grow by 19.8 % from 2022 to 2030, reaching nearly USD 80.40 Billion.
Biohacking Market Overview:
Biohacking is the use of functionally-enhancing drugs or the use of external or internal implants to enhance an individual's cognitive function, memory, and creativity. The most common way is to take nootropic drugs to develop intelligence and concentration. Also known as do-it-yourself (DIY) biology. Biohackers have set up shops in warehouses, garages, and other similar spaces. Well-known labs in the US include Biogarage, Bioartlab, Genspace, BioCurious, and LA Biohackers.
Awareness of biohacking, the prevalence of chronic diseases, and demand for smart devices and drugs are the factors likely to drive the biohacking market growth during the forecast period (2021-2028). A lack of cybersecurity practices may hinder the growth of the biohacking market. The rapid increase in chronic diseases coupled with a growing aging population is expected to provide opportunities for the biohacking market to grow.
Increased use of radio frequency identification (RFID) technology in medical devices coupled with penetration of the Internet of Things in healthcare, fitness, and consumer electronics are expected to fuel the biohacking market demand. This is due to the need for quality medical care among the public.
Biohacking Market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Biohacking Market in detail. Regional market sizes related to products by type, by application, and by a player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In September 2020, Fitbit Inc. received US FDA and European Union CE approval for its ECG app for atrial fibrillation assessment.
- In September 2020, Apple Inc. launched the iPad Air featuring the A14 Bionic with second-generation machine learning accelerators.
Major Market Segments Covered in Biohacking Market Industry Research:
Market Key Players:
Thync Global Inc. (U.S.), Synbiota (Canada), Apple (U.S.), HVMN, Inc. (U.S.), MoodMetric (U.S.), THE ODIN (U.S.), Fitbit, Inc. (U.S.), And Others.
- Outside Biohacking
- Inside Biohacking
- Synthetic Biology
- Genetic Engineering
- Forensics Sciences
- Pharmaceutical & Biotechnology Companies
- Forensic Laboratories
The North American region is expected to hold the largest market share in the global biohacking market, due to various state laws in the US, regulating experiments in biology, thus making it Make it easy for bio hackers to share tips and tricks to help out. experts conduct independent structured experiments outside of a controlled experimental environment. On the other hand, Europe has emerged as the second largest market in the biohacking sector, due to the increase in diabetes in this region, mainly due to the increase in overweight and obesity, poor diet and physical inactivity that makes diabetes one of the most important. Chronic diseases are common in the European region, which is expected to continue in the future. According to a report by the World Health Organization (WHO) published in 2019, currently more than 60 million people suffer from diabetes in Europe. Furthermore, diabetes is the main cause of heart disease.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Consumer adoption of biohacking practices, favorable government and private funding support, and initiatives from major companies are expected to drive market growth.
The increasing prevalence of chronic diseases and growing demand for smart devices and medications are also expected to create significant growth opportunities for the market.
However, the lack of cyber security practices is expected to restrain the market growth during the forecast period.
Biohacking Market report scope:
Crucial Points from this Biohacking Market Report
- Estimate Biohacking Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Biohacking Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
- What is the CAGR of Biohacking Market?
- What are the key types of Biohacking Market?
- What are the key applications of Biohacking Market?
- Who are the key players in Biohacking Market?