The global biohacking market is anticipated to grow at a CAGR of around 20.0% during the forecast period 2021 to 2028 and to reach around US$ 66.7 Bn by 2028.
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Product, By Application, By End Use, and By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Apple Inc., The ODIN, Thync Global Inc., Fitbit, Inc., Moodmetric, HVMN Inc., Muse, Thriveport, LLC, TrackMyStack, and OsteoStrong.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Flourishing biotechnology sector across the globe, gene therapy witnessing rapid investment & progress, along with supportive government norms are factors expected to drive the growth of global biohacking market. Rapid technological advancements in biotechnology sector, availability of developed infrastructure in developed countries and high investment in development of various vaccines is impacting the market growth. Changing healthcare scenario and easy availability of resources is influencing consumer’s interest towards incremental diet or lifestyle changes to make small improvements in health and well-being. With the government chancing regulations related in to do it yourself in gene editing is impacting the growth of North America biohacking market. In 2019 California passed the first law in the US targeting ‘biohacking’, the practice of do-it-yourself gene editing. Starting in January 2020, it will be illegal to sell CRISPR gene therapy kits without warnings that they are not safe to self-administer.
Major players approach towards enhancing the business through innovative product launches and mergers is expected to augment the growth of global biohacking market.
In 2021, Biohacking ORB, a global wellness enterprise launched biohacking orb that uses neuro-acoustic sound therapy, applying specific sound frequencies and rhythms to induce a desired brain state. The product launch is expected to help company enhance the business portfolio.
In 2021, Smidge Small Batch Supplements, a global supplement provider launched a line of premium supplements that includes probiotics, digestive enzymes, whole food vitamins, and natural minerals. This is expected to help company increase the customer base.
In 2019, Ahead Nutrition, a manufacturer of biohacking supplements launched new products that help customers reach their full physical and mental potential. The product launch is expected to help company enhance the business.
Global players are focused on product development activities, their approach towards innovative solutions such as wearable’s and implants along with high investment in drug development such as nootropics this is expected to augment the market growth.
Factors such as lack of developed infrastructure in developing countries and stringent government regulations related to product approval are factors expected to hamper the growth of global biohacking market. In addition, ethical issues and low awareness among consumers is expected to challenge the growth of target market. However, increasing funding in biohacking by major players, rising awareness among consumers, and high spending by the government on infrastructure are factors expected to create new opportunities for players operating in the biohacking market over the forecast period. In addition, the implementation of AI in biohacking and rising strategic partnership activities by players are factors expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in Asia Pacific is expected to witness faster growth in the biohacking market due to changing government regulations and increasing spending on development of biotechnology sector.
Rapid deployment of new enhanced devices, development of infrastructure, and favorable business policies by the government are factors impacting the growth of the regional market. Major players are inclining towards enhancing the business overseas and tracking the untapped market in developing region this is expected to boost the market growth.
The global biohacking market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Biohacking Market Segment Analysis, 2020
The global biohacking market is segmented into product, application, and end use. The product segment is divided into wearables, implants (chips), gene modification kits, smart drugs, supplements, mobile apps, and others. Among product wearable’s segment is expected to account for major revenue share in the global biohacking market.
The end use segment is bifurcated into pharmaceutical & biotechnology companies, hospitals & clinics, forensic laboratories, and research & academic institutes. Among end use the pharmaceutical & biotechnology companies segment is expected to account for major revenue share. The application segment of global market is divided into monitoring, treatment, research, and others. Players profiled in the global biohacking market are Apple Inc., The ODIN, Thync Global Inc., Fitbit, Inc., Moodmetric, HVMN Inc., Muse, Thriveport, LLC, TrackMyStack, and OsteoStrong.
Market By Product
Gene Modification Kits
Market By Application
Market By End Use
Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Research & Academic Institutes
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The global biohacking market in 2028 is expected to be above US$ 66.7 Bn.
The CAGR of the global biohacking market from 2021-2028 is above 20.0%.
In product the antidepressant drugs segment is growing at faster pace.
Flourishing biotechnology sector across the globe, gene therapy witnessing rapid investment & progress, along with supportive government norms are factors expected to drive the growth of global biohacking market.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are The ODIN, Thync Global Inc., Fitbit, Inc., and Moodmetric.
The North America is expected to account for major revenue share in the global market.