Biohacking Market (By Product: Wearable’s, Implants (Chips), Gene Modification Kits, Smart Drugs, Supplements, Mobile Apps, Others; By Application: Monitoring, Treatment, Research, Others; By End Use: Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Forensic Laboratories Research & Academic Institutes, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast 2021 - 2028

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.

Report coverage

Market Dynamics

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.

Competitive Landscape                                                                                 

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 Segmentation

Market By Product

Wearable’s
Implants (Chips)
Gene Modification Kits
Smart Drugs
Supplements
Mobile Apps
Others

Market By Application

Monitoring
Treatment
Research
Others

Market By End Use

Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Forensic Laboratories
Research & Academic Institutes
Others

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa