Biohacking Market Report
The report on the Global Biohacking Market is segmented By Type (Inside, Outside), By Product (Smart Drugs, Sensors, Strains, Others), By Application (Synthetic, Genetic Engineering, Forensic Science, Diagnosis & Treatment, Drug Testing, Others), By End-Use (Pharmaceutical & Biotechnological Companies, Forensic Laboratories, Others), and Region. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global biohacking market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Biohacking Market is segmented By Type (Inside, Outside), By Product (Smart Drugs, Sensors, Strains, Others), By Application (Synthetic, Genetic Engineering, Forensic Science, Diagnosis & Treatment, Drug Testing, Others), By End-Use (...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Biohacking Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 19.7% during the forecast period.
Figure: Global Biohacking Market Size, 2020-2026 (USD Million)
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Biohacking, also known as do-it-yourself (DIY) biology, which gives everyone including communities, individuals, research institutes and small group organizations, the ability to deconstruct and reconstruct biology using simple kits or supplements for the purpose of not only achieving their immediate outcomes as well as contributing to solving larger issues.
Key players operating in the global biohacking market are-
Growing innovative trends towards neuro-nutrition as well as increasing awareness of biohacking in the health & wellness space are likely to boost the product demand.
By type, the biohacking market has been segmented into pharmaceutical & biotechnological companies, forensic laboratories, and others.
By region, the North American market witnessed the highest market share in 2020 and is estimated to grow at a substantial CAGR during the assessment period. This is mainly ascribed to a surge in healthcare expenditure, technologically advanced healthcare infrastructure, and well-established healthcare companies. Moreover, growing healthcare expenditure and improving standards of living with large population growth further boosts regional growth.
The outbreak of COVID-19 virus has positively influenced affected the biohacking industry. The COVID-19 crisis has resulted in a surge in the market growth for the pharmaceutical industries. Several R&D activities have been conducted by companies to produce suitable drugs or vaccines to curb the crisis, which if projected to augment the market growth.
Various government of dominant players in the biohacking industry is increasing their investments in such industries, so that, it is possible for companies to come up with viable and potable drugs to limit and gradually eradicate the virus.
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The biohacking market is expected to witness an impressive growth of 19.7% CAGR in the foreseeable future.
Fitbit Inc. (The U.S), Apple (The U.S), HVMN Inc (The U.S), The Odin (The U.S), Thync Global Inc (The U.S), Synbiota (Canada), MoodMetric (The U.S), InteraXon Inc. (Canada), Behavioral Tech (The U.S) and Grindhouse Wetware (The U.S) are among the key players in the biohacking market.
North America witnessed the highest share in the biohacking market in 2020.
The pharmaceutical & biotechnological companies segment is expected to register the fastest CAGR in the biohacking market during the forecast period.
Growing innovative trends towards neuro-nutrition as well as increasing awareness of biohacking in the health & wellness space, Significant technological growth coupled with the internet of things (IoT) penetration in consumer electronics and healthcare are the factors driving the growth of biohacking market.
Biohacking companies, Biohacking vendors, R&D companies, Hospitals, Drug manufacturing companies are the target audience in the biohacking market.