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  • Biohacking Market Growth Analysis | 2023-2028

    Biohacking Market Growth Analysis | 2023-2028

    Biohacking Market Growth Analysis | 2023-2028
    Report code - SRHL297 Delivery - 2 Weeks
    Biohacking Market Size, Share, Trends, Dynamics, Forecast, and Growth Analysis- 2023-2028. See more...

    Market Insights

    The biohacking market was estimated at USD 21.73 billion in 2022 and is likely to grow at a CAGR of 18.80% during 2023-2028 to reach USD 61.34 billion in 2028.

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    What is biohacking?

    Biohacking, also known as do-it-yourself (DIY) biology, 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.

    COVID-19 Impact on the Biohacking Market

    The outbreak of the COVID-19 virus has positively affected the biohacking industry. The COVID-19 crisis has resulted in a surge in 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.

    Biohacking Market Highlights

    Market Size in 2022

    USD 21.73 billion

    Market Size in 2028

    USD 61.34 billion

    Market Growth (2023-2028)

    18.80% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Key players operating in the biohacking market are-

    • 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).

    Market Dynamics

    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.

    • Significant technological growth coupled with the Internet of Things (IoT) penetration in consumer electronics and healthcare also augments the industry's growth.
    • Furthermore, the rising demand for smart drugs and devices to cater to the quality healthcare needs among the population as well as the high prevalence of chronic disorders are further expected to bolster the market expansion.

    Biohacking-Market-Dynamics

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    Segment Analysis

    End Use Type

    By type, the biohacking market has been segmented into pharmaceutical & biotechnological companies, forensic laboratories, and others.

    • Under these, the pharmaceutical & biotechnological companies segment held a considerable market share in 2022 and is likely to register the fastest CAGR during the review period.
    • This is mainly attributed to the increasing geriatric population.
    • Also, surging demand for devices for monitoring the heart rate, blood sugar level, and body movement is proliferating segment growth.

    Regional Insights

    By region, the North American market witnessed the highest market share in 2022 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 boost regional growth.

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    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Type

    • Inside
    • Outside

    By Product Type

    • Smart Drugs
    • Sensors
    • Strains
    • Others

    By Application Type

    • Synthetic
    • Genetic Engineering
    • Forensic Science
    • Diagnosis & Treatment
    • Drug Testing
    • Others

    By End-Use Type

    • Pharmaceutical & Biotechnological Companies
    • Forensic Laboratories
    • Others

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Biohacking-Market-Segmentation

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    Target Audience

    • Biohacking companies
    • Biohacking vendors
    • R&D companies
    • Hospitals
    • Drug manufacturing companies

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Biohacking Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the end-use types by product type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Biohacking, also known as do-it-yourself (DIY) biology, 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.

    The biohacking market was estimated at USD 21.73 billion in 2022.

    The biohacking market is likely to reach USD 61.34 billion in 2028.

    The biohacking market is expected to witness an impressive growth of 18.80% 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 market.

    The pharmaceutical & biotechnological companies segment is expected to register the fastest CAGR in the 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 the market.

    Biohacking companies, Biohacking vendors, R&D companies, Hospitals, Drug manufacturing companies are the target audience in the market.