Biohacking Market is projected to reach USD 63 Billion by 2028, at a CAGR of 19% from 2021 to 2028. Biohacking refers to the use of function-enhancing drugs or the use of external or internal implants to improve cognitive function, memory, and creativity in individuals. The most prolific method include the intake of nootropic drugs to develop intelligence and focus. It is also known as do-it-yourself (DIY) biology. Biohackers have set up shop in warehouses, garages, and other such spaces. Some of the well-known labs in the U.S. include Biogarage, Bioartlab, Genspace, BioCurious, and LA Biohackers.
Awareness of biohacking, prevalence of chronic diseases, and demand for smart devices and drugs are factors likely to drive the biohacking market growth over the forecast period (2021-2028). Lack of cyber security practices can deter the biohacking market growth. The sharp rise noticed in chronic diseases coupled with the growing geriatric populace is expected to provide opportunities for the biohacking market to grow.
The increasing use of radiofrequency identification (RFID) technology in medical devices combined with the penetration of internet of things in healthcare, fitness, and consumer electronics is expected to push the biohacking market demand. This can be credited to the need for quality healthcare needs among the populace.
The report covers the latest trends affecting the biohacking market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts make highly astute projections regarding the scope of the biohacking market and its future prospects. MRFR’s report includes a thorough analysis of the biohacking market segmented by type, product, application, end-user, and region. Trends and opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.
By type, the biohacking market is segmented into outside and inside biohacking. Product-wise, the biohacking market is segmented into strains, sensors, smart drugs, and others. Major applications include synthetic biology, forensic science, genetic engineering, diagnosis & treatment, drug testing, and others. End-users in the market include pharmaceutical & biotechnology companies, forensic laboratories, and others.
The segments covered in the biohacking market report are analyzed with respect to four major regions – Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.
Noteworthy industry participants in the biohacking market include Thync Global Inc. (U.S.), Synbiota (Canada), Apple (U.S.), HVMN, Inc. (U.S.), MoodMetric (U.S.), THE ODIN (U.S.), and Fitbit, Inc. (U.S.). The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.
At MRFR, our research analysts conduct a thorough objective analysis of the biohacking market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the biohacking market. Use of primary research strategies such as interviews with top executives of biohacking kits and tools manufacturers. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner. Additionally, biohacking market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
Biohacking Market By Product
Biohacking Market By Application
Biohacking Market By End-user
Biohacking Market By Region
|Market Size||2028: USD 63 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Thync Global Inc. (U.S.), Synbiota (Canada), Apple (U.S.), HVMN, Inc. (U.S.), MoodMetric (U.S.), THE ODIN (U.S.), and Fitbit, Inc. (U.S.).|
|Key Market Opportunities||The sharp rise noticed in chronic diseases coupled with the growing geriatric populace|
|Key Market Drivers||
The biohacking market is estimated to grow to USD 63 Billion by 2028
The biohacking market is projected to grow at approximately 19% CAGR during forecast period (2021-2028).
Increasing use of RFID technology in medical devices.
North America holds the largest share in the biohacking market followed by Europe and Asia Pacific, respectively.
HVMN, Inc., ODIN, Synbiota, Thync Global Inc., Apple, Moodmetric, and Fitbit, Inc., others, are some of the major players operating in the biohacking market.