Share
Biohacking Market Size, Share, and Analysis, By Product (Wearables, Strains, Smart Drugs, Others), By Application (Monitoring, Treatment, Research, Others), By End User (Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Forensic Laboratories, Research & Academic Institutes, Others) and Regional Forecasts, 2022-2032
Biohacking Market size was USD 17.45 billion in 2021 and projected to grow from USD 24.5 billion in 2023 to USD 115.6 billion by 2032, exhibiting a CAGR of 18.8% during the forecast period.
Biohacking, in simple terms, is referred as ‘do-it-yourself’ biology. For most biohackers, this comprises making small lifestyle or diet changes to make minor improvements in well-being and overall health. Biohacks hold the potential for anything from rapid loss of weight to improved function of the brain. But ideal biohacking impacts come from being knowledgeable and careful about what works for an individual’s body.
Biohacking Market is expected to reach USD 115.6 billion, growing at a CAGR of 18.8% during the forecast period owing to the increasing demand for smart or intelligent devices and growing cases of chronic disorders. Also, rising research and development funding by the government and pharmaceutical companies are expected to boost the growth of Biohacking Market over the forecast period.
Biohacking Market Segmentation:
Biohacking Market is classified based on the Product into Wearables, Strains, Smart Drugs, and Others. The Wearables segment registered a major market share in 2020 owing to the increased use of wearable devices like patches, smartwatches, smart rings, etc. The Smart Drugs category is projected to account for the significant share by 2028 owing to greater demand for such drugs since they have memory boosting potential.
Biohacking Market is classified based on the End User into Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Forensic Laboratories, Research & Academic Institutes, and Others. The Pharmaceutical & Biotechnological Companies category held a major market share in 2021 and is projected to lead during the estimated period. This is majorly due to the rising elderly population. Also, expanding demand for monitoring devices for sugar level (blood), heart rate, and the body movement is booming the category growth.
Rise in Chronic Disorders and Growing Awareness for Biohacking is Expected to Boost the Market Growth
The Biohacking Market is being considerably driven by the rise in chronic diseases, the demand for intelligent gadgets and medications, and knowledge about biohacking. In the projected period, number of prospects are predicted for market growth due to the sharp rise in chronic diseases among the aging population. Further, researchers and scientists carry out various laboratory experiments to invent new paths in molecular biology, genetic engineering, and biotechnology. Biohackers perform a variety of experiments on the human body like adding microphones or keeping an eye on heart rate. Brain sensors, RFID implants, smart medications, yeast and bacterial strains, microchips, magnetic fingertips, and health monitors are some of the key goods developed due to trials.
Major Technological Advancements and Penetration of IoT in Healthcare and Consumer Electronics are Expected to Boost the Market Growth
Widespread adoption of Internet of Things (IoT) in healthcare and consumer electronics, along with significant technological advancement, has boosted the industry growth. Moreover, the growing cases of chronic illnesses and the rising need for smart medicines and medical equipment to meet the population's expectations for high-quality healthcare are anticipated to support market growth.
Stringent Regulation and Lack of Cyber Security Practices to Restrain the Market Growth
The Biohacking Market is anticipated to be constrained by stringent laws governing genetic engineering experiments, a lack of funding for research, a lack of competence, and a lack of cyber security procedures during the forecast period. The fact that these biohacking gadgets interface with one other and transmit data directly to patients' medical records via web services is another major challenge. A hacker might change the data entered into the medical database since many web services are not verified or encrypted between devices.
Biohacking Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Biohacking Market is currently dominated by North America since more governments are investing in research and development. Moreover, during the projected period, the region's Biohacking Market would progress even more due to the increasing utilization of synthetic biology. Asia-Pacific is predicted to witness significant market growth due to the presence of technologically advanced healthcare infrastructure. Furthermore, the market in the region would also rise in the coming years due to the appropriate government initiatives and extensive research and development events in the emerging nations.
The COVID-19 virus outbreak had a favorable impact on the biohacking market. The COVID-19 crisis caused the pharmaceutical industries' markets to grow rapidly. Companies have engaged in a number of R&D initiatives to create acceptable medications or vaccinations to stop the epidemic, which, if successful, would boost the market's growth. Governments of major biohacking players are increasing expenditure in these sectors so that pharmaceutical companies can develop effective treatments to contain and eventually destroy the virus.
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2032 |
|
Base Year |
2022 |
|
Forecast Period |
2022-2032 |
|
Historical Period |
2019-2021 |
|
Growth Rate |
CAGR of 18.8% from 2022-2032 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
Product |
|
|
Application |
|
|
End User |
|
|
By Region |
|
Biohacking Market size was estimated at USD 17.45 billion in 2021 and is expected to reach USD 115.6 billion in 2032.
Biohacking, in simple terms, is referred as ‘do-it-yourself’ biology. For most biohackers, this comprises making small lifestyle or diet changes to make minor improvements in well-being and overall health.
Smart Drugs and Pharmaceutical & Biotechnology Companies segments accounted for the largest Biohacking Market share
Key players: Apple Inc., Fitbit Inc., OsteoStrong, Dave Asprey, Muse (Interaxon Inc.), Soylent, Primal Life Organics, Neurohacker Collective, HVMN Inc., SQLAB Clinic, Kaatsu Global, The ODIN, Grindhouse Wetware, Synbiota, Biohacking ORB, and Other Prominent Players are the key players in the Biohacking Market.
Rising use of Biohacking practices by users and number of initiatives undertaken by key players are the factors driving the Biohacking Market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
