A recent report published by Infinium Global Research on the biohacking market provides an in-depth analysis of segments and sub-segments in the global as well as regional biohacking market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biohacking market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global biohacking market. According to the report, the global biohacking market is projected to grow at a CAGR of 19.2% over the forecast period of 2019-2025.

Market Insight

Biohacking refers to the usage of function-enhancing drugs or the usage of internal or external implants to improve cognitive function, memory, and creativity in personalities. The most productive method includes the intake of nootropic drugs to develop intelligence and focus. Biohacking industry will witness numerous opportunities due to the spread of the coronavirus. Noteworthy developments are expected to be witnessed in the biohacking industry as more number of scientific communities resort to continuous research to control the spread of the disease. Several biohackers are also teaming up online to help develop coronavirus solutions. However, major factors anticipated to exert an impact on the healthcare market include delay in outpatient hospital visits for non-urgent treatments, supply chain disruptions internationally, condensed pharmaceutical spending, and delay in approval and launch of new drugs. Nevertheless, the impact of COVID-19 outbreak on the pharmaceutical industry is estimated to be neutralized by certain factors comprising higher demand for presently marketed drugs including analgesic, anti-viral, anti-infective, and other drugs from hospitals and other drugs from hospitals and other healthcare settings.

Biohackers have developed and are in the procedure of developing numerous products to explore the human body. Some of the noteworthy products are smart drugs, magnetic fingertips, microchips, brain sensors, bacterial and yeast strains, RFID implants, body sensors, smart blood pressure monitor health trackers, and many others. The increasing awareness about biohacking and rising demand for smart devices and effective drugs are the factors expected to drive the global biohacking market during the forecast period. The growing prevalence of chronic diseases across the globe is also pouring market growth. Furthermore, the upsurge in the usage of radiofrequency identification technology in medical devices coupled with the penetration of the internet of things (IoT) in the healthcare industry promotes the expansion of the biohacking market. On the other hand, severe regulations that govern the genetic engineering experiments, deficiency of funds required for research, and lack of expertise as well as cyber security practices are anticipated to restrain the market growth during the projection period.

Among the geographies, North America region is expected to hold the largest share in the global biohacking market as countries such as the U.S. and Canada are the front-runners of the adoption of new technology. Further, factors such as the presence of high R&D investments relating to new drug discovery and development are attributing to its large share. Furthermore, the Asia Pacific region is expected to witness significant growth during the forecast period due to the rapidly improving healthcare infrastructure in emerging economies such as China and India. Moreover, the presence of patient awareness and growing healthcare expenditure levels in the emerging markets are also expected to propel the market growth.

Segment Covered

The report on the global biohacking market covers segments such as type, product, application, and end-user. On the basis of type, the sub-markets include inside biohacking, and outside biohacking. On the basis of product, the sub-markets include smart drugs, strains, sensors, and other products. On the basis of application, the sub-markets include genetic engineering, forensic science, diagnosis and treatment, synthetic biology, drug testing, and other applications. On the basis of end-user, the sub-markets include forensic laboratories, pharmaceutical and biotechnological companies, and other end-users.

Companies Profiled:

The report provides profiles of the companies in the market such as Thync Global Inc., Moodmetric, InteraXon Inc., Behavioral Tech., Fitbit, Inc., Apple Inc., Synbiota Inc., The ODIN, HVMN Inc., Modern AlkaMe, and Other companies.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the biohacking market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.