A recent report published by Infinium Global Research on the biohacking market provides 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, forecast 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 combines the aspects of technology and synthetic biology. It is the treatment in which drugs and implants are used to enhance cognitive functions both externally and internally. It is similar to different nootropic drugs that are used to develop intelligence and focus. Biohacking is also called as do-it-yourself (DIY) biology. It is an electrosurgical device that is used for cutting, coagulating, fulgurating tissue.

The increasing demand for smart devices and effective drugs contribute to the growth of the biohacking market. Biohacking is a new frontier in the development of drugs and therapeutics due to the emerging healthcare industry and social movement. The rising prevalence of chronic diseases led to the surge in demand for biohacking. As per the World Health Organization, it is projected that by 2020, chronic diseases account for almost three-quarters of all deaths globally. The growing geriatric population boosts the expansion of the biohacking market. A study estimated that around 8.5 percent of people globally are aged 65 and over and it is projected to reach around 17 percent of the world’s population by 2050. The geriatric population is prone to chronic diseases escalating the demand for biohacking. Further, growing awareness about biohacking stimulates the growth of the market. Biohacking labs are set up in garages, warehouses, with second-hand equipment bought online. Thus anyone interested in science can perform experiments and learn by doing. The rise in the use of radiofrequency identification technology in medical devices aligned with the penetration of the internet of things in healthcare promotes the expansion of the biohacking market. Additionally, increasing the inclusion of fitness and consumer electronics leverages the growth of the market. The rise in demand for biohacking devices in key application areas such as forensic science, genetic engineering, drug testing, synthetic biology, and others leverages the growth of the biohacking market. On the flip side, lack of funds required for research, lack of expertise hinders the growth of the biohacking market. Moreover, advancement in technologies creates several opportunities for the growth of the biohacking market.

Geographically, the global biohacking market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to have the largest share in the global biohacking market. The presence of key market players in the United States drives the growth of the biohacking market in North America. The increasing awareness about biohacking among the younger generation in North America led to the development of the market in the region. Asia-Pacific region is expected to grow in the global biohacking market with a healthy CAGR over the forecast period. The revamping healthcare sector with increasing investments in it contributes to the growth of biohacking market in Asia-Pacific. Europe has significant growth opportunities in the global biohacking market. The rising research and development in Europe drive the growth of the biohacking market in Europe.

Segment Covered

The report on 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 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.