This report provides exclusive insights into the COVID-19 impact on the Biohacking Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Biohacking Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Biohacking Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
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.