According to a new report published by K D Market Insights, titled, “Biohacking Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global biohacking market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing interest in self-improvement and the pursuit of optimal health and performance, the growing awareness of personalized medicine and the desire to take control of one's health, which is the major factors augmenting the growth of the global biohacking market.
Increasing awareness of personalized health management and the desire for self-optimization fuel the demand for biohacking products and services. Individuals are seeking innovative tools and interventions to improve their physical and mental well-being are further expected to create ample growth opportunities for the global biohacking market during the forecast period i.e., 2023-2032. Moreover, favorable public and private funding initiatives support the growth of the biohacking market. Governments and organizations recognize the potential of biohacking in advancing healthcare and are providing financial support for research and development in this field has propelled market expansion. Rise of chronic diseases, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global biohacking market in 2022. The region is further projected to continue dominating in the market and also register the highest CAGR in the market during the forecast period. This can be attributed to the prevalence of health-conscious individuals, advancements in wearable technology, and the presence of key biohacking companies.
According to product type, the wearables segment accounted for the largest market share in the biohacking market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
The global biohacking market is segmented into product type, application, end user and region. Based on product type, the market is bifurcated into wearables, implants (chips), gene modification kits, smart drugs, supplements, mobile apps and others. Based on application, it is classified into monitoring, treatment, research, others. Based on end user, it is classified into pharmaceutical and biotechnology companies, hospitals & clinics, forensic laboratories, , research & academic institutes and others.
The global biohacking market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Biohacking Market
- On the basis of product type, the wearables segment accounted for the largest market share in the biohacking market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
- On the basis of region, North America accounted for the largest share in the global biohacking market in 2022. The region is further projected to continue dominating in the market during the forecast period.
- On the basis of region, Asia-Pacific is estimated to account for the second largest share in the market during the forecast period.
Some of the major biohacking companies profiled in the report include ODIN, Thync Global Inc., Apple Inc., Fitbit Inc., MOODMETRIC, Health Via Modern Nutrition Inc., Muse, ThrivePort LLC, TrackMyStack, OSTEOSTRONG, Synbiota, SynBioBeta LLC, and Grindhouse Wetware.
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