The Global “Biohacking Market” is expected to grow at a CAGR of 19.42% during the forecast period. The Global Biohacking Market is mainly driven by rising awareness about biohacking, increasing prevalence of chronic diseases, and extensive demand smart devices and drugs across the globe.
The Global Biohacking Market is segmented on the basis of type, product, application, and end user. On the basis of type, the market is segmented into outside biohacking and inside Biohacking. On the basis of product, the market is segmented into smart drugs, sensors, strains, and others. On the basis of application, the market is segmented into synthetic biology, genetic engineering, forensic science, diagnosis & treatment, drug testing, and others.
Biohacking refers to managing one’s own biology using a combination of medical, nutritional and electronic techniques. Biohackers are people who perform lab experiments to explore new possibilities of biotechnology, molecular biology, genetic engineering and many other aspects of biology. They undertake number of various experimentation on the body, for instance, inserting microchips to control stress level or monitor heart rate.
Microchip is a unit of packaged computer circuitry, manufactured from a material such as silicon. They are made of microprocessors and for computer memory and are also used for various purposes such as such as analog-to-digital conversion, bit slicing, and gateways. Implanting microchips into the human body can transform number of daily activities a person does. The size these microchips are as small as a rice grain that can be easily implanted under the skin. Most of the bio hackers get these implanted into their skin which makes their tasks easier than ever before.
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Top Industry Players in Biohacking Market:
Some of the key players in the global market are Fitbit, Inc. (U.S.), Apple (U.S.), Synbiota (Canada), THE ODIN (U.S.), HVMN, Inc. (U.S.), Thync Global Inc., U.S.A. (U.S.), Moodmetric (U.S.) and others.
Key players are now focusing on new product development and expansion strategies in the European market. For instance, Apple Watch is one the most popular products in continuously health monitoring and tracking devices. “watchOS 4” launched by Apple featured G5 Continuous Glucose Monitor (CGM) which become popular among the iPhone users across the globe.
Regional Analysis of the Global Biohacking Market:
Geographically, the global biohacking market is segmented into four regions namely Americas, Europe, Asia Pacific and the Middle East and Africa.
Americas hold the significant market share in biohacking owing the presence of large number of biotechnology and synthetic biology companies engaged in the product of innovative products. Large number of conferences are organized by a number of biohacking groups and organizations encouraging the youth to do research in the field of biotechnology.
Europe is regarded as the second largest market for biohacking. In Europe, the market for biohacking is found to be growing steadily. The major restrain for the growth of this market in the Europe is strict regulations governing biohacking. For instance, European groups need to obtain license from the government to carry out genetic engineering experiments.
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Major TOC of Biohacking Market Research Report – Global forecast till 2023:
1 REPORT PROLOGUE
2 MARKET INTRODUCTIONS
2.2 Scope Of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.5 Market Structure
3 RESEARCH METHODOLOGIES
3.1.1 Primary Research Methodology
3.1.2 Secondary Research Methodology
3.1.3 Market Share Analysis
3.1.4 Trade Analysis
3.2 Forecast Model
4 MARKET DYNAMICS
4.2.1 Rising Prevalence Of Chronic Disease
4.2.2 Growing Awareness About Biohacking
4.2.3 Increasing Demand For Innovative Medical Devices And Sensors
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