Biohacking Market- Overview
The global Biohacking market is expected to grow at a CAGR of 19.42% during the forecast period. Biohacking, also known as Do-It-Yourself (DIY) biology, a next step in synthetic biology. It 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 perform various experiments on the body, for instance, inserting microchips to control stress level or monitor heart rate.
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DIY biology product list never ending as large number of revolutionary researchers have invented novel biology products making one smarter than ever. Major products are microchips, Radio Frequency Identification (RFID) implants, eyeborg, magnetic finger tips, smart blood pressure monitors, smart drugs to name a few. Eyeborg is a devices that allows people to perceive colors through sound waves.
Biohacking Market – key players
Key players in biohacking market are Synbiota, HVMN, Inc., MoodMetric, Thync Global Inc., U.S.A., Interaxon, BEHAVIORAL TECHNOLOGY GROUP, INC., and more.
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.
On the basis of end user, the market is segmented into pharmaceutical & biotechnology companies, forensic laboratories, and others.
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The market for biohacking is growing due to an increase in demand for innovative products, growing emphasis on biosafety and biosecurity, and overall demand of effective and efficient treatment solutions in healthcare. Also, personalized care will also propel the market growth.
The market is expected to show growth potential in the developed countries owing to the rise in the per capita income of the population, and availability of resources for research activities. Major restrains for the growth of this market is restrict regulations governing the genetic engineering experiments, lack of funds available for research and lack of expertise.
However, there is still a need for increasing awareness about biohacking among the developing regions across the globe. Countries in Asia Pacific such as India, and Australia show growth potential owing to the availability of highly qualified and skilled workforce in the field of research and improving macroeconomic conditions. In Africa, primary care is one of the basic needs of people, demanding technologically advanced device for delivery of care in remote areas. All these need could to be fulfilled through scientific and technological approaches involving biohacking, thus making the lives of the people easier in this region. Therefore, tremendous demand for affordable healthcare technology, determines the growth of market in Africa.
Major TOC of Biohacking Market Research Report – Global forecast till 2023
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Biohacking Market, By Type
7 Global Biohacking Market by Product
8 Global Biohacking Market by Application
9 Global Biohacking Market, By End User
10 Global Biohacking Market, By Region
11 Company Landscape
12 Company Profile
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