Global Biohacking Market Influenced by the Prevalence of Chronic Diseases
The trend for treatment customization has become increasingly popular in recent times giving way to robust growth in the biohacking market. Reports that gauge the healthcare industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is projected to capture a 19.42 % CAGR in the duration of the forecast period.
Latest Free Sample PDF Available @ https://www.marketresearchfuture.com/sample_request/5155
The popularity of biohacking as a do-it-yourself (DIY) biology procedure is gaining increasing demand from individuals who are knowledgeable enough to decide their treatments. Moreover, the increased frequency of chronic diseases coupled with the demand for smart devices is expected to encourage the development of the biohacking market. Also, the biohacking market is expected to increasingly profit in the coming years due to the implementation of the internet of things (IoT) in fitness, healthcare, and consumer electronics.
The key players of the global biohacking market are
- Apple (U.S.)
- THE ODIN
- Thync Global Inc. (U.S.).
The global biohacking market has been segmented on the basis of type, product, application, and end-user.
Based on type, the biohacking market has been segmented into inside and outside biohacking. Outside biohacking accounts for the largest market segment over the forecast period. It is expected to reach a valuation of USD 16,142.38 million at the highest CAGR of 19.72%. Inside biohacking is also likely to gain considerable revenue and is anticipated to rise with an 18.88% CAGR during the review period.
Based on the product, the market has been segmented into sensors, smart drugs, strains, and others. The smart drug segment is leading the market and is likely to register a valuation of 11,980.71 million in 2023 at a 19.88% CAGR during the evaluation period.
Based on applications, the market has been segmented into diagnosis & treatment, drug testing, forensic science, genetic engineering, synthetic biology, and others. Synthetic biology is projected to grow substantially and dominate the market during the assessment period at a valuation of USD 3,255.75 million. The segment is also expected to sustain the leading market share at the highest CAGR of 19.81% during the forecast period.
Based on end-users, the market has been segmented into forensic laboratories, pharmaceutical & biotechnology companies, and others. The pharmaceutical & biotechnology companies segment accounts for the largest market share at a valuation of USD 13,882.08 million during the assessment period at a striking CAGR of 19.73%
Based on the region, the global market for biohacking is segmented into the Americas (North and Latin America), Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas are accounted for the leading region in the market and are expected to reach a valuation of USD 10573.53 million over the forecast period. This is attributable to the presence of a large number of biotechnology and synthetic biology companies in the region.
Asia Pacific is expected to register a significant valuation at the fastest CAGR of 19.91% during the review period. Factors influencing the growth of the region are the vast patient pool suffering from chronic diseases in emerging economies such as India and China. Government initiatives to enhance their medical infrastructure is expected to drive the market over the assessment period consequently.
List Of Tables
TABLE 1 PRIMARY INTERVIEWS 23
TABLE 2 GLOBAL BIOHACKING MARKET BY TYPE, 2014 TO 2023 (USD MILLION) 39
TABLE 3 GLOBAL BIOHACKING MARKET FOR OUTSIDE BIOHACKING BY REGION, 2014 TO 2023 (USD MILLION) 40
TABLE 4 GLOBAL BIOHACKING MARKET FOR INSIDE BIOHAKCING, BY REGION, 2014 TO 2023 (USD MILLION) 40
TABLE 5 GLOBAL BIOHACKING MARKET BY PRODUCT, 2014 TO 2023 (USD MILLION) 41
TABLE 6 GLOBAL SMART DRUGS MARKET BY TYPE, 2014 TO 2023 (USD MILLION) 43
TABLE 7 GLOBAL SENSORS MARKET BY TYPE, 2014 TO 2023 (USD MILLION) 43
TABLE 8 GLOBAL SENSORS MARKET BY REGION, 2014 TO 2023 (USD MILLION) 44
TABLE 9 GLOBAL STRAINS MARKET BY TYPE, 2014 TO 2023 (USD MILLION) 45
TABLE 10 GLOBAL STRAINS MARKET BY REGION, 2014 TO 2023 (USD MILLION) 45
Read Complete Report @ https://www.marketresearchfuture.com/reports/biohacking-market-5155
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar