Biohacking Market Size, Share & Analysis Report, 2023-2032
The global biohacking market size was exhibited at USD 26.25 billion in 2022 and is projected to hit around USD 154.58 billion by 2032, growing at a CAGR of 19.40% during the forecast period 2023 to 2032.
Key Takeaways:
Various initiatives by market players and rising funds for biohacking are the major factors fueling the market growth. The adoption of biohacking practices is growing due to their potential applications in decreasing the risk of developing a disease, especially genetically associated diseases, helping an individual to achieve mental, physical, or emotional changes, such as weight loss or reducing depression symptoms; and optimize general functions of the body, such as blood pressure.
The global market has been significantly affected by the COVID-19 pandemic. Some of the major impacts of COVID-19 on the market include supply chain disruptions, a decline in sales, and low demand. However, biohackers in the industry are investing in some research activities for the development of COVID-19 vaccines as well as test kits. This neutralized the market growth in 2020. For the purchase of equipment and materials, biohackers require basic funding. Other than crowdfunding, most of the activities at these labs are self-funded through membership and workshop fees. Furthermore, private donations are also used for raising money.
Oura Health, manufacturer of the Oura ring, a sleep-improvement and sleep tracking platform, raised USD 20 million in Series B funding led by MSD Capital in December 2018. The global market is fairly competitive. Most of the market players have undertaken strategies, such as new product launches, acquisitions, and partnerships, to gain a competitive edge over each other. For instance, in September 2020, Apple Inc. partnered with the government of Singapore for launching a national health initiative using Apple Watch. With this, the country made an effort to leverage technology for delivering advanced health benefits to its citizens.
Report Scope of the Biohacking Market
|
Report Coverage |
Details |
|
Market Size in 2023 |
USD 31.34 Billion |
|
Market Size by 2032 |
USD 154.58 Billion |
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Growth Rate from 2023 to 2032 |
CAGR of 19.40% |
|
Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
Product, application, end user and Geography |
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Companies Mentioned |
Apple Inc.; The ODIN; Thync Global Inc.; Fitbit, Inc.; Moodmetric; HVMN, Inc.; Muse (Interaxon Inc.); Thriveport, LLC; TrackMyStack; OsteoStrong |
Product Insights
The wearables segment held the largest revenue share of over 20.10% in 2022 due to the increased adoption of wearable medical devices, which include smartwatches, patches, and smart rings, among others. The rising focus of market players on this segment will support its growth in the years to come. For instance, in August 2020, Fitbit, Inc. integrated its Fitbit Sense, an advanced health smartwatch with an electrodermal activity sensor, for managing stress, along with advanced heart rate tracking technology, an ECG app, and an on-wrist skin temperature sensor.
The smart drugs segment is expected to account for the maximum revenue share by 2032 growing at the fastest CAGR over the forecast period owing to high demand for these drugs as a result of their memory boosting capacity. Smart drugs consist of nootropics, which are cognitive enhancers. They work by improving memory as well as executive functions. They also motivate people to maintain their health and help in increasing their creativity.
Application Insights
The monitoring segment held the largest revenue share of over 30.10% in 2022 due to the high usage of biohacking products, such as wearables and implants, for monitoring purposes. Mobile apps are also used for monitoring purposes, which supports segment growth. On the other hand, the treatment segment is expected to account for the highest revenue share by 2028 growing at the fastest CAGR of more than 22% during the forecast period.
Although biohacking practices currently are not very popular for treatment purposes, the rising number of research activities for smart drugs and genetic modification kits are expected to contribute to the segment growth. Other applications of biohacking are anticipated to witness steady growth over the forecast period as a result of their increasing adoption. These applications include synthetic biology, genetic engineering, forensic science, and drug testing.
End-user Insights
The hospitals & clinics segment held the largest share of 25.8% in 2022 and will expand further at a steady CAGR from 2023 to 2032. The growth of this segment is credited to the rising prevalence of chronic diseases and the demand for novel treatment options. Furthermore, the easy availability of monitoring devices, such as wearables, is expected to boost the segment growth.
The others segment is expected to record the fastest CAGR of more than 19.50% during the forecast period. The growing adoption of biohacking practices by individual payers and service providers is expected to support the segment growth. The pharmaceutical & biotechnology companies' end-user segment is also expected to demonstrate significant growth due to the rising spending on R&D activities by the pharmaceutical & biotechnology companies for the development of novel treatment options.
Regional Insights
In 2022, North America held the largest revenue share of 39.07% and will retain the leading position throughout the forecast period. The key factors driving the regional market include increased research & development activities by various government as well as non-government organizations for the development of novel treatment options. In addition, the increasing adoption of synthetic biology is expected to fuel market growth.
Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2028 owing to the factors, such as the presence of technologically advanced healthcare infrastructure along with favorable government initiatives. Furthermore, the extensive research & development activities in the emerging economies, such as China and India, will support the regional market growth. The market in Europe is expected to grow significantly owing to the presence of major market players in the region.
Some of the prominent players in the Biohacking Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Biohacking market.
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Biohacking Market, By Product
7.1. Biohacking Market, By Product, 2023-2032
7.1.1. Wearables
7.1.1.1. Market Revenue and Forecast (2018-2032)
7.1.2. Implants (Chips)
7.1.2.1. Market Revenue and Forecast (2018-2032)
7.1.3. Gene Modification Kits
7.1.3.1. Market Revenue and Forecast (2018-2032)
7.1.4. Smart Drugs
7.1.4.1. Market Revenue and Forecast (2018-2032)
7.1.5. Supplements
7.1.5.1. Market Revenue and Forecast (2018-2032)
7.1.6. Mobile Apps
7.1.6.1. Market Revenue and Forecast (2018-2032)
7.1.7. Others
7.1.7.1. Market Revenue and Forecast (2018-2032)
Chapter 8. Global Biohacking Market, By Application
8.1. Biohacking Market, by Application, 2023-2032
8.1.1. Monitoring
8.1.1.1. Market Revenue and Forecast (2018-2032)
8.1.2. Treatment
8.1.2.1. Market Revenue and Forecast (2018-2032)
8.1.3. Research
8.1.3.1. Market Revenue and Forecast (2018-2032)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2018-2032)
Chapter 9. Global Biohacking Market, By End User
9.1. Biohacking Market, by End User, 2023-2032
9.1.1. Pharmaceutical & Biotechnology Companies
9.1.1.1. Market Revenue and Forecast (2018-2032)
9.1.2. Hospitals & Clinics
9.1.2.1. Market Revenue and Forecast (2018-2032)
9.1.3. Forensic Laboratories
9.1.3.1. Market Revenue and Forecast (2018-2032)
9.1.4. Research & Academic Institutes
9.1.4.1. Market Revenue and Forecast (2018-2032)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2018-2032)
Chapter 10.Global Biohacking Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, By Product (2018-2032)
10.1.2. Market Revenue and Forecast, by Application (2018-2032)
10.1.3. Market Revenue and Forecast, by End User (2018-2032)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, By Product (2018-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2018-2032)
10.1.4.3. Market Revenue and Forecast, by End User (2018-2032)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, By Product (2018-2032)
10.1.5.2. Market Revenue and Forecast, by Application (2018-2032)
10.1.5.3. Market Revenue and Forecast, by End User (2018-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, By Product (2018-2032)
10.2.2. Market Revenue and Forecast, by Application (2018-2032)
10.2.3. Market Revenue and Forecast, by End User (2018-2032)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, By Product (2018-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2018-2032)
10.2.4.3. Market Revenue and Forecast, by End User (2018-2032)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, By Product (2018-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2018-2032)
10.2.5.3. Market Revenue and Forecast, by End User (2018-2032)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, By Product (2018-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2018-2032)
10.2.6.3. Market Revenue and Forecast, by End User (2018-2032)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, By Product (2018-2032)
10.2.7.2. Market Revenue and Forecast, by Application (2018-2032)
10.2.7.3. Market Revenue and Forecast, by End User (2018-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, By Product (2018-2032)
10.3.2. Market Revenue and Forecast, by Application (2018-2032)
10.3.3. Market Revenue and Forecast, by End User (2018-2032)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, By Product (2018-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2018-2032)
10.3.4.3. Market Revenue and Forecast, by End User (2018-2032)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, By Product (2018-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2018-2032)
10.3.5.3. Market Revenue and Forecast, by End User (2018-2032)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, By Product (2018-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2018-2032)
10.3.6.3. Market Revenue and Forecast, by End User (2018-2032)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, By Product (2018-2032)
10.3.7.2. Market Revenue and Forecast, by Application (2018-2032)
10.3.7.3. Market Revenue and Forecast, by End User (2018-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, By Product (2018-2032)
10.4.2. Market Revenue and Forecast, by Application (2018-2032)
10.4.3. Market Revenue and Forecast, by End User (2018-2032)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, By Product (2018-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2018-2032)
10.4.4.3. Market Revenue and Forecast, by End User (2018-2032)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, By Product (2018-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2018-2032)
10.4.5.3. Market Revenue and Forecast, by End User (2018-2032)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, By Product (2018-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2018-2032)
10.4.6.3. Market Revenue and Forecast, by End User (2018-2032)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, By Product (2018-2032)
10.4.7.2. Market Revenue and Forecast, by Application (2018-2032)
10.4.7.3. Market Revenue and Forecast, by End User (2018-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, By Product (2018-2032)
10.5.2. Market Revenue and Forecast, by Application (2018-2032)
10.5.3. Market Revenue and Forecast, by End User (2018-2032)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, By Product (2018-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2018-2032)
10.5.4.3. Market Revenue and Forecast, by End User (2018-2032)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, By Product (2018-2032)
10.5.5.2. Market Revenue and Forecast, by Application (2018-2032)
10.5.5.3. Market Revenue and Forecast, by End User (2018-2032)
Chapter 11. Company Profiles
11.1. Apple Inc
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. The ODIN
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Thync Global Inc
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Fitbit, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Moodmetric
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. HVMN, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Muse (Interaxon Inc.)
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Thriveport, LLC
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. TrackMyStack
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. OsteoStrong
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers