Biohacking Global Market Report 2024

Biohacking, also recognized as human augmentation or human enhancement, represents a form of self-directed biology focused on enhancing abilities, fitness, and overall wellbeing through purposeful and intentional interventions.

The primary product types encompass wearables, implants (chips), gene modification kits, smart drugs, supplements, mobile apps, and other related products. Wearables denote electronic devices worn as accessories that aid in body tracking and health monitoring. These devices consist of various components, including solutions and services, catering to multiple applications such as synthetic biology, genetic engineering, forensic science, diagnosis and treatment, and drug testing. These products and services find utilization across diverse sectors including pharmaceutical and biotechnology companies, hospitals and clinics, forensic laboratories, research and academic institutes, and other end users, contributing significantly to advancements in the field of health, science, and technology.

The biohacking report is one of a series of new reports from The Business Research Company that provides biohacking statistics, including biohacking industry global market size, regional shares, competitors with a biohacking share, detailed biohacking segments, market trends and opportunities, and any further data you may need to thrive in the biohacking industry. This biohacking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biohacking market size has grown exponentially in recent years. It will grow from $29.42 billion in 2023 to $36.41 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The surge during the historical period can be credited to heightened health consciousness, improved information accessibility, a burgeoning entrepreneurial ethos, the quantified self movement, DIY biology, and the maker culture, all contributing to growth.

The biohacking market size is expected to see exponential growth in the next few years. It will grow to $86.53 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The forecasted growth is driven by longevity and anti-aging focus, nootropics, mainstream adoption, corporate wellness, and evolving regulations. Key trends include biohacking for longevity, wearables, nootropics, sleep optimization, and genetic editing such as CRISPR.

The escalating prevalence of chronic diseases is anticipated to be a significant driver propelling the expansion of the biohacking market in the foreseeable future. Chronic diseases encompass conditions persisting for extended periods, often deteriorating over time. Biohacking methodologies such as optimizing nutritional intake, intermittent fasting, hydrogen inhalation therapy, and other approaches have shown potential in combatting diseases such as cancer and other chronic ailments. For instance, in January 2023, the National Centre for Biotechnology Information (NCBI), a division of the US-based National Library of Medicine, projected a staggering 99.5% increase in individuals aged 50 years and older with at least one chronic illness by the year 2050. This projection foresees a surge from 71.522 million individuals in 2020 to 142.66 million individuals. Consequently, this rising prevalence of chronic diseases is identified as a key catalyst propelling the growth trajectory of the biohacking market.

The increasing demand for advanced wearable devices is expected to drive the growth of the biohacking market in the future. Wearable devices, electronic gadgets worn on the human body that communicate with other devices to transmit or gather data, play a crucial role in biohacking. These devices provide real-time data on various bodily functions, empowering users to optimize their health and performance through personalized insights and interventions. For example, in November 2022, Vicert, a US-based digital health solution software company, reported that 533.6 million wearable devices were shipped in 2021, encompassing various devices such as watches, hearing aids, and other assistive devices. The hearables or earwear category is anticipated to experience substantial growth, reaching 105 million devices by 2023. This surge in the demand for advanced wearables underscores their significant role in fueling the growth of the biohacking market. As individuals increasingly seek personalized health insights and interventions, wearable devices become indispensable tools for biohackers, contributing to the expansion of the biohacking market.

The anticipated increase in the adoption of biohacking practices by consumers is expected to drive the growth of the biohacking market. Biohacking practices, including techniques such as meditation and intermittent fasting, are gaining popularity for their reported benefits, such as increased mental focus, heightened drive and energy, and improved overall bodily efficiency, aiding in the body's ability to combat illness. For instance, the meditation market in the United States is forecasted to reach $2.08 billion by 2022, according to WebWire, a US-based online news channel. This projection underscores the growing interest and adoption of biohacking practices among consumers. As individuals seek ways to enhance their mental and physical well-being through biohacking strategies, the market is expected to expand to meet the rising demand. The adoption of biohacking practices is becoming a significant driver in propelling the growth of the biohacking market.

The biohacking market is witnessing a significant surge in the adoption of product advancements, emerging as a pivotal trend. Key players in the biohacking sector are strategically focusing on innovating new products to enhance their market positioning. An illustrative example is Velovita, a prominent US-based biohacking solutions provider, which, in January 2022, unveiled Zlem-an advanced dietary supplement bio-hacking formula designed to facilitate quality sleep and weight management. Zlem boasts a potent formulation comprising over 20 ingredients, aimed at promoting improved sleep, fat burning during nighttime rest, and the elimination of bodily impurities. The product further contributes to cultivating a balanced and healthy mental state for users each morning.

Major players within the biohacking market are concentrating on cutting-edge solutions, such as research-grade technology, to elevate innovation and precision in biotechnology applications. Research-grade technology encompasses high-quality equipment, tools, or instruments explicitly designed for scientific research purposes, characterized by superior precision, accuracy, and reliability. An exemplar of this strategic approach is Interaxon Inc., a prominent US-based consumer neurotechnology and meditation company. In October 2021, the company unveiled the second generation of its acclaimed EEG meditation and sleep headband, Muse S. This enhanced plush headband, featuring advanced brain-sensing technology, delivers real-time biofeedback to aid in mastering meditation techniques and enhancing sleep quality. Muse operates as an intelligent headband, leveraging sophisticated EEG sensors to monitor brain activity. It provides instantaneous feedback through gentle audio cues via connected headphones, facilitating the process of falling asleep, maintaining sleep, and even returning to sleep if disrupted during the night.

Major companies operating in the biohacking market report are Apple Inc., Nootropics Depot LLC, LifeLabs Medical Laboratory Services, Fitbit Inc., NOW Foods LLC, Thorne Research Inc., Primal Life Sciences Inc., OsteoStrong LLC, Jarrow Formulas Inc., Athletic Greens Inc., Wild Health Inc., Perfect Keto LLC, BioXcel Therapeutics Inc., Mind Lab Pro LLC, Elysium Health Inc., Thync Global Inc., HVMN Inc., Thriveport LLC, Kaatsu Global Inc., Beeblesoft Ltd., Interaxon Inc., SynBioBeta LLC, Behavioral Tech Corporation, Synbiota Inc., uBiome Corporation, InsideTracker Inc., Neuralink Corporation, LifeNome Inc., Pure Encapsulations LLC, Bioquark Inc.

North America was the largest region in the biohacking market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the biohacking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the biohacking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The biohacking market consists of sales of TrueDark glasses, sleep systems, skin care systems, and supplements. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Biohacking Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on biohacking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for biohacking ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biohacking market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Wearables; Implants (Chips); Gene Modification Kits; Smart Drugs; Supplements; Mobile Apps; Other Products
• 2) By Component: Solution; Services
• 3) By Application: Synthetic Biology; Genetic Engineering; Forensic Science; Diagnosis and Treatment; Drug Testing
• 4) By End-User: Pharmaceutical and Biotechnology Companies; Hospitals and Clinics; Forensic Laboratories; Research and Academic Institutes; Other End Users
• Companies Mentioned: Apple Inc.; Nootropics Depot LLC; LifeLabs Medical Laboratory Services; Fitbit Inc.; NOW Foods LLC
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.