Hacking Biology: Biohacking Market Outlook 2024

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 growth in the historic period can be attributed to increased health awareness, access to information, entrepreneurial culture, quantified self movement.

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 growth in the forecast period can be attributed to longevity and anti-aging focus, nootropics and cognitive enhancement, mainstream adoption, corporate wellness programs, regulatory landscape. Major trends in the forecast period include biohacking for longevity and anti-aging, biohacking wearables and devices, nootropics and cognitive enhancement, biohacking for sleep optimization, genetic editing and CRISPR technology.

Market Overview -
Biohacking, also known as human augmentation or human enhancement, is a type of do-it-yourself biology that aims to improve ability, fitness, and wellbeing through intentional interventions.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=7316&type=smp

Escalating Prevalence Of Chronic Diseases Enhance Biohacking Market
The rising prevalence of chronic diseases is expected to propel the growth of the biohacking market going forward. Chronic diseases are conditions or illnesses that often last for three months or longer and have the potential to get worse over time. Biohacking methods such as improving the nutrition of the body, intermittent fasting, hydrogen inhalation therapy, and others can help to fight cancer and other chronic diseases. For instance, in January 2023, according to National Centre for Biotechnology Information (NCBI), a US-based National Library of Medicine, It is projected that by the year 2050, the number of individuals aged 50 years and above who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the rising prevalence of chronic diseases is driving the growth of the biohacking market.

Competitive Landscape -
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., 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.

Rising Popularity Of Biohacking Practices Fuels Market Growth
Increasing adoption of biohacking practices by consumers is expected to propel the growth of the biohacking market going forward. Biohacking practices such as meditation and intermittent fasting help with increasing mental focus, provide increased drive and energy, and help the body work efficiently, making it easier to fight illness. For instance, according to WebWire, a US-based online news channel, the size of the meditation market in the US is predicted to reach $2.08 billion by 2022. Therefore, the increasing adoption of biohacking practices by consumers is driving the growth of the biohacking market.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/biohacking-global-market-report

Key Segments -

The biohacking market covered in this report is segmented -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.