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Biohacking Market 2019 Worldwide Players as Apple (U.S.), Synbiota (Canada), THE ODIN (U.S.), HVMN, Inc. (U.S.), Fitbit, Inc. (U.S.), MoodMetric (U.S.), and Thync Global Inc. (U.S.), etc | Outlet till 2023

02-04-2019 09:33 AM CET | Health & Medicine

Press release from: Market Research Future

Biohacking Market

Biohacking Market

Market Research Future (MRFR)’s latest Report Projects that the Global Biohacking Market is set to Register a CAGR of 19.42% during the forecast period 2019 to 2023. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Market Insights:

The rapid advancement of the healthcare sector has put increasing focus on personalized medicine and DNA driven treatments. Biohacking or Do-it-Yourself biology refers to the increasingly popular movement where individuals make use of various health practices and personalized medicine to drive optimum body function. Market Research Future has determined that the global biohacking market is set to grow substantially at a CAGR of 19.42% during the review period ranging from 2017 to 2023. The leaps that modern biotechnology is making has been tremendously helpful for the global biohacking market as it provides scope and new techniques in the biohacking market.

The increasing prevalence of chronic diseases and lifestyle-related diseases has been a strong motivator for the growth of the biohacking market. Consumers are increasingly interested in living their healthiest possible life and are investing heavily in tools and techniques that allow the same. It has become increasingly common for consumers to have injectable microchips placed in their body to monitor and control stress levels or heart rate. The growing demand and availability of niche clinics that specialize in personalized medicine have also resulted in a demand for special tests to help determine the best course of treatments.

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The advancement of biotechnology, pharmaceuticals, and other parts of the healthcare sector have resulted in the availability of nearly futuristic medical devices which have a wide range of highly useful applications. Awareness regarding biohacking is also growing steadily, and many advocates for the same have come forward to endorse the many benefits of biohacking which has had a positive impact on the growth of the global biohacking market.

However, the lack of appropriate cybersecurity measures has made it possible for web hackers to leak highly confidential data or access various implants and other medical devices which is highly unsafe. Moreover, several devices and techniques used in biohacking are highly expensive, thus slowing market growth. However, technological advancements and constant development of biotechnology are expected to yield opportunities in an increasingly technology friendly global environment.

Key Players:

Apple (U.S.), Synbiota (Canada), THE ODIN (U.S.), HVMN, Inc. (U.S.), Fitbit, Inc. (U.S.), MoodMetric (U.S.), and Thync Global Inc. (U.S.) are among the leading market players that MRFR has observed and recorded in its report on the global biohacking market.

Market Segmentation:

MRFR's analysis of the biohacking market includes segmentation which has been determined on the basis of type, product, application, end-user, and region. Types of biohacking are primarily segmented into inside biohacking, and outside biohacking. The outside biohacking segment is likely to quadruple in market value by the end of the forecast period and grow at the highest CAGR of 19.72% during the review period.

Products used in biohacking largely include strains, sensors, smart drugs, and others. Smart drugs, also known as nootropics are used to improve cognitive function in the brain. Smart drugs make up the most significant segment in the biohacking market by product and are expected to grow at the highest CAGR of 19.88% during the assessment period.

Applications of biohacking are found in synthetic biology, forensic science, genetic engineering, drug testing, diagnosis & treatment, and others. The synthetic biology segment has been observed to be at the forefront of the global biohacking market and is touted to be growing at the highest CAGR during the forecast period.

End-users of biohacking include forensic laboratories, pharmaceutical & biotechnology companies, and others. The pharmaceutical & biotechnology segment is the largest among other segments by end-users and is expected to maintain its leadership position throughout the forecast period.

Regional Analysis:

The Americas due to their market value of USD 2999.05 Mn are at the forefront of the global biohacking market. The region is expected to retain its leadership role in the market due to the presence of several market leaders as well as the high awareness regarding biohacking in the developed parts of the Americas. The Asia Pacific has been observed to be growing at a rapid pace in an effort to catch up with the Americas. The growth of the APAC market is expected at a CAGR of 19.91% during the assessment period. The healthcare reforms in emerging economies of the region are responsible for the growth of the biohacking market in the APAC region.

Browse Complete Premium Research Report Enabled 157 Pages with 30+ Respective Tables and Figures at https://www.marketresearchfuture.com/reports/biohacking-market-5155

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune – 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com

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