Human Enhancement Market Business Analysis, Growth and Forecast Report

The global human enhancement market reached a value of $64.8 billion in 2019 and it is predicted to generate a revenue of $271.6 billion by 2030. According to the estimates of the market research firm, P&S Intelligence, the market will progress at a CAGR of 14.7% between 2020 and 2030. The rising incidence of neurological diseases and the growing usage of exoskeletons in rehabilitation centers are the major factors fueling the expansion of the market across the world.

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Apart from the aforementioned factor, the increasing usage of bionic lenses by the blind and the visually impaired people is also creating lucrative growth opportunities for the players operating in the human enhancement market. These devices have the ability to significantly improve the vision of patients suffering from visual impairment by three times. For instance, Ocumetics Technology Corp., which is a developer of ophthalmic aids based in Canada, produced a bionic lens that can restore vision at all distances.

When application is taken into consideration, the human enhancement market is categorized into defense, industrial, and healthcare. Out of these, the defense category is predicted to demonstrate the fastest growth in the market in the upcoming years. This will be because of the fact that human enhancement systems are widely used in defense applications, on account of their ability to provide mobility, strength, safety, and endurance to soldiers and defense personnel.

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Across the globe, the human enhancement market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. This will be due to the mushrooming demand for connected wearable devices, on account of the rapid fall in their prices and the surging penetration of the internet, in the regional countries. On the other hand, the highest market advancement will be observed in North America in the upcoming years, as per industry experts.

Hence, it can be said with full confidence that the market will register substantial growth all over the world in the coming years, primarily because of the rising incidence of neurological diseases, the soaring geriatric population, and the extensive usage of exoskeletons in rehabilitation centers around the world.

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This release was published on openPR.