USD 16.89 billion
Biohacking Market Size, Share, Growth Analysis, By Product(Wearable [Wearable Neurotech, Oura Ring, Muse Headband, Others]), By Application(Synthetic Biology, Genetic Engineering, Forensic Science, Diagnosis & Treatment), By End-use(Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Forensic Laboratories, Research & Academic Institutes), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2217 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
59
|Figures:
75
Biohacking Market Insights
Biohacking Market size was valued at USD 20.7 billion in 2022 and is poised to grow from USD 24.53 billion in 2023 to USD 95.38 billion by 2031, growing at a CAGR of 18.50% during the forecast period (2024-2031).
Biohacking market is a witnessing substantial growth in the past few years, impacted by the improvements in biotechnology, growing interest in personal optimization, and rising health awareness. As consumers are becoming aware of healthy life and overall wellness, the demand for self-improvement techniques and personalized health solutions is considerably increasing. Improvements in data analysis, biotechnology, and wearable solutions have increased the effectiveness and accessibility of biohacking. In addition, the growing geriatric population on the global scale is demanding better health optimization, longevity, and prevention of diseases, thus majorly impacting the demand for biohacking technologies. Furthermore, individuals are actively becoming concerned about their wellness and health, resulting in adopting techniques and devices that enhance their quality of life.
Nevertheless, the biohacking market is projected to be hindered by challenges associated with regulations, poor education and low awareness, and significantly priced biohacking solutions. The biohacking domain is notably restrained by strict regulatory issues, especially the ones associated with health claims and genetic modifications. Most potential users of biohacking solutions may lack knowledge or understanding on numerous biohacking practices. This is yet another restraining factor for the growth of the biohacking market. Also, significant price of improved biohacking solutions may prevent most consumer segment from adopting. Yet, the market is opportune to factors like growing demand for personalized health solutions, growing alliance with healthcare providers, and progressing nutraceuticals and supplements market.
US Biohacking Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Implants
Fastest Growth
Implants
Growth Rate
19% CAGR
Global Biohacking Market ($ Bn)
Country Share for North America Region (%)
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Biohacking Market Segmental Analysis
Global Biohacking Market is segmented by Product, Application, application, end user and region. Based on Product, the market is segmented into Wearables, Implants, Gene Modification Kits, Smart Drugs, Supplements, Mobile Apps, and Others. Based on Application, the market is segmented into Synthetic Biology, Genetic Engineering, Forensic Science, Diagnosis & Treatment, and Drug Testing. Based on End-use, the market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Forensic Laboratories, and Research & Academic Institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Biohacking Market Analysis by Product
Based on product, the biohacking market is categorized into wearable, implants, gene modification kits, smart drugs, supplements, mobile apps, and others. The implants segment held a notable market share in 2023 and is projected to continue dominance in future as well owing to technological improvements in biocompatibility, personalization, and increased demand for better health monitoring solutions. Advancements in biocompatibility and materials are enhancing the safety and effectiveness of implants, thus raising their demand for adoption. Implants can be easily tailored to cater to the growing demand and personalized needs. This attracts consumers who demand tailored health solutions. Implants also offer continuous data collection and health monitoring that comply with biohacking objectives for enhancing personal health.
On the other hand, the supplements segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to easy accessibility, growing consumer awareness, and better personalization. Supplements are broadly available and can be easily accessed by users to include in their daily lives and routines. This increases the prominence of supplements, thus the segmental growth. Growing awareness among consumers regarding the importance of nutrition in health is significantly driving the demand for dietary supplements that improve energy, performance, and overall well-being. Most supplements are promoted as tailored solutions for certain health goals, thus attracting users aiming for personalized and customized products.
Biohacking Market Analysis by Application
Based on application, the market is segmented into synthetic biology, genetic engineering, forensic science, diagnosis & treatment, and drug testing. The diagnosis & treatment segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to technological improvements in treatment methods, rising emphasis on preventive health, and trend for personalized medicine. Improvements in different treatment methods and diagnostic tools, comprising smart devices and wearable devices is enhancing personalization and accuracy for health tracking. Increased focus on preventive measures and early diagnosis of diseases is propelling the demand for more effective solutions that help in monitoring health. Moreover, personalized healthcare solutions are also backing the growth of biohacking market due to the growing interest in individual health needs.
On the other hand, the genetic engineering segment will hold a remarkable market share in the coming years owing to innovative technologies like CRISPR, growing research and development investment, and a high focus on the prevention of diseases. Innovations in gene editing technologies and CRISPR enable accurate changes that attract major investment and interest in advances. Also, rising funding from private and public sectors is triggering speedy advancements in genetic research, thus fostering the emergence of novel applications. Improvements in genetic engineering are also aiding more proactive methods for the management and prevention of diseases, thus improving overall health results.
Global Biohacking Market Size By Application
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Biohacking Market Regional Insights
Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the region being home to many innovations and the presence of several technology companies and research institutes. A higher level of consumer awareness is also driving the market growth in the region. Ultimately, this demands the use of biohacking solutions that aim for health optimization. North America also holds a diverse population with different health demands, thus creating a market for more personalized products. The key players profiled in the region include Bulletproof, Oura Ring, InsideTracker, Thryve, Elysium Health, Viome, HVMN, and more.
Asia-Pacific is the fastest-growing region in the global biohacking market due to the growing health awareness, speedy urbanization, improvements in technology in wearables, and heavy investments in biotechnology. The rising awareness for wellness and health among the growing consumer base is notably driving the demand for biohacking techniques. Growing urbanization is also resulting in different health challenges and lifestyle changes. This triggers interest in wellness technologies and personal health optimization. Also, growing adoption of different health applications and wearable devices is boosting their availability, hence, the market growth in the region. Besides, growing disposable income of consumers resulting in increased spending power in supplements and wellness products is propelling the market growth in the region.
Global Biohacking Market Size By Geography
- Largest
- Fastest
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Biohacking Market Dynamics
Biohacking Market Drivers
Growing Initiatives for Consumer Education
- Currently, there is a growing understanding and awareness for better health and wellness and the importance of nutrition. Diverse age groups are following the trend of supplements and nutrition consumption in their daily diet. This is resulting in increased demand for practices and products that improve performance and the health of individuals. People are also actively adopting preventive health measures, finding approaches to improve their mental and physical wellness via biohacking.
Innovative Devices and Improvements in Genetic Engineering
- Speedy improvements in mobile health, wearable devices and technologies, and several diagnostic tools have increased the accessibility of biohacking. These solutions or technologies help consumers to track and effectively enhance their health metrics. Moreover, innovations in biotechnology and gene editing offer novel techniques, attracting interest from both investors and consumers, thus impacting the market.
Biohacking Market Restraints
High Priced Advanced Technologies and Investment Barriers
- Most biohacking solutions, especially the ones that comprise advanced wearable devices and genetic engineering could be significantly priced. This could possibly restrict access for some consumer groups. Also, smaller companies may find it difficult to invest in modernized products of biohacking, which could restrict the growth of the market. Hence, such investment barriers may hamper the emergence of novel products and innovations.
Regulatory Compliance and Data Concerns
- Biohacking often comprises the gathering and analysis of personal health data, increasing concerns for data security and privacy. This may create hesitation among consumers and hamper or slow down the adoption of advanced biohacking solutions. Companies’ navigation through complicated data protection standards may add to the overall operational costs, thus limiting the growth of the market.
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Biohacking Market Competitive Landscape
The global biohacking market is progressing, entailing a broader range of companies like startups and well-established players, who are engaged in offering new solutions and techniques to consumers aimed at better health and lifestyle. Nutraceutical companies like Nutritional Biochemistry and Garden of Life are focusing on dietary products and supplements for better health. Wearables manufacturing companies like Garmin, Fitbit, and Apple are also engrossed in delivering solutions and devices that effectively track diverse health metrics. Other companies profiled in the market are focusing on initiatives for consumer education, and partnerships, and innovations to distinguish themselves among others.
Biohacking Market Top Player’s Company Profiles
- Apple Inc.
- The ODIN
- Thync Global Inc.
- Nuanic
- HVMN Inc.
- Muse (Interaxon Inc.)
- Thriveport, LLC
- OsteoStrong
- TrackMyStack
- Synbiota Inc. (Canada)
- Bulletproof 360, Inc. (US)
- Keto Mojo (US)
- Neurohacker Collective (US)
- BioViva USA Inc. (US)
- Quantified Self Labs, Inc. (US)
- Moodmetric (Finland)
- HumanCharger (Finland)
- Modius Health (UK)
- Emotiv Inc. (US)
- Circadia Health (US)
Biohacking Market Recent Developments
- In November 2021, biohacking start-up Elysium Health launched a direct-to-consumer genetic testing kit called Index. The kit provides insights into genetic predispositions for various health conditions and offers personalized recommendations for improving overall well-being.
- In September 2021, a team of researchers from the University of Washington developed a contact lens with built-in electronics that can monitor glucose levels in tears. The non-invasive and continuous monitoring system offers a potential alternative for people with diabetes who currently rely on frequent finger-prick tests.
Biohacking Key Market Trends
- Cognitive Enhancement and Nootropics: The demand for nootropics or cognitive enhancers has considerably increased. These substances contain supplements, natural compounds, and pharmaceuticals and are demanded for their potential to enhance memory, focus, and overall brain function. Novel combinations and formulations of nootropics are being developed, thus satisfying the group of individuals who want to boost their mental health.
- Supplements and Personalized Nutrition: Improvements in microbiome and genetic testing are propelling the inclination towards more personalized nutrition. Most companies are engaged in offering customized solutions and supplement routines depending on microbiome composition, personal genetic profiles, and certain health targets. This technique optimizes health by confirming that users obtain the required nutrients their bodies essentially need instead of being dependent on generic products.
Biohacking Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the biohacking market is considerably progressing due to the growth of wearable technology, consumer empowerment like taking charge of one’s own body and maintaining optimal health, and improvements in wearable technology, data analytics, and biotechnology. Furthermore, the market is also fueled by the growing elderly population that demands longevity, health optimization, and prevention of diseases. However, the market is hampered by the high-priced biohacking solutions, lack of education, low awareness, and ethical concerns about gene editing. North America is anticipated to lead the market due to the robust regulatory framework, diverse population that demands different health needs, and increased consumer awareness and educated consumer base. Nonetheless, a few opportunities for the growth of the biohacking market include growing research and development, expansion in the progressing markets, and increasing access to biohacking solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 20.7 billion |
| Market size value in 2031 | USD 95.38 billion |
| Growth Rate | 18.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biohacking Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biohacking Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biohacking Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biohacking Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biohacking Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biohacking Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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