Key factors, such as the innovative trends of neuro-nutrition & growing biohacking in the health & wellness space, are likely to contribute to the growth of the market. Penetration of the Internet of Things in healthcare, fitness, and consumer electronics such as fitness bands also boosts the market growth. Rising demand for smart devices and effective drugs to meet the daily healthcare needs amongst the population and the prevalence of chronic disorders are factors driving the market growth. The COVID-19 pandemic has led to a surge in market growth for the pharma industries engaged in biohacking.
However, strict government regulations governing the genetic engineering experiments, lack of funds required for research, and lack of expertise are likely to hinder the market growth. Cybersecurity practices are expected to pose a challenge for the biohacking market.
The Global Biohacking Market is segmented further based on Product, Application, Type, End-User, and Geography.
By Product, the market is classified as Sensors, Smart Drugs, Strains & Others. Amongst all, the Smart Drugs segment is estimated to hold the highest market share.
By Application, the market is segmented as Synthetic Biology, Forensic Science, Genetic Engineering, Diagnosis & Treatment, and Drug Testing. Diagnosis & Treatment is estimated to hold the highest market share during the forecast period.
By Type, the market is classified as Inside and Outside Biohacking. The Outside Biohacking segment holds the highest market share.
By End User, the market is classified as Pharmaceutical & Biotechnology Companies, Forensic Laboratories, and Others. Amongst all, the Pharmaceutical & Biotechnology Companies segment is estimated to hold the highest market share.
By Geography, North American countries followed by the nations in the European region accounted for the dominant share of the market.
Recent Developments 1. Fitbit Collaborates with Scripps Research and Stanford Medicine to Study the Role of Wearables to Detect, Track and Contain Infectious Diseases like COVID-19. - 4th April 2020 2. InteraXon announced a new product launch - Muse S, a Meditation Sleep Headband. - 9th January 2020
Some of the companies covered in this report are Apple, THE ODIN, Thync Global, Fitbit, Synbiota, Moodmetric, HVMN, InteraXon Inc, etc.
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Biohacking Market.
The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.
A complete analysis of the market, including parent industry
Important market dynamics and trends
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview 4.1 Introduction 4.2 Market Dynamics 4.2.1 Drivers 18.104.22.168 Innovative Trends of Neuro-Nutrition and Biohacking in The Wellness Space 22.214.171.124 Increase in The Use of Radiofrequency Identification (RFID) Technology in Medical Devices 126.96.36.199 Rising Demand for Smart Devices and Drugs 188.8.131.52 Penetration of Internet of Things (IoT) In Healthcare, Fitness, and Consumer Electronics 4.2.2 Restraints 184.108.40.206 Stringent Government Regulations Governing the Genetic Engineering Experiments 220.127.116.11 Lack of Funds Required for Research 18.104.22.168 Lack of Expertise 4.2.3 Opportunities 22.214.171.124 Lab Experiments with The Use of Medical, Nutritional, and Electronic Technique 126.96.36.199 Advancement in Technologies 188.8.131.52 The Sharp Rise in Chronic Diseases Coupled with The Growing Geriatric Population 4.2.4 Challenges 184.108.40.206 Cyber Security Concerns 4.3 Trends
5 Market Analysis 5.1 Porter's Five Forces Analysis 5.2 Impact of COVID-19 5.3 Ansoff Matrix Analysis
6 Global Biohacking Market, By Product 6.1 Introduction 6.2 Smart Drugs 6.3 Sensors 6.4 Strains 6.5 Others
7 Global Biohacking Market, By Application 7.1 Introduction 7.2 Synthetic Biology 7.3 Genetic Engineering 7.4 Forensic Science 7.5 Diagnosis & Treatment 7.6 Drug Testing
8 Global Biohacking Market, By Type 8.1 Introduction 8.2 Inside 8.3 Outside
9 Global Biohacking Market, By End User 9.1 Introduction 9.2 Pharmaceutical & Biotechnology Companies 9.3 Forensic Laboratories 9.4 Others
10 Global Biohacking Market, By Geography 10.1 Introduction 10.2 North America 10.2.1 US 10.2.2 Canada 10.2.3 Mexico 10.3 South America 10.3.1 Brazil 10.3.2 Argentina 10.4 Europe 10.4.1 UK 10.4.2 France 10.4.3 Germany 10.4.4 Italy 10.4.5 Spain 10.4.6 Rest of Europe 10.5 Asia-Pacific 10.5.1 China 10.5.2 Japan 10.5.3 India 10.5.4 Indonesia 10.5.5 Malaysia 10.5.6 South Korea 10.5.7 Australia 10.5.8 Russia 10.5.9 Rest of APAC 10.6 Rest of the World 10.6.1 Qatar 10.6.2 Saudi Arabia 10.6.3 South Africa 10.6.4 United Arab Emirates 10.6.5 Latin America