Wearable Technology Are Creating a Pathway for Embedded Technology, And Helps in Tracing Human Health to Boost the Biohacking Market Growth

Biohacking Market 

The Global Biohacking Market, by Type (Inside and Outside), by Product (Smart Drugs, Sensors, Strains, and Others), by Application (Synthetic Biology, Genetic Engineering, Forensic Science, Diagnosis & Treatment, and Drug Testing), by End User (Pharmaceutical & Biotechnology Companies, Forensic Laboratories, and Others) by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America) was valued at US$ 15755.29 Million in 2021 and is projected to exhibit a CAGR of 17 % during the forecast period (2021-2028).

Market Overview:

Biohacking is a kind of do-it-yourself for human improvement or growth, in which an individual tries to change aspects of their ecology to enhance their well-being, performance, or comfort. Roughly some kinds of biohacking have been over for several years, such as intermittent fasting.

Competitive Landscape:

Key players involved in the growth of global biohacking market are MoodMetric, THE ODIN, Thync Global Inc., Synbiota, Apple Inc., HVMN, and Fitbit, Inc.

Market Key Drivers:

Wearable technology are creating a pathway for embedded technology, and helps in tracing human health and others which is expected to augment the growth of global biohacking market. For instance, the Technology Acceptance Model introduced by the scientists are employed to explain the reasons impacting the acceptance of nearly all technological innovations.

Rising electronic tattoos, operations and RFID grafts are all kind of Biohacking which are projected to boost the growth of global market. For instance, a normal human ear can listen sounds with frequency of 20-20000 Hz, due to the technical advancements and developments that occur.

The global biohacking market is estimated to be USD 15755.29 Million in 2021 and is expected to reach USD 45951.81 million by 2028 to grow at a CAGR of 17% during the forecast period (2021 –2028).

COVID-19 outbreak has adversely affected several industries across the globe. The companies involved in the global market are experiencing major limitations on several fronts owing to the COVID-19 outbreak. As per the COVID-19 update by the WHO, the number of Coronavirus cases across the globe, as of June 17, 2021 were around 176,531,710.

Key Takeaways:

The global market is anticipated to exhibit a CAGR of XX % during the forecast period owing to collaborations, frequent approvals and quick launches of products, and product innovations. For instance, in May 2020, Philips introduced next generation wearable biosensor that evaluates essential signs, position and activity while permitting patient movement, help early patient health identification.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in the global market due to rising demand product launches, collaborations and increasing partnerships and rising chronic diseases such as cancer which can be reduced by biohacking methods. For instance, as per WHO, around 19.3 million active cancer cases were, and over 10.0 million cancer fatalities were noticed in 2020 in U.S.