The Biohacking Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biohacking Global Market Report 2024, The biohacking market size has grown exponentially in recent years. It will grow from $29.42 billion in 2023 to $36.41 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth in the historic period can be attributed to increased health awareness, access to information, entrepreneurial culture, quantified self movement.
The biohacking market size is expected to see exponential growth in the next few years. It will grow to $86.53 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to longevity and anti-aging focus, nootropics and cognitive enhancement, mainstream adoption, corporate wellness programs, regulatory landscape. Major trends in the forecast period include biohacking for longevity and anti-aging, biohacking wearables and devices, nootropics and cognitive enhancement, biohacking for sleep optimization, genetic editing and CRISPR technology.
The rising prevalence of chronic diseases is expected to propel the growth of the biohacking market going forward. Chronic diseases are conditions or illnesses that often last for three months or longer and have the potential to get worse over time. Biohacking methods such as improving the nutrition of the body, intermittent fasting, hydrogen inhalation therapy, and others can help to fight cancer and other chronic diseases. For instance, in January 2023, according to National Centre for Biotechnology Information (NCBI), a US-based National Library of Medicine, It is projected that by the year 2050, the number of individuals aged 50 years and above who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the rising prevalence of chronic diseases is driving the growth of the biohacking market.
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The biohacking market covered in this report is segmented –
1) By Product: Wearables, Implants (Chips), Gene Modification Kits, Smart Drugs, Supplements, Mobile Apps, Other Products
2) By Component: Solution, Services
3) By Application: Synthetic Biology, Genetic Engineering, Forensic Science, Diagnosis and Treatment, Drug Testing
4) By End-User: Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, Forensic Laboratories, Research and Academic Institutes, Other End Users
Product advancement is a key trend gaining popularity in the biohacking market. Major companies operating in the biohacking sector are focused on new product advancements to strengthen their position in the market. For instance, in January 2022, Velovita, a US-based biohacking solutions provider, introduced Zlem, a dietary supplement bio-hacking formula for quality sound sleep and weight management. Zlem is a potent supplement with more than 20 ingredients that can help users sleep better and burn fat that has accumulated in the body while resting at night. This product also helps the body get rid of impurities and gives users a balanced, healthy state of mind every morning.
The biohacking market report table of contents includes:
1. Executive Summary
2.Biohacking Market Characteristics
3.Biohacking Market Trends And Strategies
4.Biohacking Market analysis
5.Biohacking Market Size And Growth
6.Biohacking Segmentation
7.Biohacking Regional And Country Analysis
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27.Biohacking Competitive Landscape And Company Profiles
28.Biohacking Key Mergers And Acquisitions
29.Biohacking Future Outlook and Potential Analysis
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