New York, July 02, 2024 (GLOBE NEWSWIRE) -- Overview:
The Global BioHacking Market size is expected to reach USD 30.3 billion by 2024 and is further anticipated to reach USD 159.1 billion by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 20.2% from 2024 to 2033.
Biohacking, a DIY approach to human better health, includes altering biology to boost health, performance, or well-being. Long-standing methods like practices of intermittent fasting, and modern tech-based biohacking, such as using smartwatches, offer extensive body data to improve health and athletic performance.
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Based on type, the global biohacking market is split into inside and outside biohacking, where outside biohacking is set to lead in 2024 due to its safety and ease. Key forms like supplements, diets, and nutrigenomics, link genetics to diet, minimizing disease risk non-invasively.
The wearables segment is expected to lead in revenue by 2024, driven by the wide adoption of devices like smartwatches & smart rings. In addition, the smart drugs segment, mainly nootropics for memory enhancement, is expected to see the highest growth due to higher demand.
Important Insights
- The BioHacking Market is expected to grow by USD 123.3 billion by 2033 from 2025 with a CAGR of 20.2%.
- The outside biohacking is expected to lead in 2024 with a major revenue & is anticipated to dominate throughout the forecasted period.
- The Wearables segment is anticipated to get the largest revenue share in 2024 in the BioHacking market
- Hospitals and clinics are expected to hold the largest revenue share in 2024 in the BioHacking market.
- North America will lead the biohacking market with a 38.2% revenue share in 2024, driven by large investment on R&D from government and non-government organizations. Asia Pacific emerges fastest, aided by advanced infrastructure and government support. Europe sees significant growth too.
Global BioHacking Market: Trends
- Wearable Technology: Higher adoption of advanced wearable devices that monitor biometric data in real-time, delivering users with insights to optimize their health & performance.
- DIY Biology: Growth in the do-it-yourself biology movement, where individuals and communities experiment with biohacking techniques at home or in community labs, supporting innovation and grassroots involvement.
- Nootropics and Supplements: High popularity of nootropics and biohacking supplements focused on improving mental & physical performance, driving market growth.
- CRISPR and Gene Editing: Development in CRISPR and other gene-editing technologies are becoming more prominent in biohacking, offering the potential for personalized genetic modifications and therapeutic interventions.
BioHacking Market: Competitive Landscape
The biohacking market is evolving rapidly, featuring established healthcare firms and startups. Competition is intense, with a focus on developing advanced wearable devices, personalized nutrition plans, and advanced genetic testing services.
Companies use biotechnology, AI, and data analytics for accurate solutions. Collaborations and partnerships are prevalent for market expansion. DIY biohacking communities contribute grassroots innovation amidst regulatory and ethical challenges.
Some of the major players in the market include HVMN Inc, Thync Global Inc, Apple Inc, Fitbit Inc, TrackmyStack, OsteoStrong, The ODIN, and more.
Some of the prominent market players:
- HVMN
- Thync Global Inc.
- Apple
- Fitbit
- TrackmyStack
- OsteoStrong
- The ODIN
- Thriveport LLC
- Muse
- Moodmetric
- Other Key Players
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BioHacking Market Scope
| Report Highlights | Details |
| Market Size (2024) | USD 30.3 Bn |
| Forecast Value (2033) | USD 159.1 Bn |
| CAGR (2024-2033) | 20.2% |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 38.2% |
| Historical Data | 2017 - 2022 |
| Forecast Data | 2025 – 2032 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Type, By Product, By Application, By End User |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Segment Analysis:
The hospitals and clinics segment is anticipated to hold the largest market share in 2024 and grow steadily due to the higher number of chronic diseases and the need for new treatment options. Access to monitoring devices, like wearables, will further boost this segment's growth.
The "other" segment is expected to grow fastest, driven by individual users and service providers adopting biohacking practices. Also, pharmaceutical & biotechnology companies are expected to see major growth due to substantial R&D investments for innovative treatments.
BioHacking Market Segmentation
By Type
- Inside
- Outside
By Product
- Wearables
- Implants (Chips)
- Gene Modification Kits
- Smart Drugs
- Supplements
- Mobile Apps
- Others
By Application
- Synthetic Biology
- Genetic Engineering
- Forensic Science
- Diagnosis & Treatment
- Drug Testing
By End User
- Pharmaceutical & Biotechnology Companies
- Hospital & Clinics
- Forensic Laboratories
- Research & Academic Institutes
- Others
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Global BioHacking Market: Driver
- Technological Advancements: Rapid development in wearable devices, genetic testing, and biotech tools are making biohacking more accessible & effective, driving market growth.
- Health and Wellness Trends: Growing public interest in personalized health and wellness solutions, driven by a desire for optimized performance and longevity, is enhancing the demand for biohacking products and services.
- Rising Awareness and Education: Higher awareness and understanding of biohacking practices through media, influencers, & educational platforms are supporting more people to explore & adopt biohacking.
- Investment and Funding: Major investments and funding in the biotech and health tech sectors are driving research, development, and commercialization of biohacking technologies and solutions.
Global BioHacking Market: Restraints
- Regulatory and Ethical Concerns: Strict regulations & ethical issues surrounding genetic modification and improvement techniques create many challenges to the biohacking market's growth.
- High Costs: The costly nature of advanced biohacking technologies & treatments can limit accessibility, restricting market expansion to wealthier segments of the population.
- Safety and Health Risks: Potential health risks & safety concerns associated with experimental biohacking practices can deter adoption & raise skepticism among consumers and regulatory bodies.
- Lack of Standardization: The lack of standardized protocols and validated scientific evidence for many biohacking practices can create inconsistent results and lesser credibility within the broader medical community.
Global BioHacking Market: Opportunities
- Personalized Medicine: Development in genomics and biotechnology allows customized biohacking solutions, providing personalized health interventions that can highly improve individual health outcomes.
- Growing Consumer Health Consciousness: Growing public focus on preventive health &wellness creates opportunities for biohacking companies to provide innovative solutions that meet this trend.
- Integration with Digital Health: The combination of biohacking with digital health platforms, like mobile health apps and telemedicine, expands the reach and accessibility of biohacking practices.
- Corporate Wellness Programs: Higher interest from corporations in improving employee well-being & productivity through biohacking initiatives provides a productive market for biohacking products and services tailored to workplace environments.
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Regional Analysis
North America is set to hold the largest revenue share at 38.2% in 2024 and maintain its lead, driven by major R&D activities from government & non-government organizations developing new treatments. The adoption of synthetic biology will further improve market growth in the region.
Asia Pacific is anticipated to be the fastest-growing market due to advanced healthcare infrastructure & supportive government initiatives. Major R&D activities in emerging economies like China & India will also drive market expansion. Further, Europe is anticipated to experience major growth due to the presence of major market players influencing market dynamics.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Recent Developments in the BioHacking Market
- March 2024: ai Inc. acquired rights to AI technology from the biohacking app "Ultiself" to improve Gaxos Health's product offering for better customization.
- December 2023: Estée Lauder launched the Skin Longevity platform based on 15 years of skin research, featuring age-reversal technology. Forming a longevity expert collective for consumer education.
- November 2023: Next Health announced its plans for Australian expansion with 20 new locations in six years through a master franchise agreement led by Dr. Kelly Francis.
- July 2023: Utah, ranked 5th for physical activity in the US, focused on providing ideal conditions for outdoor pursuits. Upgrade Labs Riverton introduces innovative services for enhanced performance and recovery.
- March 2022: Abbott launched Lingo, a consumer bio wearable, to monitor critical body signals like glucose, ketones, and lactate for better health insights.
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