Global Biohacking Market to Surpass US$ 45951.81 Million by 2028, Says Coherent Market Insights (CMI)

SEATTLE, July 21, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global biohacking market is estimated to be valued at US$ 15755.29 Million in 2021 and is expected to exhibit a CAGR of 17% over the forecast period (2021-2028).

Key Trends and Analysis of the Global Biohacking market:

Increasing demand for smart drugs & brain booster drugs is expected to drive the market growth. According to a report published by the American Council on Exercise (ACE), about 50% of the American consumers prefer consuming products that have natural ingredients. For example, Gaia Herbs introduced Bacopa, a new vegan supplement launched in April 2019, which is being used for treating Alzheimer disease symptoms, for improving memory and thinking skills (cognitive function), and for treating anxiety and attention deficit-hyperactivity disorder (ADHD).

Furthermore, key players operating in the global biohacking market are focusing on adoption of inorganic growth strategies like acquisition and collaboration to increase their market presence in the global market. For instance, on April 4, 2020, Fitbit collaborated with Scripps Research and Stanford Medicine to study the role of wearables to detect, track, and contain infectious diseases such as COVID-19.

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Key Market Takeaways:

The global biohacking market is expected to exhibit a CAGR of 17 % during the forecast period owing to rising technological advancements. In October 2014, Pulsaderm LLC, received FDA approval for its Red LED. This LED Red Light Therapy device is used to target fine lines, wrinkles, and crow's feet symptoms and help in improving the skin texture.

Among End User, Pharmaceutical & Biotechnology companies are leading the segment. The prevalence of diseases coupled with increasing geriatric population has fueled the biohacking market in pharmaceutical & biotechnology companies. For instance, 11.5 million adults aged above 65 years were diagnosed with diabetes in the U.S. as per the National Diabetes Statistics Report, 2020.

Companies Covered:

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

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Market Segmentation:

• Global biohacking market, By Type:

  • Inside

  • Outside

• Global biohacking market, By Product:

  • Smart Drugs

  • Sensors

  • Strains

  • Others

• Global biohacking market, By Application:

  • Synthetic Biology

  • Genetic Engineering

  • Forensic Science

  • Diagnosis & Treatment

  • Drug Testing

• Global biohacking market, By End User:

  • Pharmaceutical & Biotechnology Companies

  • Forensic Laboratories

  • Others

• Global biohacking Market, By Region:

  • North America

    • By Country

      • U.S.

      • Canada

  • Latin America

    • By Country

      • Brazil

      • Mexico

      • Argentina

      • Rest of Latin America

  • Europe

    • By Country

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Russia

      • Rest of Europe

  • Asia Pacific

    • By Country

      • China

      • India

      • Japan

      • Australia

      • South Korea

      • ASEAN

      • Rest of Asia Pacific

  • Middle East

    • By Country

      • GCC

      • Israel

      • Rest of Middle East

  • Africa

    • By Country

      • South Africa

      • Central Africa

      • North Africa
        
        

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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