Global Biohacking Market By Product (Smart Drugs, Sensors, Strains, Wearables, and Other Products), By Application (Monitoring, Research, Healthcare, Treatment, and Other Applications), By End-User (Pharmaceutical & Biopharmaceutical Companies, Hospitals & Clinics, Research & Academic Institutes, Forensic Laboratories, and Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global Biohacking Market Size was valued at USD 16.0 Billion And is Projected To Reach USD 83.0 Billion By 2032, This market is estimated to register a CAGR of 18.4% between 2023 to 2032.

‘Biohacking’ refers to small-scale biological experiments carried out by an individual or a small group. Small lab-based biological experiments may involve light-sensitive bacteria-based 3-D printing, genetic engineering, or a variety of other biological experiments. Biohackers have created smart drugs, brain sensors, microchips, RFID implants, magnetic fingerprints, smart blood pressure monitors, bacterial and yeast strains, and health trackers to investigate the human mind and body.

Over the forecast period, the biohacking market will likely expand due to several factors, including the prevalence of chronic diseases and the demand for smart devices and drugs. On the other hand, the biohacking market’s expansion may be hindered by a lack of cybersecurity practices.

Nevertheless, the biohacking market is estimated to expand due to the sharp rise in chronic diseases and the growing number of elderly people. Furthermore, the demand for biohacking is anticipated to rise due to the rise in the use of radiofrequency identification (RFID) technology in medical devices and the expansion of the Internet of Things into fitness, healthcare, and consumer electronics. This can be attributed to the public’s demand for high-quality healthcare.

Key Takeaways

• The global biohacking market is growing at a CAGR of 18.4%.
• Market growth drivers include the prevalence of chronic diseases, demand for smart drugs and devices, and the expansion of the Internet of Things (IoT) in healthcare.
• Lack of cybersecurity practices, funding, and strict regulations are potential restraints for the biohacking market.
• Wearables, particularly wearable medical devices, accounted for the largest revenue share at over 34%.
• The monitoring segment dominated the market, holding more than 32% of revenue, with treatment expected to grow at the fastest CAGR.
• Hospitals & clinics represented the largest end-user segment, accounting for 34% of the market.
• North America led the market with a 39% revenue share, followed by Asia Pacific.
• Technological advancements and the rise in neuro-nutrition trends are key drivers, while the lack of cybersecurity practices poses a restraint.
• Apple Inc. launched products with biohacking features, contributing to market growth.

Product Analysis

The Wearables Segment Accounted for the Largest Revenue Share

Due to the growing popularity of wearable medical devices such as patches, smartwatches, and smart rings, the wearables segment accounted for over 34% of all revenue. In the years to come, the segment’s expansion will be aided by the increasing attention paid to it by market players. For instance, Fitbit, Inc. added an ECG app, advanced heart rate tracking technology, and an on-wrist skin temperature sensor to its Fitbit Sense, a health smartwatch with an electrodermal activity sensor for stress management.

The smart drugs segment is anticipated to account for the largest revenue share over the forecast period due to the high demand for these drugs due to their capacity to boost memory. Nootropics make up smart drugs. They are cognitive enhancers and accomplish this by enhancing executive and memory functions. Also, they help people become more creative and encourage health maintenance.

Application Analysis

The Monitoring Segment Dominated the Market with The Largest Revenue Share

Due to the widespread use of biohacking products, such as wearables and implants, for monitoring purposes, the monitoring segment held the largest revenue share, more than 32%. Monitoring is another use for mobile apps, which helps the segment grow. On the other hand, the treatment sector is anticipated to have the highest revenue share, expanding at the fastest CAGR of over 26% over the forecast period.

Despite the fact that biohacking practices are not widely used for treatment, the growing number of studies on smart drugs and genetic modification kits is likely to boost the market. Due to the growing popularity of other biohacking applications, they are anticipated to see steady growth over the forecast period. These applications include forensic science, genetic engineering, synthetic biology, and drug testing.

End-User Analysis

The Hospitals & Clinics Segment Held the Largest Share

The hospitals & clinics segment accounted for the largest share of 34% and will continue to grow at a steady CAGR during the forecast period. The demand for novel treatment options and the rising prevalence of chronic diseases are responsible for this market’s expansion. In addition, it is anticipated that the easy availability of monitoring devices like wearables will boost segment expansion. Forensic laboratories are anticipated to experience the fastest CAGR during the forecast period.

Furthermore, it is anticipated that the expanding use of biohacking practices by individual payers and service providers will aid segment expansion. Due to rising expenditures on research and development (R&D) for creating novel treatment options, the pharmaceutical and biotechnology industry’s end-user segment is also anticipated to experience significant growth.

Key Market Segments

Based on Product

• Smart Drugs
• Sensors
• Strains
• Wearables
• Other Products

Based on Application

• Monitoring
• Treatment
• Research
• Healthcare
• Other Applications

Based on End-User

• Pharmaceutical & Biopharmaceutical Companies
• Hospitals & Clinics
• Research & Academic Institutes
• Forensic Laboratories
• Other End-Users

Drivers

An Increase in Innovative Trends Towards Neuro-Nutrition & Growing Biohacking in The Health & Wellness Space

The primary driving factor anticipated to boost the growth of the global biohacking market is the expansion of innovative trends toward neuro-nutrition and growing biohacking in the health and wellness space. The market’s expansion will also be influenced positively by Internet of Things (IoT) penetration in various sectors, including healthcare and consumer electronics.

In addition, the market’s expansion will be driven by rising demand for smart drugs and devices to meet the high-quality healthcare requirements of a population with a high prevalence of chronic disorders.

Restraints

Lack of Funds, Expertise, and Other Factors Restraint the Market Growth.

During the forecast period, a lack of funds for research, a lack of expertise, strict regulations governing genetic engineering experiments, and a lack of cyber security practices are anticipated to hinder the expansion of the global biohacking market. The fact that these biohacking devices communicate with one another via web services and directly feed data into patients’ medical records is one of the main issues. In addition, a hacker could alter the data entered into the medical record because many web services are not authenticated or encrypted between devices.

Opportunities

Advanced technological developments Lead to a Boost in the Growth of the Market

As a result of biohacking, a desire to expand and modernize advanced products has emerged. It brings together aspects of synthetic biology and technology. To explore brand-new horizons in genetic engineering, biotechnology, and molecular biology, scientists and research subjects are subjected to experiments in the laboratory. For example, biohackers carry out a wide range of experiments on the body, such as inserting microchips to regulate stress levels or monitoring heart rate.

In addition, biohackers are working on several products that look into the human body. Among the great products are microchips, brain sensors, smart drugs, magnetic fingertips, body sensors, bacterial and yeast strains, RFID implants, and health trackers. Wearable analytical technologies are currently widely available. The current generation views biohacking and its devices positively. Biohacking is the use of analytics to monitor metrics such as steps, heart rate, body movement, blood sugar level, and calorie burning. The options for biohacking to monitor one’s physical performance are creative, numerous, and constantly expanding.

Regional Analysis

North America Dominates the Global Biohacking Market During the Forecast Period

North America dominated the market throughout the forecast period with a revenue share of 39%. The expansion of various government and non-government organizations’ R&D efforts to develop novel treatment options is one of the primary drivers of the regional market.

Additionally, the market expansion is anticipated to be fuelled by the growing use of synthetic biology. Due to factors such as technologically advanced healthcare infrastructure and favorable government initiatives, Asia Pacific is projected to be the region’s fastest-growing market during the forecast period.

In addition, the regional market expansion will be aided by extensive R&D efforts in emerging economies such as India and China. Furthermore, due to significant market players in Europe, the market is anticipated to expand significantly.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Apple Inc. Launched the iPad Air with A14 Bionic

To increase their market share, vendors are investing in collaborative agreements, product launches, geographic expansions, and acquisitions. Due to the number of start-ups looking for opportunities in this sector, the market is anticipated to become highly competitive. For instance, Apple Inc. introduced the iPad Air with the A14 Bionic, which features accelerators for machine learning of the second generation.

Listed below are some of the most prominent global biohacking market players.

Market Key Players

• Apple Inc.
• The ODIN
• Thync Global, Inc.
• Moodmetric
• OsteoStrong
• Muse
• Thriveport, LLC
• TrackMyStack
• Other Key Players

Key Industry Developments

• In November 2021- Viome Life Sciences, Inc. launched a new gut microbiome test that analyses the RNA of microbes in the gut. This test provides personalized recommendations for diet and lifestyle changes to improve overall well-being and gut health.
• In October 2021– The Muse S (Gen 2) was launched by IntraXon Inc. It is a new of the original Muse S headband. It is a meditation assistance and sleep tracker which contain a row of sensors that sit against your forehead and detect brain activity.

Report Scope