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According to The Business Research Company’s research report on the biohacking market, increasing adoption of biohacking practices by consumers is expected to propel the growth of the biohacking market going forward. Biohacking practices such as meditation and intermittent fasting help with increasing mental focus, provide increased drive and energy, and help the body work efficiently, making it easier to fight illness. For instance, according to WebWire, a US-based online news channel, the size of the meditation market in the US is predicted to reach $2.08 billion by 2022. Therefore, the increasing adoption of biohacking practices by consumers is driving the growth of the biohacking market.
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The global biohacking market size is expected to grow from $18.80 billion in 2021 to $23.20 billion in 2022 at a compound annual growth rate (CAGR) of 23.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The biohacking market is expected to grow to $51.53 billion in 2026 at a CAGR of 22.1%.
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.
Major players in the biohacking market are Thync Global Inc., Fitbit Inc., OsteoStrong, HVMN Inc., Thriveport LLC, Apple Inc., Kaatsu Global, TrackMyStack, Interaxon Inc, SynBioBeta LLC, Elysium Health, InteraXon Inc., Behavioral Tech, Synbiota, and Primal Life Sciences.
The global biohacking market is segmented by product into wearables, implants (chips), gene modification kits, smart drugs, supplements, mobile apps, other products; by component into solution, services; by application into synthetic biology, genetic engineering, forensic science, diagnosis and treatment, drug testing; by end-user into pharmaceutical and biotechnology companies, hospitals and clinics, forensic laboratories, research and academic institutes, other end users.
North America was the largest region in the biohacking market in 2021. North America is expected to be the fastest-growing region in the biohacking market during the forecast period. The regions covered in the biohacking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Biohacking Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide biohacking market forecast size and growth, biohacking market segments and geographies, biohacking market trends, biohacking market drivers and restraints, biohacking market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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