Biohacking Global Market Report 2022: War between Ukraine and Russia

New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — announces the release of the report “Biohacking Global Market Report 2022: Ukraine-Russia War Impact” – utm_source=GNW
Behavioral Technology, Synbiota and Primal Life Sciences.

The global biohacking market 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 war between Russia and Ukraine 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 resulted in economic sanctions against multiple countries, rising commodity prices and supply chain disruptions, affecting many markets around the world. The biohacking market is expected to grow to $51.53 billion by 2026 at a CAGR of 22.1%.

The biohacking market consists of the sale of biohacking services by entities (organizations, sole proprietors, partnerships) that are used to enhance the qualities or capabilities of living organisms. Biohacking, also known as human augmentation or human enhancement, is a type of do-it-yourself biology that aims to improve ability, fitness, and well-being through deliberate interventions.

Meditation and intermittent fasting are two common biohacking practices that have been practiced since ancient times.

The main product types of the biohacking market are wearables, implants (chips), gene modification kits, smart drugs, supplements, mobile apps and other products. Wearables refers to the category of electronic devices that can be worn as accessories.

These devices help in body tracking and checking the condition of the body. The various components include solutions and services used in various applications, such as synthetic biology, genetic engineering, forensics, diagnosis and treatment, and drug testing.

It is used in pharmaceutical and biotechnology companies, hospitals and clinics, forensic labs, research and academic institutes and 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 over the forecast period.

The Regions covered in Biohacking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increasing prevalence of chronic diseases is expected to drive the growth of the biohacking market in the future. Chronic illnesses are conditions or illnesses that often persist for three months or more and can get worse over time.

Methods of biohacking, such as improving the body’s nutrition, intermittent fasting, hydrogen inhalation therapy and others, can help fight cancer and other chronic diseases. According to the World Health Organization, a US-based specialized agency responsible for international public health, the prevalence of chronic diseases will increase by 57% by the year 2020.

Also, 19.3 million new cancer cases were recorded in 2020 and nearly 10.0 million cancer deaths. Therefore, the rising prevalence of chronic diseases is driving the growth of the biohacking market.

Increasing consumer acceptance of biohacking practices is expected to drive the growth of the biohacking market in the future. Biohacking practices like meditation and intermittent fasting help increase mental focus, boost drive and energy, and help the body work efficiently, making it easier to fight off illness.

For example, according to WebWire, a US-based online news outlet, the size of the meditation market in the US is predicted to reach $2.08 billion by 2022. Therefore, increasing consumer acceptance of biohacking is driving the growth of the biohacking industry. market.

Product development is a major trend gaining popularity in the biohacking market. Large companies active in the biohacking sector are focused on new product developments to strengthen their position in the market.

In January 2022, Velovita, a US-based biohacking solution provider, for example, introduced Zlem, a biohacking nutritional supplement formula for restful sleep and weight management. Zlem is a powerful supplement with more than 20 ingredients that can help users sleep better and burn fat 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 countries covered in the biohacking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the US.

The biohacking report is one of a series of new reports that provides biohacking statistics including global biohacking industry market size, regional shares, biohacking share competitors, detailed biohacking segments, market trends and opportunities, and all further data you may need to thrive in the biohacking industry. This Biohacking Market Research Report provides a complete perspective of everything you need with an in-depth analysis of the current and future scenario of the industry.
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Biohacking Global Market Report 2022: War between Ukraine and Russia

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