The 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.
New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Biohacking Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06365020/? utm_source=GNW
Behavioral Tech, 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 Russian-Ukrainian war has 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 against several countries, a spike in commodity prices and supply chain disruptions, affecting many markets around the world. The biohacking market is expected to reach $51.53 billion in 2026 with a CAGR of 22.1%.
The biohacking market consists of the sale of biohacking services by entities (organizations, independent traders, partnerships) which are used to improve the qualities or capacities of living organisms. Biohacking, also known as human augmentation or human enhancement, is a type of do-it-yourself biology that aims to improve abilities, fitness, and well-being through intentional interventions.
Meditation and intermittent fasting are two common biohacking practices that have been practiced since ancient times.
The major product types of the biohacking market are wearable devices, implants (chips), genetic modification kits, smart drugs, supplements, mobile apps, and other products. Wearables refer to the category of electronic devices that can be worn as accessories.
These devices help to track the body and check the condition of the body. The different components include solutions and services that are used in several 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 laboratories, 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 during the forecast period.
Regions covered in the Biohacking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing prevalence of chronic diseases is expected to propel the growth of the biohacking market in the future. Chronic illnesses are conditions or illnesses that often last three months or more and can get worse over time.
Biohacking methods such as improving body nutrition, intermittent fasting, hydrogen inhalation therapy, and others can help fight cancer and other chronic diseases. For example, according to the World Health Organization, a specialized US agency responsible for health, the prevalence of chronic diseases increased by 57% in 2020.
In addition, 19.3 million new cancer cases were recorded and nearly 10.0 million cancer deaths occurred in 2020. Hence, the increasing prevalence of chronic diseases is driving the growth of the biohacking market .
The increasing adoption of biohacking practices by consumers is expected to propel the growth of the biohacking market in the future. to fight the disease.
For example, according to WebWire, an online news channel based in the United States, the size of the meditation market in the United States is expected to reach $2.08 billion by 2022. Hence, the growing adoption consumer biohacking practices are driving the growth of biohacking. market.
Product advancement is a key trend that is gaining popularity in the biohacking market. Major companies operating in the biohacking industry are focusing on new product advancements to strengthen their position in the market.
For example, in January 2022, Velovita, a US-based biohacking solution provider, introduced Zlem, a dietary supplement biohacking formula for healthy sleep and quality weight management. Zlem is a powerful supplement with over 20 ingredients that can help users sleep. better and burn fat that has accumulated in the body during rest at night.
This product also helps the body get rid of impurities and gives users a balanced and 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, Kingdom United and the United States.
The Biohacking report is one of a series of new reports that provide biohacking statistics, including the global biohacking industry market size, regional shares, competitors with biohacking share, segments biohacking insights, market trends and opportunities, and any other data you may need to thrive. in the biohacking industry. This Biohacking Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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