Biohacking Market: Rising demand for smart devices and effective drugs to drive the market
Global Biohacking Market: Overview
Experiments in the field of biology includes the use of drugs or gene editing or implants which improve the capabilities or qualities of living organisms. This is done by the individuals and their groups working in a scientific research environment or a traditional medical laboratory. Biohacking is managing one's own biology with the combination of nutritional, electronic, and medical technologies. It is also referred to as Do-It-Yourself (DIY) biology. Biohacking has brought out an absolute change in the field of synthetic biology. Biohacking have developed an urge of development and innovation of new products. It combines the aspects of technology and synthetic biology. Laboratory experiments are conducted scientists and research individuals to explore new avenues in biotechnology, genetic engineering, and molecular biology. Biohackers embark on numerous experimentations on the body such as monitoring of the heart rate or insertion of microchips to control the stress level. Biohackers have developed and are in the process of developing various products to explore the human body. Some of the remarkable products are smart drugs, microchips, magnetic fingertips, brain sensors, RFID implants, bacterial and yeast strains, body sensors, and smart blood pressure monitor health trackers. Currently, wearable analytic technological devices are available widely. The current generation is have a positive approach towards the Biohacking and its devices. Tracking of the heart rate, steps, blood sugar level, and movement of the body, burning calories or any other metrics, can be termed as Biohacking through analytics. The options in terms of Biohacking to keep track of one’s biological performance are wide ranging, innovative, and ever growing.
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Global Biohacking Market: Key Trends
Increasing awareness about Biohacking, rising demand for smart devices and effective drugs, and growing prevalence of chronic diseases are factors expected to drive the global Biohacking market during the forecast period. However, strict regulations that govern the genetic engineering experiments, lack of funds required for research, and lack of expertise as well as cyber security practices are expected to restrain the market during the forecast period.
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Global Biohacking Market: Segmentation
The global Biohacking market can be segmented based on type, product, application, end-user, and region. Based on type, the market can be divided into outside biohacking and inside biohacking. In terms of product, the global market can be classified into sensors, smart drugs, strains, and others. Based on application, the global Biohacking market can be segregated into synthetic biology, genetic engineering, forensic science, diagnosis & treatment, drug testing, and others. Based on end-user, the global Biohacking market can be divided into pharmaceutical & biotechnological companies, forensic laboratories, and others.
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Global Biohacking Market: Regional Analysis
In terms of region, the global Biohacking market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is expected to be a prominent market for biohacking during the forecast period. The region’s dominance can be attributed to strategic presence of key players in the U.S. and Canada.
Global Biohacking Market: Competitive Landscape
Key players operating in the global Biohacking market are Fitbit, Inc., Apple Inc, Synbiota, Inc., The ODIN, HVMN Inc, Thync Global Inc., Moodmetric, InteraXon Inc., and Behavioral Tech.
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