Biohacking Market | Technological Advancement in the Biohacking Market Landscape Set to Drive Growth
Do it Yourself (DIY) biology or biohacking covers a range of interesting activities. The broad term includes altering biology, tracking sleep, experimenting scientifically on organisms like yeast, and fighting aging. It is pertinent to note here that it is gaining popularity and that will help the global biohacking market grow substantially.
From 2019 to 2029, TMRR states that technological progress made in the recent few years, coupled with a sharp focus on innovation, will also contribute notably to increasing revenues and opportunities. For instance, advancement and adoption of Internet of Things (IoT) is driving market forward in a major way. This is particularly true of consumer electronics and certain solutions in healthcare. Augmented awareness and neuro-nutrition have become buzz words and these are major propellers of growth in the market.
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Biohacking is gaining popularity due to the immense hope that it brings. This factor is likely to support growth of the global biohacking market over the tenure of assessment.The global biohacking Market is forecasted to observe substantial market growth over the timeframe of assessment, from 2019 to 2029. The rapid development of the market is ascribed to the emerging trend toward neuro-nutrition and augmented awareness about biohacking in the wellness and health areas. In addition, technological progress together with integration of internet of things with consumer electronics and various healthcare solutions are some of the factors driving the expansion of the global biohacking market over the forecast tenure.
Players such as the Health Via Modern Nutrition, The ODIN, Moodmetric, Fitbit, Inc., Apple Inc., InteraXon Inc., among others hold the topmost tier of the market as far as influence and revenues are concerned. These are dabbling with new and varied strategies – organic and inorganic. The aim of these is to improve worth and positioning in the market landscape. Such measures, in turn, lead to notable developments. Product development is one such measure. It is pertinent to note here that in 2020, Apple launched Watchos-Series.
It tracks sleep and makes the portfolio of the company richer. In addition, increased prevalence of various chronic disorders is anticipated to augment the growth of the global biohacking market over the timeframe of analysis, from 2019 to 2029. The ongoing crisis of Covid-19 has resulted in a flourishing business of pharma industries. Many pharmaceutical companies are conducting multiple research and development projects so as to come up with a vaccine or drug for SARS-CoV-2 induced Covid-19.
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As far as a geographic analysis is concerned, please note that North America is set to be a dominant player, trailed by Europe. Robust healthcare infrastructure, presence of strong players and good policies regarding reimbursement will drive growth in the market. Demand for good services in healthcare is increasing and this too is a growth propeller in the two regions. Pharmaceutical companies engaged in multiple research and development (R&D) activities are also noted in the market landscape.
Health Via Modern Nutrition, The ODIN, Moodmetric, Fitbit, Inc., Apple Inc., InteraXon Inc.
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