The Biohacking Global Market Report 2023 by The Business Research Company, provides biohacking market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Biohacking Global Market Report 2023, the market size grew from $23.34 billion in 2022 to $28.87 billion in 2023 at a compound annual growth rate (CAGR) of 23.7%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global biohacking is expected to grow to $65.95 billion in 2027 at a CAGR of 22.9%.
The rising prevalence of chronic diseases is expected to propel the growth of the biohacking market going forward. Chronic diseases are conditions or illnesses that often last for three months or longer and have the potential to get worse over time. Biohacking methods such as improving the nutrition of the body, intermittent fasting, hydrogen inhalation therapy, and others can help to fight cancer and other chronic diseases.
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The biohacking market is segmented:
1) By Product: Wearables, Implants (Chips), Gene Modification Kits, Smart Drugs, Supplements, Mobile Apps, Other Products
2) By Component: Solution, Services
3) By Application: Synthetic Biology, Genetic Engineering, Forensic Science, Diagnosis and Treatment, Drug Testing
4) By End-User: Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, Forensic Laboratories, Research and Academic Institutes, Other End Users
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.
The biohacking market report table of contents includes:
1. Executive Summary
2. Biohacking Market Characteristics
3. Biohacking Market Trends And Strategies
4. Biohacking Market – Macro Economic Scenario
5. COVID-19 Impact On Biohacking Market
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26. Africa Biohacking Market
27. Biohacking Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biohacking Market
29. Biohacking Market Future Outlook and Potential Analysis
30. Appendix
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