Pune, India -- (SBWIRE) -- 05/20/2020 -- Infinium Global Research has recently published a global report on "Biohacking Market (Type - Inside Biohacking, and Outside Biohacking; Product - Smart Drugs, Strains, Sensors, and Other Products; Application - Genetic Engineering, Forensic Science, Diagnosis and Treatment, Synthetic Biology, Drug Testing, and Other Applications; End-user - Forensic Laboratories, Pharmaceutical and Biotechnological Companies, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." According to the report, the global biohacking market is projected to grow at a CAGR of 19.2% over the forecast period of 2019-2025.

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Increasing Demand for Smart Devices and Effective Drugs

The increasing demand for smart devices and effective drugs contributes to the growth of the biohacking market. Biohacking is a new frontier in the development of drugs and therapeutics due to the emerging healthcare industry and social movement. The rising prevalence of chronic diseases led to the surge in demand for biohacking. As per the World Health Organization, it is projected that by 2020, chronic diseases account for almost three-quarters of all deaths globally.

Growing Awareness About Biohacking

The growing geriatric population boosts the expansion of the biohacking market. A study estimated that around 8.5 percent of people globally are aged 65 and over and it is projected to reach around 17 percent of the world's population by 2050. The geriatric population is prone to chronic diseases escalating the demand for biohacking. Further, growing awareness about biohacking stimulates the growth of the market. Biohacking labs are set up in garages, warehouses, with second-hand equipment bought online.

Thus, anyone interested in science can perform experiments and learn by doing. The rise in the use of radiofrequency identification technology in medical devices aligned with the penetration of the internet of things in healthcare promotes the expansion of the biohacking market. Additionally, increasing the inclusion of fitness and consumer electronics leverages the growth of the market.

Advancement in Technologies Creates Several Opportunities

The rise in demand for biohacking devices in key application areas such as forensic science, genetic engineering, drug testing, synthetic biology, and others leverages the growth of the biohacking market. On the flip side, lack of funds required for research, lack of expertise hinders the growth of the biohacking market. Moreover, advancement in technologies creates several opportunities for the growth of the biohacking market.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report Shall be Revised to 2020-2026. The Section on the Impact of COVID-19 on Biohacking Market is Included in the Report for Free."

North America is Anticipated to Have the Largest Share

Geographically, the global biohacking market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to have the largest share in the global biohacking market. The presence of key market players in the United States drives the growth of the biohacking market in North America. The increasing awareness about biohacking among the younger generation in North America led to the development of the market in the region. Asia-Pacific region is expected to grow in the global biohacking market with a healthy CAGR over the forecast period. The revamping healthcare sector with increasing investments in it contributes to the growth of biohacking market in Asia-Pacific. Europe has significant growth opportunities in the global biohacking market. The rising research and development in Europe drive the growth of the biohacking market in Europe.

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Biohacking Market Coverage

Chapter - 1     Preface

=> Report Description

=> Research Methods

=> Research Approaches

Chapter - 2     Executive Summary

=> Biohacking Market Highlights

=> Biohacking Market Projection

=> Biohacking Market Regional Highlights

Chapter - 3     Global Biohacking Market Overview

=> Introduction

=> Market Dynamics

=> Porter's Five Forces Analysis

=> IGR-Growth Matrix Analysis

=> Value Chain Analysis of Biohacking Market

Chapter - 4     Biohacking Market Macro Indicator Analysis

Chapter - 5     Global Biohacking Market by Type

=> Inside Biohacking

=> Outside Biohacking

Chapter - 6     Global Biohacking Market by Product

=> Smart Drugs

=> Strains

=> Sensors

=> Other Products

Chapter - 7     Global Biohacking Market by Application

=> Genetic Engineering

=> Forensic Science

=> Diagnosis and Treatment

=> Synthetic Biology

=> Drug Testing

=> Other Applications

Chapter - 8     Global Biohacking Market by End-user

=> Forensic Laboratories

=> Pharmaceutical and Biotechnological Companies

=> Other End-users

Chapter - 9     Global Biohacking Market by Region 2019-2025

=> North America

=> Europe

=> Asia-Pacific

=> RoW

Chapter - 10  Company Profiles and Competitive Landscape

=>Thync Global Inc.

=> Moodmetric

=> InteraXon Inc.

=> Behavioral Tech.

=> Fitbit, Inc.

=> Apple Inc.

=> Synbiota Inc.

=> The ODIN

=> HVMN Inc.

=> Modern AlkaMe

=> Other companies

Chapter - 11  Appendix

=> Primary Research Findings and Questionnaire

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