Mar 16, 2021

Key factors, such as the innovative trends of neuro-nutrition & growing biohacking in the health & wellness space, are likely to contribute to the growth of the market. Penetration of the Internet of Things in healthcare, fitness, and consumer electronics such as fitness bands also boosts the market growth. Rising demand for smart devices and effective drugs to meet the daily healthcare needs amongst the population and the prevalence of chronic disorders are factors driving the market growth. The COVID-19 pandemic has led to a surge in market growth for the pharma industries engaged in biohacking. However, strict government regulations governing the genetic engineering experiments, lack of funds required for research, and lack of expertise are likely to hinder the market growth. Cybersecurity practices are expected to pose a challenge for the biohacking market. Market Segmentation By Product, the market is classified as Sensors, Smart Drugs, Strains & Others. Amongst all, the Smart Drugs segment is estimated to hold the highest market share. By Application, the market is segmented as Synthetic Biology, Forensic Science, Genetic Engineering, Diagnosis & Treatment, and Drug Testing. Diagnosis & Treatment is estimated to hold the highest market share during the forecast period. By Type, the market is classified as Inside and Outside Biohacking. The Outside Biohacking segment holds the highest market share. By End User, the market is classified as Pharmaceutical & Biotechnology Companies, Forensic Laboratories, and Others. Amongst all, the Pharmaceutical & Biotechnology Companies segment is estimated to hold the highest market share. By Geography, North American countries followed by the nations in the European region accounted for the dominant share of the market. Recent Developments 1. Fitbit Collaborates with Scripps Research and Stanford Medicine to Study the Role of Wearables to Detect, Track and Contain Infectious Diseases like COVID-19 - 4th April 2020 2. InteraXon announced a new product launch - Muse S, a Meditation Sleep Headband - 9th January 2020 Company Profiles Some of the companies covered in this report are Apple, THE ODIN, Thync Global, Fitbit, Synbiota, Moodmetric, HVMN, InteraXon Inc, etc. Competitive Quadrant The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments and growth in market share. Key Topics Covered: