Biohacking Market Size, Share & Trends Analysis Report By Product, By Application (Synthetic Biology, Drug Testing), By End-use (Hospitals & Clinics, Pharma & Biotech Companies), By Region, And Segment Forecasts, 2024 - 2030

Biohacking Market Size & Trends

The global biohacking market size was valued at USD 20.94 billion in 2023 and is projected to grow at a CAGR of 18.6% from 2024 to 2030. Factors expected to drive the growth of the biohacking market are the availability of wearable health trackers, genetic testing kits, smart devices, and apps that allow people to track and analyze their biometric data, leading to a more personalized and data-focused biohacking approach. Another significant trend in the market that is anticipated to drive the growth of the biohacking industry is the increasing worries regarding lifestyle-related illnesses. Furthermore, many individuals seek methods to enhance their lifespan, prevent or deal with health issues, and optimize their mental and physical abilities.

Biohacking has accelerated the advancement and innovation of cutting-edge products. It combines the characteristics of technology and synthetic biology. Scientists and research individuals conduct laboratory experiments to discover new possibilities in biotechnology, genetic engineering, and molecular biology. Biohackers engage in various body experiments, including tracking heart rate or implanting microchips for managing stress. Biohackers are working on multiple products to investigate the human body.

Among the products available are microchips, innovative drugs, brain sensors, magnetic fingertips, RFID implants, bacterial and yeast strains, body sensors, and health trackers. At present, wearable analytical technological devices are widely available. The current generation holds a favorable attitude towards biohacking and the tools associated with it. Biohacking can be used to monitor heart rate, steps, blood sugar level, body movement, calorie burn, or other data.

Product Insights

The wearables segment accounted for a share of 29.9% in 2023. Current developments in this market mainly focus on technological progress, such as adding additional health functions, incorporating Artificial Intelligence for personalized suggestions, and sending live data to healthcare professionals for prompt interventions and better patient results. Health sensors on wearable devices transform the fitness and wellness industry, allowing people to manage their health and well-being.

One popular choice among biohackers is the smartwatch, which tells time and tracks various bioindicators. These sleek devices monitor heart rate, sleep quality, and stress levels, offering a holistic view of one's health. Additionally, fitness trackers have gained immense popularity, enabling individuals to monitor their daily steps, calories burned, and exercise intensity.

Mobile apps and pharmaceutical industries are expected to experience significant growth with a robust compound annual growth rate in the coming years. With the rise of digitalization, mobile apps play an increasingly important role in enhancing user health through technological advancements. Mobile applications can monitor water consumption, the daily number of steps taken, and calories expended in collaboration with a wearable device. The rise in popularity of implants is expected to grow even further in the coming years, particularly with companies such as Tesla's Neuralink, a wholly implantable, cosmetically unseen brain-computer chip that allows users to control a computer or mobile device easily.

Application Insights

The diagnosis and treatment segment held the largest revenue share of over 32.3% in 2023 due to the high usage of biohacking practices, such as nootropics and wearable technologies, for body enhancement purposes. With the increase in the popularity of biohacking, many users are now practicing diagnosis to gauge their body performance and then working on improving it with the help of biohacking.

In addition, the key factor driving the market growth is the rise in the adoption of intelligent drugs and genetic modification kits. Biohackers can make data-driven decisions to improve their longevity and overall well-being with this information at their fingertips.

End-use Insights

The hospitals and clinics segment held the largest share of 40.3% in 2023. The segment growth is credited to the increase in chronic diseases and their treatment. The increased accessibility of devices such as wearables, performance monitors, and smartwatches also contributes to the growth.

The other segment of forensic laboratories is expected to record the best CAGR of more than 21.5% during the forecast period. The growing adoption of biohacking practices by forensic institutes is expected to support the segment's growth. These institutes are investing more in the research and development of biohacking practices to improve treatment processes.

Regional Insights

North America biohacking market dominated the market in 2023 with a market share of 36.7%. This is due to the increasing prevalence of chronic illnesses, increase in the awareness of biohacking, and an aging population in the region. Heavy investments in the research and development in this market by the government is also attributable for the market growth.

U.S. Biohacking Market & Trends

The biohacking market in the U.S. dominated the market with a share of 71.75% in 2023 due to the heavy investments of government and key market players in the research and development of the biohacking market.

Europe Biohacking Market & Trends

Europe biohacking market was identified as a lucrative region in this industry with a market share of over 30% in 2023 due to the rising of diabetes in this region, primarily caused by obesity, poor eating habits, and lack of exercise.

Asia Pacific Biohacking Market & Trends

Asia Pacific Biohacking market is anticipated to witness significant growth in 2023 with a CAGR of 20.6% attributing to the rise in healthcare expenditure that has led to economic growth in the region. The population is willing to invest in their health and explore innovative ways to improve it. This trend has significantly boosted the utilization of biohacking tools and methods to enhance lifespan, overall health, and mental and physical abilities.

Key Biohacking Company Insights

Some of the major companies in the biohacking market are Thync Global, Inc., Health Via Modern Nutrition Inc., Apple Inc., The ODIN, Fitbit, Inc., Nuanic, and Muse. These companies are transforming well-being by combining technology, science, and human performance.

• Thync Global, Inc. develops wellness products that utilize neurosignaling and bioelectronics. The company provides wearable gadgets and digital tools designed for stress management, better sleep, and boosting energy. They use a combination of scientific research and technology to tackle different aspects of mental and physical health.

• THE ODIN provides tools and resources for DIY biology and genetic engineering. It provides kits, gear, and educational resources for people keen to do genetic experiments and explore biotechnology. THE ODIN's goal is to increase access to biotechnology for a wider group of people, promoting creativity and practical education in the area of genetic science.

Recent Developments

• In October 2023, Muse classified themselves as an eligible product for health savings accounts (HSA) and flexible spending accounts (FSA), benefiting customers with health improvements and tax savings. In collaboration with Truemed, they have simplified the payment procedure for customers, guaranteeing a straightforward and effective checkout process with health savings accounts when purchasing the new meditation devices, the Muse 2 Headband or the Muse S Headband.

• In May 2023, Google revealed a merger deal worth USD 2.1 billion with Fitbit. This agreement enhanced Google's placement in the wearable technology market. The deal involved acquiring Fitbit's brand, technology, and software, which was incorporated into Google's hardware operations.

Biohacking Market Report Scope

Global Biohacking Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global biohacking market report based on product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Wearables

    • Wearable Neurotech

    • Oura Ring

    • Muse Headband

    • Others

  • Implants

    • Blood Test Implant

    • Circadia Implant

    • NFC and RFID Tags

    • Others

  • Gene Modification Kits

  • Smart Drugs

  • Supplements

  • Mobile Apps

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Synthetic Biology

  • Genetic Engineering

  • Forensic Science

  • Diagnosis & Treatment

  • Drug Testing

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceutical & Biotechnology Companies

  • Hospitals & Clinics

  • Forensic Laboratories

  • Research & Academic Institutes

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait