DUBLIN, Jun 14, 2021--(BUSINESS WIRE)--The "Global Biohacking Market (2021-2026) by Product, Application, Type, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
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.
The Global Biohacking Market is segmented further based on Product, Application, Type, End-User, and Geography.
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.
Why buy this report?
The report offers a comprehensive evaluation of the Global Biohacking Market.
The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.
Innovative Trends of Neuro-Nutrition and Biohacking in The Wellness Space
Increase in The Use of Radiofrequency Identification (RFID) Technology in Medical Devices
Rising Demand for Smart Devices and Drugs
Penetration of Internet of Things (IoT) In Healthcare, Fitness, and Consumer Electronics
Stringent Government Regulations Governing the Genetic Engineering Experiments
Lack of Funds Required for Research
Lack of Expertise
Lab Experiments with The Use of Medical, Nutritional, and Electronic Technique
Advancement in Technologies
The Sharp Rise in Chronic Diseases Coupled with The Growing Geriatric Population
Cyber Security Concerns
For more information about this report visit https://www.researchandmarkets.com/r/ked5i
View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005402/en/
Laura Wood, Senior Press Manager
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