Growing demand for smart devices, rising chronic illness prevalence, and increased R&D investments by pharmaceutical firms and the government are projected to drive market expansion throughout the forecast period. Tight restrictions governing genetic engineering experiments, a lack of finances for research, a lack of experience, and a lack of cyber security measures are projected to limit the market throughout the projection period. One of the key difficulties is that these biohacking gadgets interact with one other via online services and send data directly into patients' medical records. Because many online services are unauthenticated or unencrypted between devices, a hacker might change the data that is supplied into the medical record.
According to Coherent Market Insights, the global Biohacking Market is estimated to be USD 15755.29 Million in 2021 and is expected to reach USD 45951.81 million by 2028 to grow at a CAGR of 17% during the forecast period (2021 –2028).
Leading Companies in the Biohacking Industry:
1. Thync Global Inc.
Thync was born out of a fascination with how neuroscience can impact daily life by experts in the fields of neurobiology. Headquartered in Menlo Park, California, United States. Founded in 2011.
2. Apple Inc.
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod. Apple Inc. was incorporated in 1977 and is headquartered in Cupertino, California.
3. HVMN
Health via Modern Nutrition has extensive industry experience in operations and supply chain management. From the acceptance of raw materials to full WADA compliance of the final product, at least three quality and purity audits are performed during the manufacturing process of H.V.M.N. products. Headquartered in United States. Established in 2014.
4. Synbiota
SynBiotic SE engages in the research and development, production, and marketing of cannabinoid and terpene-based solutions to for pain, sleep deprivation, and anxiety. It offers cannabinoid dietary supplements and cosmetics; medical cannabis products; and cannabis products for recreational use under the Princess Stardust, Hempany, and Hempamed Rxbrand names. The company was formerly known as Ledgertech SE and changed its name to Ledgertech SE. SynBiotic SE is based in Munich, Germany.
5. MoodMetric
The Moodmetric measurement signal is validated by the Finnish Institute of Occupational Health. The ring provides laboratory level data. Established in 2013, headquartered in Finland. In 2021 the current Moodmetric services are available for organizations as before. Simultaneously we are running a research study and a development program to create the new tool for health care: to detect the early signs of burnout and also to diagnose it.
6. THE ODIN
The ODIN provides kits and tools that helps consumers make organisms at home. Josiah Zayner founded it in September 2013, with its headquarters in Oakland in California.
7. Fitbit, Inc.
Fitbit offers compact, wireless, wearable sensors that track a person’s daily activities in order to promote a healthy lifestyle. The company is developing an ultra-compact wireless wearable sensor, called the Fitbit Tracker that automatically tracks data about a person's activities, such as calories burned, sleep quality, steps and distance. Established in 2007, headquartered in California, U.S.
*Definition- Bio hacking refers to biological research carried out in tiny labs by a person or a small group. As a result, bio hacking is also known as Do-It-Yourself (DIY) biology.
