Valued at USD 12,070.25 million in 2019, the biohacking market is expected to grow at a CAGR of 20.4% during the forecast period covered by the report, 2020–2027. Innovations such as the dermal biosensor tattoo and RFID and NFC implants illustrate how technology is moving closer to the body. Companies including Thync Global Inc., Apple, HVMN, Inc., Synbiota, Grindhouse Wetware, MoodMetric, THE ODIN, and Fitbit, Inc. are active in the market.

Dermal Biosensor Tattoo Technology

A team of scientists at the Technical University of Munich developed a dermal biosensor tattoo, a biohacking implantation technology applied to the skin. It comes in ink form containing three colors and is implanted via injection. The sensors monitor the body's blood sugar, protein, and pH levels and react by changing the tattoo color. The dermal biosensor tattoo demonstrates the growing demand for implantable solutions that enhance day-to-day life.

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RFID and NFC Implants in the Workplace

In 2017, Three Square Market, a U.S. technology firm, offered its employees an optional microchip. Based on radio frequency identification (RFID) and near field communication (NFC), the chip helps unlock doors, pay at vending machines, and unlock office computer systems. Such RFID and NFC implants are cited by the report as a key reason for rising demand within the biohacking market. The report also describes researchers who found that a strand of bacteria, genetically modified to be light-sensitive, can be used to graft several body parts, including a kidney, to print a 3D image.

Application Insights Across the Biohacking Market

By application, the market is segmented into synthetic biology, genetic engineering, forensic science, diagnosis and treatment, and drug testing. The diagnosis and treatment segment holds the maximum share due to the increasing prevalence of chronic diseases across the globe. In contrast, drug testing is expected to hold the highest CAGR in the forecast period due to increasing research and development by companies and government initiatives. As an example, the report notes that in 2015 a biohacking lab in California developed an eye drop using a derivative of chlorophyll found in deep-sea fish.

Research Momentum and Government Support

Rising awareness of biohacking and the increasing prevalence of chronic diseases across the globe are key drivers, and the report cites a 2018 World Health Organization report indicating that the share of the world population over 60 will double from 12% to 22%. Government-initiated research and development to develop new drugs is also propelling the market. In 2020, the U.S. spent USD 5.1 billion on COVID-19 medical research. The report anticipates that extensive demand for smart devices and drugs across the globe will drive growth, as companies work to control the crisis and develop new treatments.

Regional and Competitive Context

North America accounts for the highest share, driven by increasing healthcare expenditure and technologically advanced healthcare infrastructure, Biohacking key players such as Apple operate in Canada and the U.S. By end use, pharmaceutical and biotechnology companies hold the largest share owing to rising demand for devices that monitor blood sugar level, heart rate, and body movement. Europe holds the second largest share, while Asia Pacific is expected to grow at the highest CAGR as its healthcare infrastructure rapidly improves, although a 2017 Hindustan Times article raised concern about garage lab setups in India with no regulation.

Competitive activity centers on product development, strategic initiatives, and regional expansion. In June 2020, Apple launched watchOS 7, which monitors sleeping patterns and, according to the report, supports market growth. Other major players include Thync Global Inc., HVMN, Inc., Synbiota, Grindhouse Wetware, MoodMetric, THE ODIN, and Fitbit, Inc. Because the report uses 2019 as its base year, readers should interpret these figures and examples in that context.

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