WiseGuyReports.com adds “Global Biohacking Market Research Report 2020 Analysis and Forecast 2027” reports to its database.
PUNE, MAHARASTRA, INDIA, November 27, 2020 /EINPresswire.com/ — Biohacking Market:
Biohacking is defined as the use of function-improving drugs or the utilization of internal or peripheral implants to enhance cognitive function, retention, and creativity in personalities. The most constructive method involves the consumption of nootropic drugs to improve intelligence and focus. Biohacking industry will observe a range of opportunities with the outbreak of the recent coronavirus disease. Remarkable developments are likely to be witnessed in the biohacking industry as a greater number of scientific communities’ resort to constant research to manage the widespread of the disease, which may strengthen the demand for biohacking solutions across the globe. Moreover, the escalating demand for smart devices and effective drugs, rising awareness for biohacking among forensic laboratories and pharmaceutical companies, and growing prevalence of chronic diseases among people are the few factors responsible for the CAGR of the market during the forecast period. According to the International Agency for Research on Cancer (IARC), globally, there were almost 18.1 million new cases of cancer and 9.6 million deaths caused by cancer reported in the year 2018. While the global burden of cancer is likely to reach almost 27.5 million new cancer cases and almost 16.3 million deaths affected through cancer by the year 2040. This, in turn, is likely to strengthen the demand for biohacking, thereby contributing to the market growth around the world. However, the lack of expertise as well as cyber security practices and stringent regulations concerning the genetic engineering experiments are the few factors limiting the market growth over the forecast period of 2020-2027.
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The regional analysis of the global Biohacking market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the rising government R&D investment for new drug discovery and development, along with the presence of significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of chronic diseases such as cancer, coupled with rapidly improving healthcare infrastructure in emerging nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Biohacking market in the Asia-Pacific region.
Major market player included in this report are:
Thync Global, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Pharmaceutical & Biotechnology Companies
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Biohacking Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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Source: EIN Presswire