Do it Yourself (DIY) biology or biohacking covers a range of interesting activities. The broad term includes altering biology, tracking sleep, experimenting scientifically on organisms like yeast, and fighting aging. It is pertinent to note here that it is gaining popularity and that will help the global biohacking market grow substantially.
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From 2019 to 2029, TMRR states that technological progress made in the recent few years, coupled with a sharp focus on innovation, will also contribute notably to increasing revenues and opportunities. For instance, advancement and adoption of Internet of Things (IoT) is driving market forward in a major way. This is particularly true of consumer electronics and certain solutions in healthcare. Augmented awareness and neuro-nutrition have become buzz words and these are major propellers of growth in the market.
Players such as the Health Via Modern Nutrition, The ODIN, Moodmetric, Fitbit, Inc., Apple Inc., InteraXon Inc., among others hold the topmost tier of the market as far as influence and revenues are concerned. These are dabbling with new and varied strategies – organic and inorganic. The aim of these is to improve worth and positioning in the market landscape. Such measures, in turn, lead to notable developments. Product development is one such measure. It is pertinent to note here that in 2020, Apple launched Watchos-Series. It tracks sleep and makes the portfolio of the company richer.
As far as a geographic analysis is concerned, please note that North America is set to be a dominant player, trailed by Europe. Robust healthcare infrastructure, presence of strong players and good policies regarding reimbursement will drive growth in the market. Demand for good services in healthcare is increasing and this too is a growth propeller in the two regions. Pharmaceutical companies engaged in multiple research and development (R&D) activities are also noted in the market landscape.
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