Global Human Enhancement Market to Reach US$ 190.2 Billion by 2027, Spurred by the Rising Prevalence of Chronic Diseases

December 12, 2022

The latest report by IMARC Group, titled “Human Enhancement Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global human enhancement market size reached US$ 84.6 Billion in 2021. Human enhancement (HE) refers to an artificial, technological, and natural alteration of the body to enhance the cognitive function and physical capabilities of individuals through drugs, plastic surgery, and various neurotechnologies. There are three kinds of human enhancement procedures, namely physical, reproductive, and mental. They are performed using neuronal implants, brain-computer interfaces, hormones, dietary supplements, genetic engineering, and cosmetic surgeries. They also offer resistance against tuberculosis, Lyme, and malaria. Owing to these benefits, human enhancement is extensively utilized in defense, healthcare, and information technology (IT) industries across the globe.

Global Human Enhancement Market Trends:

The market is primarily driven by the rising prevalence of chronic diseases and the expanding healthcare sector. In addition, the increasing health consciousness among individuals due to the sudden outbreak of the coronavirus disease (COVID-19) is contributing to the market growth. Besides this, the emergence of advanced technologies, such as genetic engineering, brain-computer interfaces, neuronal implants, and three-dimensional (3D) bioprinting, is also augmenting market growth. Along with this, the escalating demand for human enhancement technologies in the aerospace sector to control in-flight entertainment and connectivity systems (IFEC) is providing a positive thrust to the market growth. Apart from this, the introduction of genome editing technologies, including clustered regularly interspaced short palindromic repeats (CRISPR) for a functional cure of human immunodeficiency virus (HIV) infection by editing the human genome in embryos and adults represents another major growth-inducing factor. Furthermore, due to the increasing geopolitical tension, security agencies of several countries are investing in research programs to improve battlefield performance and develop enhanced soldiers, which is propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 190.2 Billion by 2027, exhibiting a CAGR of 14.4% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been segregated into exoskeletons, smart devices, medical devices, implants, and others.
  • On the basis of the device type, the market has been bifurcated into body-worn and non-body worn.
  • Based on the end user, the market has been classified into healthcare, defense, information technology (IT), and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being BrainGate, B-Temia Inc, Ekso Bionics, Google LLC, Magic Leap Inc, Raytheon Technologies Corporation, ReWalk Robotics Ltd, Samsung Electronics Co. Ltd., Second Sight Medical Products Inc., and Vuzix Corporation.
     

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Global Human Enhancement Market to Reach US$ 190.2 Billion by 2027, Spurred by the Rising Prevalence of Chronic Diseases
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