Global Human Enhancement Market is expected to reach US$ 1530.2Mn by 2026 from US$ 140.5Mn in 2017 at CAGR of 34.78%.
People want to lead a healthy life and advancements in technology, for instance, sensors, and biomedical and medical devices have supported their cause. The urge to stay at the peak of health, enhance features, and overcome restrictions is motivating people to invest in healthcare devices. People are buying more and more fitness devices selected to physically fit. Additionally, countries that lay importance on healthcare are spending about 8% to 17% of their GDP, and this is expected to increase even more in the upcoming years.
Healthcare is dominating the market in 2017 and is accepted to be the fastest growing market for human enhancement. Whereas, Human enhancement market in the defence sector is projected to increase by 29% CAGR.
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Wearable enhancement segment is leading the human enhancement market globally. Various types of wearable devices, such as body-wear, eyewear, footwear, wrist-wear and many more are available in human enhancement market. The actual reason for the growing popularity of such devices is the low cost. As technology is getting more and more advanced, the cost of such devices is getting lower & lower. Even the growth of smart sensors has aided the cause of wearable. At present, the potential socio-economic profit of wearable is large for multiple sectors. Such as, fitness wearable devices can drive the users to exercise, thus the user save crucial money, which he might have spent on healthcare.
Region-wise, North America is led the global human enhancement market. This is owing to the improved economy and increasing demand for augmentation products in the region. In addition, technological advancements in medical wearable products have also propelled the development of the market in North America. The U.S. represents the largest market for human enhancement in North America, followed by Canada. In Europe, Germany, France, and the U.K. account for major shares of the human enhancement market. The human enhancement market in Asia is also expected to witness high growth rates in the next five years.
Key players operating in global human enhancement market, Second Sight Medical Products, Inc., B-Temia Inc., Vuzix Corporation, Braingate Company, Samsung Electronics Co. Ltd., Ekso Bionics Holdings, Inc., Rewalk Robotics Ltd., Google Inc., Raytheon Company, and Magic Leap, Inc.
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Scope of Global Human Enhancement Market
Global Human Enhancement Market, by Product
Global Human Enhancement Market, by End user
Global Human Enhancement Market, by Region
Middle East and Africa
Key players operating in Global Human Enhancement Market
Second Sight Medical Products, Inc.
Samsung Electronics Co. Ltd.
Ekso Bionics Holdings, Inc.
Rewalk Robotics Ltd.
Raytheon Company Magic Leap, Inc.