The human enhancement market will be driven by the inclination of people towards health, increase in disposable income, luxurious lifestyle, and developments in smart sensors.
Growing Inclination Towards Health - A Major Growth Driver
People want to lead a healthy life and advancements in technology, such as sensors, biomedical and medical devices have supported their cause. The urge to stay at the peak of health, enhance features and overcome limitations is motivating people to invest in healthcare devices.
The aging population faces many limitations regarding mobility, eyesight, hearing, etc., and is one of the key consumer segments demanding enhancement devices. Devices, such as special hearing aids with noise cancellation, muscle enhancing, and supporting systems for spinal support, and shoes providing navigational support, and foot strength allow people to overcome many limitations caused due to aging.
Another set of people that invest heavily in human enhancement devices is people suffering from injuries and illnesses. Hi-tech prosthetic limbs now enable disabled people to run, swim, and climb mountains; Klippa is a prosthetic leg specially designed for amputee rock climbers and Activankle allows amputee swimmers to swim.
People are buying more and more fitness devices to be physically fit. Moreover, 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 coming years.
The global wearable market offers variety of opportunities to the players to grow. Various types of wearable devices, such as body-wear, eyewear, footwear, wrist-wear, and many more are available in the market.
The main reason for increasing popularity of such devices is the low cost. As technology is getting, more and more advanced, the cost of such devices is getting lower and lower. Even the development of smart sensors has aided the cause of wearable. At present, the potential socio-economic benefits of wearable are large for multiple sectors. For instance, fitness wearable devices can drive the users to exercise, thus the user save crucial money, which he might have spent on healthcare.
Key Developments in the Market
- March 2018 - Flex launched BrightInsight Connected Health Solution on Google Cloud Platform. BrightInsight can aggregate data and deliver real-time insights to optimize the value of connected drug, device or combination products.
Reasons to Purchase this Report
- Current and future human enhancement market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Growth of various products such as body-wear, eyewear, foot-wea.r
- Regional analysis of the market.
- Identifying the latest developments, market shares and strategies employed by the major market players.
- 3-month analyst support, along with the Market Estimate sheet (in Excel).
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1.1 Scope of the Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Key Deliverables of the Study
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Insights
3.1 Market Overview
3.2 Industry Attractiveness – Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitutes
3.2.5 Intensity of Competitive Rivalry
4. Market Dynamics
4.1 Market Drivers
4.1.1 Development in Smart Sensors
4.1.2 Growing Inclination Towards Health
4.1.3 Increase in Disposable Income
4.2 Market Restraints
4.2.1 High Equipment Costs
4.2.2 Lack of Skilled Labor
5. Technology Snapshot
6. Global Human Enhancement Market Segmentation
6.1 By Product
6.1.1 In-built Enhancement
6.1.2 Wearable Enhancement
6.2 By End-user Application
6.3 By Region
6.3.1 North America
184.108.40.206 South Korea
6.3.4 Latin America
6.3.5 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
7. Competitive Intelligence – Company Profiles
7.1 Google Inc.
7.2 Samsung Electronics Co. Ltd.
7.3 Second Sight Medical Products, Inc.
7.4 Raytheon Company
7.5 Magic Leap Inc.
7.6 Vuzix Corporation
7.7 Ekso Bionics Holdings, Inc.
7.8 Braingate Company
7.9 B-Temia Inc.
*List not Exhaustive
8. Investment Analysis
9. Future Outlook of Human Enhancement Market