Human Augmentation Market Segmented By Wearable Augmentation Products, In-built Augmentation Products Type with Body-worn, Non-body-worn Functionality
Industry: Healthcare
Published Date: October-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP4463
The global human augmentation market is likely to increase from a valuation of US$ 160 Bn in 2022 to US$ 1,100 Bn by the end of 2032. The industry is expected to surge ahead at a noteworthy CAGR of 21.2% through 2032, with North America leading the growth of the global market.
| Attributes | Key Insights |
|---|---|
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Size of Human augmentation Market (2022E) |
US$ 160 Bn |
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Projected Sales of Human augmentation (2032F) |
US$ 1,100 Bn |
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Market Growth Rate (2022-2032) |
21.2% CAGR |
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Valuation of North America Market (2021A) |
US$ 130 Bn |
“Rising Demand for Wearable Augmentation Products”
At present, there is a noticeable increase in the demand for wearable augmentation products around the world. In addition, growing awareness related to therapeutic applications of different medical wearable products is also likely to serve as one of the pivotal factors to bolster growth avenues in the global market. Sensor technologies have undergone many technological advancements that are estimated to increase the adoption of the solutions from the industry and thus propel expansion avenues in the market.
“Frequent Product Launches by Market Players”
Players serving in the global market are adopting numerous strategies to generate novel growth opportunities in the market. For instance, the rising count of mergers and acquisitions among healthcare IT companies is predicted to ensure effective services to consumers and thus drive novel demand opportunities in the market.
The industry players are also involved in rapid product launches. The motive of this initiative is to provide satisfactory outcomes to targeted consumers and thus create novel growth avenues in the market.
“Dearth of Skilled IT Professionals”
There is a lack of proficient IT professionals that can operate solutions from the market. Moreover, the requirement for the high cost to purchase equipment is also expected to restrict growth opportunities in the human augmentation market in the coming years. The imposition of some stringent regulations to provide approval to augmentation devices and some other concerns related to legal and social affairs are also anticipated to inhibit growth opportunities in the market.
“Increased Demand for Augmentation Products and Improved Economy in North America”
Among six regional areas, where the human augmentation market is spread, North America is likely to dominate in the coming years. There is a noticeable increase in the demand for augmentation products across the region. In addition, an improved regional economy and technological advancements that are taking place in medical wearable products are also predicted to bolster growth opportunities in the market.
The U.S., among other regional countries, is likely to hold the largest share in the regional market and it is further followed by Canada. The U.K., France, and Germany are the key nations from the European region that are predicted to stimulate novel demand opportunities in the regional market.
Human augmentation is a very soft and ductile metal that oxidizes very easily in human augmentation, also known as Human 2.0, refers to technologies that are used for bringing physical improvement in the integral parts of the human body. Technological advancements in IT have led to the introduction of a greater variety of implants and other technologies, which are used for human augmentation. In addition, genetically engineered human technologies also play an important role in the treatment of various diseases and disabilities.
The global human augmentation market is categorized based on various types of products and applications. Based on products, the report covers wearable augmentation products and in-built augmentation products. The wearable augmentation product segment accounts for the largest market share in the global human augmentation system.
The wearable augmentation product segment is further sub-segmented into eye-wear, wrist-wear, neck-wear, foot-wear, body-wear, and others. Major eye-wear products include smart contact lenses, Helmet-Mounted Display (HMD), Head-Up Display (HUD), and Google glass. The wrist-wear sub-segment is further subdivided into wristbands and watches.
Major neck-wear products include ties and collars and ornaments and precious metals. The body-wear sub-segment is further sub-segmented into arm and legwear and clothing and innerwear. Other category includes smart headsets, smart socks, and smart rings. Eye-wear and wrist-wear sub-segments hold the largest market share in the global human augmentation market. Based on applications, the report covers the health care, industrial, and defense industries.
Major companies operating in this market are 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.
| Attribute | Details |
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Forecast period |
2022-2032 |
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Historical data available for |
2017-2021 |
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Market analysis |
USD million for value |
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Customization & pricing |
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The global human augmentation market is anticipated to surge ahead at a CAGR of 21.2% through 2032.
The current valuation of the human augmentation industry is US$ 160 Bn.
Revenue from human augmentation is likely to reach US$ 1,100 Bn by 2032.
The North American human augmentation was valued at US$ 130 Bn in 2021.
