Human Augmentation Technology Market

Human Augmentation Technology Market Outlook (2023 to 2033)

The global human augmentation technology market is anticipated to generate revenues of USD 184.43 billion in 2023. Demand for home augmentation technology is anticipated to develop at a CAGR of 19.3% and reach USD 1,078.32 billion by 2033.

Technological Improvements Proven to be Beneficial for Human Health

Individuals have benefited from human enhancement in terms of overcoming physical stress and regaining their physical or psychological capacities. Improvements in human health and quality of life have been sparked by technological developments in the fields of biotechnology, neurology, engineering, and computers.

Due to the significant growth in human expectations of cutting-edge technology, the healthcare industry is developing quickly. The health and fitness industries are adopting virtual reality devices rapidly.

For instance, prosthetic limbs and arms are given to the crippled to help them carry out daily chores. The center of the gastrointestinal/digestive system is also visually inspected using a capsule camera, and a swallowing device.

Key factors influencing market revenue growth include the high demand for wearable augmentation devices in the healthcare industry and the emergence of AI-powered devices

Swift technological advancements like the availability of fast processing chipsets and the miniaturization of sensors lead to the high adoption of these devices.

The growth of nanotechnology and the application of brain-computer interfaces are two trends that are likely to endure in the industry. This integration makes use of both invasive and noninvasive prosthetic technology, as well as everyday wearables like telephones.

Key Restraints Impacting the Adoption of Human Augmentation Technology

• Data security is still one of the key issues with developing technologies. The stored data is susceptible to hackers since there are no rules governing data security and safety.
  • Similar hacks and other data theft crimes in the field of human augmentation deter people from participating in this market, which slows down its expansion.
  • The likelihood of illegal access to patient data rises due to reliance on technology and a lack of proactive authentication methods, endangering the physical and emotional well-being of the patients.
• As augmented reality, intelligent virtual assistants, and virtual reality continue to improve, so does the field of human augmentation. The market has become obsolete with previous items due to constant advances. Older technology is left without customers due to the market's ongoing need to alter and enhance it, which costs companies in the market money.
  • Due to these goods' limited shelf lives on the market, the high capital costs incurred to manufacture new technologies, which pose a threat to the global market.

Attributes	Details
Human Augmentation Technology Market CAGR (2023 to 2033)	19.3%
Human Augmentation Technology Market Size (2023)	USD 184.13 billion
Human Augmentation Technology Market Size (2033)	USD 1,078.32 billion

Human Augmentation Technology Industry Analysis: Historical Expansion vs. Future Growth

Demand Analysis (2018 to 2022)

From 2018 to 2022, the industry had a CAGR of 17.2%, which is expected to develop at a 19.3% CAGR during the forecast period. The market's value increased, going from USD 82.77 billion in 2018 to USD 156.44 billion in 2022 as it expanded.

The key players in the human augmentation sector are pursuing a variety of growth strategies to stay competitive in the market. This includes mergers and acquisitions, the introduction of new products, regional expansion, and product innovation. To encourage children aged 6 and above to get active and form good habits, Fitbit, for instance, produced the Ace 3 special edition: minions in June 2021.

Future Scope (2023 to 2033)

Numerous businesses have conducted research and developed improved augmentation methods and equipment in response to the increase in demand for human augmentation. As it is a more complex and long-lasting technology than traditional approaches, near-infrared spectroscopy is becoming popular in the medical industry for use in brain imaging.

3D bioprinting technology is advancing alongside new developments in human augmentation. Custom implants, prosthetics, and tissues that completely meld with the human body are produced via 3D bioprinting. Between 2023 and 2033, this creates an incremental opportunity of USD 894.19 billion.

Regional Analysis

Countries	Market Share (2022)
United States	18.7%
Germany	8.7%
Japan	4.3%
Australia	3.2%

Gene Editing Development Broadens the Revenue Streams of the United States

Due to its early embrace of cutting-edge technology, North America dominated the market with a share of 30.2% in 2022. The region's increased usage of robots has accelerated the development of human augmentation technology, as well as medical research and medical equipment.

The emergence of both gene-editing and artificial intelligence technologies is driving the industry of human enhancement to explosive expansion. Additionally, the existence of multiple significant enterprises influences the scale of the market.

The United States is now leading the human augmentation technology market, and it is anticipated to lead during the forecast period. Moreover, technological advancements in medical wearables have driven the demand for human augmentation technology in the United States.

Human Augmentation Technology Projects Expand the United Kingdom Market

Throughout the projection period, the Europe market saw rapid revenue growth, with a share of 24.3% in 2022. This is linked to the region's developing technology and growing need for platforms for application performance management across a variety of industrial verticals.

DASA (Defense and Security Accelerator), for instance, focuses on the ways that human augmentation helps with defense and security. To find Generation-After-Next (GAN) human augmentation technologies for military and security purposes, DASA has created a new Innovation Focus Area.

In the United Kingdom defense and security industries, where human performance is a barrier to attaining operational effect, this IFA is searching for concepts that suggest GAN solutions to operational challenges. Due to this, the United Kingdom market is expected to have a CAGR of 18.3% by 2033.

Project’s Subject	Details
Tech-innovation	Research on neural interfaces and brain-computer interfaces has been actively conducted by institutes and researchers in the United Kingdom. This involves the creation of technologies that let the human brain communicate with outside gadgets, enabling users to command assistive technology or operate computers with their thoughts. Wearable technology and augmented reality (AR) gadgets have developed in the United Kingdom, and they are expected to be used to augment people. Real-time feedback, improved sensory experiences, and support for numerous areas of human performance and well-being are all possible with these technologies.
Healthcare and Life Sciences	The ambitious project Genomics England seeks to sequence 100,000 whole genomes from National Health Service (NHS) patients. By examining genetic data to comprehend the origins of illnesses and generate specific therapies, it promotes research and customized therapy. The Cell and Gene Therapy Catapult is an organization devoted to the creation of cutting-edge treatments. It helps the development of the United Kingdom's cell and gene therapy business and encourages the translation of promising research into marketable products.

Asia Pacific Market Focus on Research and Development

Countries	Market CAGR (2023 to 2033)
India	19.4%
China	16.2%

During the forecast period, the Asia Pacific market is anticipated to post a consistently high rate of revenue growth. This is linked to rising research and development spending, as well as increased knowledge about and advancements in exoskeleton technology.

For instance

• China recently unveiled a different kind of powered exoskeleton suit for military use. It was used for carrying ammunition after a previous type of non-powered exoskeleton suit entered service with People's Liberation Army (PLA) border defense troops in late 2020 for tasks like supply delivery, patrol, and sentry duty.
• Chinese institutes and academics have been working hard to understand neurological illnesses and create aids for those suffering from paralysis or locked-in syndrome. Research on brain-controlled robots and neurorehabilitation methods falls under this category.
• Devices for augmentative and alternative communication (AAC) and rehabilitation aids benefit the Indian market. Some groups in India are attempting to provide AAC devices and accessible, cheap rehabilitative tools for people with impairments. These initiatives seek to improve communication and movement for those who have speech or physical disabilities.
• A government program called BIRAC promotes investigation and invention in the field of biotechnology. They assist and fund enterprises and research initiatives in fields connected to human enhancement technologies, such as tissue engineering, regenerative medicine, and biomaterials.
• AIIMS and other medical research organizations in India focus on tech development. These developments include the application of cutting-edge medical imaging technologies
  • 3D imaging
  • Functional MRI
  • Other diagnostic tools

These technologies are essential for comprehending human anatomy and supporting surgical procedures.

Category Analysis

Which Type is Popular in the Human Augmentation Technology Sector?

Having 56.7% of market revenue in 2022 coming from the body-worn sector, the market was led by this category. The market for wearable devices to track fitness and health metrics is anticipated to expand quickly as demand increases. Wearable technology is improving in terms of cost-effectiveness for a variety of consumer applications due to the development of miniaturized multifunctional ICs.

Due to enhanced sensor technologies and downsized multifunctional ICs, several consumer applications are becoming more cost-effective. The market for non-body-worn gadgets is anticipated to expand rapidly. According to estimates, the market growth for VR and AR software is positively impacted by the increased demand for these devices for gaming and entertainment apps.

Medical Sector Dominates the Market with Expanding Biotechnology Development

The medical sector dominated the market with a share of 30.5% in 2022. Consumer demand for fitness tracking devices like Fitbits, smart watches, oximeters, and portable heart monitors has grown as a result of the pandemic, which has helped the market.

The consumer electronics and healthcare sectors, among others, have a high market demand for wearable technology, which is fueling the adoption of human augmentation. Such human enhancement helps a lot of individuals, helping them overcome physical stress or psychological abilities.

Competitive Landscape

How Human Augmentation Technology Companies Compete in the Market?

Key businesses in human augmentation technology are making significant investments in research and development to diversify their product offerings. Significant market developments include new product releases, mergers & acquisitions, contractual agreements, greater investments, and collaboration with other organizations. Market participants are also engaging in a variety of strategic initiatives to increase their footprint.

Recent Development:

• A Paris-based company called Wandercraft collected US$ 45 million in January 2022 to hasten the launch of the first self-balancing exoskeleton ever created. Using a series of algorithms, the exoskeleton on Wandercraft accomplishes self-balancing by maintaining the machine's perfect balance while the user moves.
• Apostera, a German-based provider of automotive technology, was purchased by HARMAN International in February 2022.
  • HARMAN International is a subsidiary of Samsung Electronics Co. The firm widened its vehicle AR/MR experience design with this purchase, expanding its product offerings for the industry.
  • Samsung Electronics Co., Ltd. (South Korea) introduced the Galaxy Watch4 and 4 Classic in August 2021.
  • These items include the brand-new Samsung BioActive Sensor, which offers real-time measurement of several body composition metrics, including water content and fat %.

• Vuzix Corporation (United States) introduced Blade, eyewear using the company's brand-new waveguide technology, in September 2020. To eliminate eye obstructions and distractions, waveguides integrate digital instructions into actual work. The smart glasses offer additional features, including auto scan cameras and noise reduction, in addition to waveguide optics.

Key Players

• SAMSUNG
• Panasonic Corporation
• Microsoft
• TOYOTA MOTOR CORPORATION
• General Motors
• Google
• FOSSIL GROUP
• Raytheon Technologies Corporation
• Life Sense Group
• Garmin Ltd

Key Segments

By Type:

• Body Worn
• Non-body Worn

By Application:

• Medical
• HealthCare
• Defense
• Industrial
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

Frequently Asked Questions

How Big is Human Augmentation Technology Market?

The market is valued at USD 184.43 million in 2023.

Who are the Key Market Players?

Samsung, Microsoft, and Google are the key market players.

Which is the Key Segment by Type?

The body worn is likely to remain preferred through 2033.

Which is the Go-to-Market Strategy?

Players opt for mergers and acquisitions.

Which are the Key Asian Countries in the Human Augmentation Technology Market?

India, Japan, and China dominate the Asian market.