By Thomas Kostigen
Biohacking is defined as the experimentation outside a traditional medical or scientific research environment to improve your health, wellness and longevity. In short, it’s do-it-yourself health and medicinal care using forward-thing and outside-the-box treatments and devices such as wearable electronics that track stress and other conditions as well as smart drugs that claim to boost memory capacity and learning.
Indeed, biohacking is a catch-all term for supplements, mobile apps, wearables, implants (chips), gene modification kits, smart drugs and clinics. The ultimate mission for all of these categories is to live better, stronger, faster, and longer.
Just as outsized as these claims may be, is the market’s growth; it’s exploding. The biohacking market is estimated at more than $18 billion and is expected to expand through 2028 at a nearly 20 percent compound annual growth rate.
Grand View Research reports that the wearables segment holds the largest revenue share of the market because of the increased adoption of wearable medical devices, which include smartwatches, patches, and smart rings, among others. “The rising focus of market players on this segment will support its growth in the years to come,” Grand View says.
Other segments, as mentioned, include facilities and software, as well as products and services.
Lots of players have entered the biohacking market and are ramping up their marketing.
Dave Asprey, chief executive of the Bulletproof brand, is a key player in the industry. He acts as a sort of spokesman and torch bearer for the latest news and information, which can be found on his podcast and website. He also of course, has an expanding menu of products designed to help you live better and longer. Dave claims he’ll live until he is 180 years old.
Asprey is hosting along with a bevy of sponsors a biohacking conference in September in Orlando, Florida. There, you could see for yourself what it might take to live longer. As advertised: “You will connect with the world’s most innovative minds in the field of human optimization and biohacking. Be inspired, find your tribe and transform into an Upgraded human.”
Meanwhile, publicly traded companies are embracing the biohacking movement. Apple’s smartwatch is a go-to wearable for biohackers, as are Fitbit devices. Mobile apps complement the hardware. Some of the more prominent companies in the biohacking space are, according to Grand View: Apple; The ODIN; Thync Global Inc.; Fitbit, Inc.; Moodmetric; HVMN Inc.; Muse (Interaxon Inc.); Thriveport, LLC; TrackMyStack; and OsteoStrong.
A good financial advisor can help you sort through the matrix of biohacking companies and products that may drive growth. He or she can also let you know that it’s going to take financially if your goal is to live longer. As it stands, nearly two thirds of Americans aren’t properly prepared for retirement, according to recent surveys. And that’s with the current life expectancy of 77 years.
Perhaps biohacking products and services will in fact lead us all to lead longer lives. But we’ll somehow have to support ourselves through the later ages. A financial hack for that would be welcome, I’m sure, to advisors and individuals alike.
Thomas Kostigen is a contributing writer to MyPerfectFinancialAdvisor, the premier matchmaker between investors and advisors. Thomas is a best-selling author and longtime journalist who writes about environmental, social, and governance issues.
