Global Human Enhancement Market: Overview
The demand within the global human enhancement market is rising on account of advancements in the field of artificial intelligence. The use of artificial intelligence technologies while performing alterations on the human body has increased the rate of success for these processes. This factor has also contributed towards causing a demand-uptick within the global human enhancement market.
The medical fraternity is keen on inducting cutting-edge technologies that can add value to patients as well as non-patients. Human enhancement can largely help in accomplishing this goal by providing options of cosmetic enhancement, performing-improvements, and organ replacement.
The application of human enhancement spans into a wide range of domains such as orthodontics, dermatology, neurology, and genetic engineering. Hence, the human enhancement market is expected to attract fresh revenues from multiple areas and sources. Furthermore, investments in smart healthcare have also paved way for the growth of the global human enhancement market.
Doctors and medical professionals have approved human enhancement as a useful technique for performing implants and biological modifications. This factor shall aid market growth because the collective stance of medical professionals plays a vital role in popularising healthcare-related technologies.
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A report by Transparency Market Research (TMR) on the global human enhancement market explains multiple dynamics pertaining to market growth. The global human enhancement market can be segmented on the basis of the following parameters: product type, application, and geography. On the basis of product type, the demand for exoskeletons is expected to rise at a stellar pace in the years to follow.
Global Human Enhancement Market: Notable Developments
The global human enhancement market has undergone multiple advancements in recent times. Some of the key developments are listed below:
- Google Inc has emerged as a key player within the human enhancement market. The company has recruited some of the best medical experts, scientists, and AI specialists. This strategy has helped Google in developing improved modes for human enhancement. With a strong base for promoting its products and developments, Google is expected to outdo its competitors within the global human enhancement market.
- Ekso Bionics has developed the most well-acclaimed exoskeleton in recent times, and this factor could play a key role in enhancing the growth prospects of the company. Rehabilitation centers are extensively using exoskeletons manufactured by Ekso Bionics.
Other prominent vendors in the global human enhancement market are Samsung Electronics Co. Ltd, B-Temia Inc., and Vuzix Corporation.
Global Human Enhancement Market: Growth Drivers
- Cognitive Enhancements to Gain Popularity
Human enhancement involving the use of performance-enhancement drugs has gained immense popularity in recent times. Furthermore, the cognitive stimulus that can be generated through human enhancement has also led to the growth of the global human enhancement market.
- Use of Exoskeletons in Multiple Industries
The global human enhancement market is projected to earn formidable revenues from the rising demand for exoskeletons. Some of the key areas where exoskeletons hold value are military, medicine, and manufacturing. Rising incidence of disorders related to body movements such as Parkinson’s disease and multiple sclerosis has also aided market growth.
Global Human Enhancement Market: Regional Outlook
On the basis of geography, the global human enhancement market has been segmented into North America, the Middle East and Africa, Europe, Asia Pacific, and Latin America. The human enhancement market in North America is expanding alongside advancements in artificial intelligence.