Articles
Nootropics Market Size, Share, Growth, Trend Analysis and Industry Research Report
by Susan Hill Business ConsultantThe
global nootropics market size is expected to reach USD
4.94 billion by 2025, according to a new report by Grand View Research, Inc. It
is projected to register a CAGR of 12.5% during the forecast period. Rising
expenditure on wellness and healthcare is anticipated to fuel the growth. In
addition, rising awareness regarding mental health among millennials in
developing countries including China and India is expected to boost the demand
for nootropics.
The memory
enhancement application segment led the nootropics market in 2018 and it is
expected to continue leading over the forecast period. Increasing consumption
of smart drugs to gain a competitive advantage in academic performance is
expected to positively influence the growth. Adrafinil, Noopept, Modafinil,
Phosphatidylserine, and Phenylalanine Nootropics help improve memory. A
significant part of the elderly population with mild Alzheimer’s disease is
also prescribed with these medications. In 2018, around 46 million people were
suffering from Alzheimer’s disease and dementia across the world. Finland,
U.S., Canada, Iceland, and Sweden have the highest population of dementia
patients. This factor is anticipated to drive the demand for nootropics.
Asia Pacific
is expected to register the fastest CAGR in the upcoming years. Rapid growth of
the academic, professional, and sports industries is anticipated to fuel the
regional product demand. Rising prevalence of Alzheimer’s disease in the
developing countries is expected to widen the scope of demand for nootropics in
the forthcoming years.
Key
competitors operating in the nootropics market include Accelerated Intelligence
Inc.; AlternaScript; HVMN; Onnit Labs, Inc.; Peak Nootropics; Teva
Pharmaceutical Industries; Purelife bioscience Co., Ltd.; United Pharmacies;
SupNootropic bio co., Ltd.; and Powder City. Product innovation is one of the
major business expansion strategies adopted by the market players. Growing
demand for natural products is encouraging the manufacturers to invest more in
R&D of natural nootropics and to expand their product portfolio.
Further key
findings from the report suggest:
- North America
held the largest market share of more than 37% in terms of revenue in 2018
- Asia Pacific is
expected expand at the fastest CAGR of 18.8% from 2019 to 2025. Hectic
lifestyle and fluctuating diet patterns among working population in
developing countries is expected to promote the demand for of nootropics
drugs
- Memory
enhancement application held the largest market share of over 30% in 2018,
owing to increased consumption of these products among students
- Online
distribution channel is expected register the fastest CAGR of 14.2% from
2019 to 2025
- Accelerated
Intelligence Inc.; AlternaScript; HVMN; Onnit Labs, Inc.; Peak Nootropics;
and Teva Pharmaceutical Industries are some the major players operating in
the nootropics market
Access
full research report on global nootropics market:
www.grandviewresearch.com/industry-analysis/nootropics-market
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About Susan Hill 
Business Consultant
145 connections, 2 recommendations, 567 honor points.Joined APSense since, September 25th, 2017, From California, United States.
Created on Nov 19th 2019 06:33. Viewed 447 times.
