The purpose of this research study titled ‘Nootropics Market – Growth, Future Prospects, and Competitive Analysis, 2016 – 2024’ is to provide investors, developers, company executives, and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global nootropics products market. This report presents and analyses the major trends prevalent in the global nootropics market and the market size and forecast.
Based on application types, this report studies the global nootropics market into memory enhancement, mood and depression, attention and focus, longevity and anti-aging, sleep, recovery and dream enhancement, and anxiety applications. Market size and forecast for each mentioned segment for the period 2014-2024 are presented in the report along with respective CAGRs for the forecast duration 2016-2024.
Geographically, the global nootropics market is best understood by segmenting the market into five major regions and chief country-level markets as follows:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
This report also includes qualitative assessment factors such as market dynamics (drivers, challenges, and opportunities) to have a good understanding of the current and anticipated market trends. Competition assessment tools such as market attractiveness assessment and competitive landscape analysis by key players are also presented in the study. This report also includes profiling the top 30 nootropics commercially available in the global market.
Furthermore, this report concludes with a profiling of key market players currently enjoying prominent positions in the market. Some of the key players profiled in this report are Nootrobox, Inc., Cephalon, Inc., Purelife Bioscience Co. Ltd., Peak Nootropics, Nootrico, SupNootropic Biological Technology Co. Ltd., AlternaScript LLC, Accelerated Intelligence, Inc., Onnit Labs LLC, Powder City LLC, Ceretropic, Nootropic Source, and Clarity Nootropics.
The global nootropics market is studied for the following applications:
- Memory Enhancement
- Mood and depression
- attention and focus
- Longevity and anti-aging
- Sleep, Recovery, and Dream Enhancement
Nootropics or smart drugs comprise compounds that enhance brain function. These drugs are becoming increasingly popular in the developed world to give the mind an extra boost. Several nootropics claim promising benefits such as focus, motivation, and boosting memory, and there is research in place to support their specific claims. Yet, a majority of effective nootropics are not intended for use without prescription to treat a specific condition; moreover, the recreational use of nootropics is highly debated among physicians and researchers. Among the application types, nootropics find the widest application in memory enhancement.
Students, entrepreneurs, investment bankers, scientists, artists, and Silicon Valley incumbents are increasingly opting for memory enhancers to sharpen their minds in order to gain a competitive edge. Memory-enhancing nootropics augment learning capacity and information retention, resist disruption, increase brain functions and protect the brain from chemical harm. At present, memory-enhancing nootropics hold the largest market share due to growing awareness with respect to the promised benefits to students and the working population.
Geographically, the global nootropics market is cumulative to North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America
In the base 2015, North America was observed as the largest market for nootropic drugs. The rising population increased consumer awareness for preventive and cognitive healthcare, the rise of the self-directed consumer, and channel proliferation are the factors that drive the nootropics market in North America. Europe accounted for the second largest market for nootropic drugs. The market is driven by the substantial increase in the demand for cognitive healthcare products among the youths in the region. Asia Pacific is anticipated to be the fastest-growing nootropic market. The major reason is the population in the region supported by the favorable regulatory scenario in the region. The market is also being driven by the growth of emerging markets, interest in new delivery formats, consumer awareness of the benefits of nootropic drugs, and the availability of new products.
The detailed regional classification of the global nootropics market is as follows:
- North America (U.S. and Canada)
- Europe (U.K., Germany and the Rest of Europe)
- Asia-Pacific (Japan, China, and Rest of Asia-Pacific)
- Latin America
- Middle East and Africa