Pune, India, Sept. 27, 2022 (GLOBE NEWSWIRE) — The nootropics market is anticipated to achievement traction from the increasing demand for smart drugs across the world. Nootropics are called intellectual enhancers are drugs that better the cognitive functions such as memory and learning in the human body. The report may cap several nootropics market trends, one being the rising preference towards supplements among individuals. The dual-trained neuroscientist and brain surgeon named Dr. Rahul Jandial in one of his interviews declared that nootropics are miracle brain drugs that helps us to boost brainpower.
Nootropics are a class of supplements that are purported to improve cognitive function. Nootropics are often marketed as “brain enhancers” and are used by people who want to improve their memory, focus, and attention. There is no single nootropic that is effective for everyone. Different nootropics work better for different people. Some nootropics are designed to improve memory, focus, and attention. Others are designed to improve mood and cognitive function.
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KEY INDUSTRY DEVELOPMENTS
May 2019: Reckitt Benckiser Group plc. Thrives into the nootropics market by launching a new dietary supplement ‘NEURIVA’.
April 2019: One of the leading herbal brands in North America called Gaia Herbs announces the launch of vegan nootropics. The supplements launched includes AGILE MIND, BACOPA, and NOOTROPIC FOCUS. These supplements aim to improve the mental performance of individuals.
Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Base Year | 2021 |
| Historical Data for | 2018 to 2020 |
The report provides qualitative and quantitative analysis of the market by highlighting information on different aspects. These aspects include drivers, opportunities, challenges, and trends. Detailed information on drivers and restraints will help the reader to understand the present and future scenario of the market. Depending on this analysis, the user can enhance his/her decision making of investing into this business. Another important aspect is competitive landscape, that includes information on key players and their share in the global market. The report offers information on different strategies adopted by these players and industry developments, thereby helping stakeholders to get a 360-degree view of the market.
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Increasing Prevalence of Depression to Create Sales Opportunities in North America
Among regions, the market in North America covered the majority share in the year 2017. People in this region are suffering from depression, mental illness, and anxiety owing to the high adoption of unhealthy lifestyle and changing food habits. As per a study conducted by the Anxiety and Depression Association of America, around 40 million suffer from anxiety disorders in the U.S. each year. Following north America, the market in Europe and Asia Pacific is projected to exhibit considerable growth in the forecast years. The high demand for nootropics in these regions is the main factor driving the market. In addition to this, the rising prevalence of Alzheimer’s, Parkinson’s, and other mental disorders is expected to create growth opportunities for the market in these regions.
Nootropics are often marketed as “brain enhancers” and are used by people who want to improve their memory, focus, and attention. Nootropics are often expensive. Some nootropics, such as piracetam, are available for purchase without a prescription. Other nootropics, such as phenylpiracetam, are available only through a prescription from a doctor.
Soylent to Launch Nootropic Energy Drink; Pioneer Energy Drink Formulated for Body and Mind
“Cost-effectiveness is one of the primary factors responsible for driving the nootropics market growth,” says a lead analyst at Fortune Business Insights. “People around the world are increasingly becoming aware of this smart drug, that is expected to further push the market to grow,” he added. Increasing prevalence of mental disorders is compelling companies to bring advanced products. For instance, Soylent announced the launch of a new nootropic drink called Soylent stacked in January 2020. This is a ready-to-drink energy drink and aims to improve the accuracy and focus of individuals. Nootropics are stimulants that can help one to focus on work and has the potential to increase energy. Easy accessibility of these drugs is likely to encourage the market to grow, thereby increasing their demand in the market.
These drugs are made of FDA approved ingredients called caffeine and multivitamins. Furthermore, these smart drugs help in the treatment of serious cognitive disorders and diseases such as Alzheimer’s, Parkinson’s, dementia, among others. As per the World Health Organization (WHO), around 300 million people across the world are suffering from depression. The study shows that more women are suffering from depression than men. Considering this, the demand for nootropic drugs is expected to fuel in the forthcoming years.
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On the other hand, people, especially in developing countries are hesitant to visit a psychiatrist or neurologist, that may inhibit the market growth. Side effects of nootropics include fatigue, headaches, and insomnia, restricting the market to expand. Nonetheless, emergence of advanced technologies will give rise to innovative products. This, in turn, is anticipated to boost the market during the forecast period.
The report further focusses on different nootropics market trends covering applications such as mood and depression, memory enhancement, attention and focus, sleep, anti-aging and longevity, and others. Among these, memory enhancement is expected to cover the highest nootropics market share in the foreseeable years. This is attributable to the positive transition sin education system, focussing on mental stress and workload.
Some of the players operating in the global nootropics market are:
- Purelife bioscience Co., Ltd.
- TruBrain
- HVMN Inc.,
- Peak Nootropics
- AlternaScript HQ
- SupNootropic bio co. Ltd
- Accelerated Intelligence, Inc.
- Onnit Labs LLC
- Clarity Nootropics
- OptiMind
- Others.
Segments–
| Market Segmentations | By Form
· Tablet · Capsule · Powder · Liquid |
| By Application
· Memory enhancement · Mood & Depression · Attention & Focus · Anti-aging & longevity · Sleep · Others |
|
| By Distribution Channel
· Hospital Pharmacies · Online Pharmacies · Others |
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