Nootropics Market To Grow Aggressively with Revenue $4.94 Billion By 2025 “The global nootropics market size is projected to touch USD 4.94 billion by 2025. It is anticipated to grow at a CAGR of 12.5% through the forecast period of 2019 to 2025. Increasing expenditure on healthcare and wellness is expected to proliferate the demand.”
The Global Nootropics Market Report offers details on current and future growth trends pertaining to the business besides information on numerous regions across the geographical landscape of the Nootropics Market. The study includes global, regional, and country-level market size, shares, growth rate analysis (include the causes of highest and lowest peak industry analysis), product launches, latest trends, the impact of covid19 on worldwide. Nootropics Market Research Methodology overview consists of primary and secondary research, company share analysis, model (including Demographic data, Macroeconomic indicators, and Industry indicators i.e. Expenditure, infrastructure, sector growth, and facilities, etc), Research Limitations, and Revenue Based Modelling. Comprehensive analysis of Nootropics Market based on current & future analysis depending on historic data also featured in this Report. The global nootropics market size is projected to touch USD 4.94 billion by 2025. It is anticipated to grow at a CAGR of 12.5% through the forecast period of 2019 to 2025. Increasing expenditure on healthcare and wellness is expected to proliferate the demand. Additionally, increasing awareness regarding mental illness amongst millennials in emerging economies like India and China is anticipated to propel the product demand.
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Memory enhancement application segment dominated the market in 2018 and is anticipated to continue dominating in the forecast period. Rising consumption of smart drugs amongst students to improvise their memory power and perform well in academics is expected to have a positive impact on the market growth. Some of the memory enhancement drugs are Modafinil, Adrafinil, Noopept, Phosphatidylserine and Phenylalanine. A considerable population belonging to the elderly age group and suffering from mild Alzheimer’s disease are also prescribed with these nootropics drugs. People having dementia also consume these drugs to overcome their impairment in memory and thinking. Asia Pacific is anticipated to grow at the fastest CAGR of 18.8% over the forecast period. Rapid development of the professional, sports and academic industries is expected to propel the product demand. Increasing number of people suffering from Alzheimer’s disease in emerging countries is anticipated to broaden the demand for nootropics drugs over the coming years. Key players functioning in the nootropics market include AlternaScript; Accelerated Intelligence Inc.; HVMN; Peak Nootropics; Onnit Labs, Inc.; Teva Pharmaceutical Industries; United Pharmacies; Purelife bioscience Co., Ltd.; Powder City and SupNootropic bio co., Ltd. Continuous innovation of products is one of the key expansion strategies for various companies. Increasing demand for natural ingredients in these products is motivating producers to invest immensely in R&D of natural nootropics and to broaden their product line.
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Further key findings from the report suggest: • North America dominated the market with above 37% of share in the total revenue in 2018 • Asia Pacific is anticipated to grow at the fastest CAGR of 18.8% over the forecast period owing to burdening lifestyle and unhealthy diet patterns amongst the working population in growing economies is anticipated to propel the demand for nootropics drugs. • Memory enhancement application segment dominated the market with more than 30% share in 2018 due to increase in consumption of nootropics products amongst students
• Online distribution channel is anticipated to grow at the fastest CAGR of 14.2% over the forecast period • HVMN; Peak Nootropics; Onnit Labs, Inc.; Teva Pharmaceutical Industries; and United Pharmacies are some of the key players of the industry Million Insights has segmented the global nootropics market on the basis of application, distribution channel and region: Nootropics Application Outlook (Revenue, USD Million, 2015 - 2025) • Memory Enhancement • Mood & Depression • Attention & Focus • Longevity & Anti-aging • Sleep & Recovery • Anxiety
Nootropics Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025) • Offline • Online Nootropics Regional Outlook (Revenue, USD Million, 2015 - 2025) • North America • U.S. • Europe • Germany • U.K. • Asia Pacific • China • India • Central & South America • Brazil • Middle East & Africa • South Africa
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