Nootropics market was valued at USD 10.90 billion in 2021 and is expected to reach USD 30.75 billion by 2029, registering a CAGR of 13.85% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
In recent years, the nootropics market is anticipated to grow rapidly during the forecast period. Nootropics help the brain focus, which is very useful for athletes. As a result, businesses have targeted these customers carefully. For instance, Koios, a nootropic beverage company based in Colorado, promotes its products by hiring elite athletes for advertisements and supporting well-known e-sports teams. Citicoline, Choline bitartrate, Alpha-GPC, Caffeine, and N-Acetyl-L-Tyrosine are examples of naturally produced nootropics that aid in focus enhancement. To meet the overwhelming demand from consumers, goods makers have started releasing new products.
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Market Analysis and Insights: Global Nootropics Market:
Nootropics are supplements, smart medications, psychological enhancers, pharmaceuticals, or other substances that can help people with good health improve their cognitive function, specifically executive functions, motivation, creativity, and memory. These are available in both prescription as well as non-prescription forms. Prescription nootropics are drugs that are used to treat conditions such as Alzheimer's disease, attention deficit hyperactivity disorder (ADHD), and narcolepsy. Non-prescription medicines are used to improve concentration and brain performance rather than to treat ailments.
The rising prevalence of COVID-19 across the globe is a major factor driving the nootropics market's growth rate. The COVID-19 pandemic contributed significantly to the increase in demand for nootropics, as consumers' preferences for brain-health enhancing supplements, drinks, and bars to improve their cognitive health evolved. Furthermore, because to the COVID-19 pandemic, various entrepreneurs and retailers gained from online nootropics sales.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the nootropics market. Additionally, high demand for organic nootropics including coffee and supplements and natural ingredients such as arctic root, Brahmi, ginseng, turmeric, and pine bark will result in the expansion of the nootropics market. Along with this, rising geriatric population and surging demand for brain boosters and smart drugs will enhance the market's growth rate.
Global Nootropics Market Scope and Market Size
The nootropics market is analyzed and market size insights and trends are provided by country, type, indication, dosage form, route of administration, end-users and distribution channel as referenced above.
The countries covered in the Nootropics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the nootropics market because of the growing focus of major key players on novel technology and rising healthcare as well as research and development expenditure will further propel the market’s growth rate in this region.
Asia-Pacific are expected to grow during the forecast period due to surging awareness of cognitive health supplements in this region. Also, development of healthcare infrastructure will further propel the market’s growth rate in this region.
Table of Contents: Global Nootropics Market
1 Introduction
2 Market Segmentation
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Covid-19 Impact on Nootropics in Healthcare Industry
7 Global Nootropics Market, by Product Type
8 Global Nootropics Market, by Modality
9 Global Nootropics Market, by Type
10 Global Nootropics Market, by Mode
11 Global Nootropics Market, by End User
12 Global Nootropics Market, by Geography
13 Global Nootropics Market, Company Landscape
14 Swot Analysis
15 Company Profiles
16 Questionnaire
17 Related Reports
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