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Global Nootropics Market Will Reach USD 5,959 Million By 2024: Zion Market Research
Adaugat pe 08/08/2019 16:34:00 de freemexy

Zion Market Research has published a new report titled “Nootropics
Market By Application (Memory Enhancement, Mood and Depression,
Attention and Focus, Longevity and Anti-Aging, Sleep, Recovery, and
Dream Enhancement, and Anxiety): Global Industry Perspective,
Comprehensive Analysis, and Forecast, 2017—2024”. According to the
report, the global nootropics market was valued at around USD 1,324
million in 2017 and is expected to reach approximately USD 5,959 million
by 2024, at a CAGR of around 15.7% between 2018 and 2024.Best Nootropic Powder

Nootropics are also known as cognitive enhancers or smart drugs.
These include supplements, drugs, and other related substances that can
advance cognitive function, mainly executive functions, motivation,
creativity, memory, or attention in healthy individuals. Nootropics can
be synthetic or natural substances that are preferred widely to enhance
an individual’s mental performance. Caffeine, L-Theanine, Creatine,
Bacopa Monnieri, and Rhodiola Rosea are some of the popularly used
The progression of the nootropics market is primarily
due to the rising consumer expenditure on healthcare and wellness.
Moreover, the growing competition in education and career demands a
workforce that is not only competitive but also talented. To gain a
competitive advantage, a large number of people globally prefer
supplements and smart drugs for improving their concentration and
grasping power. This, in turn, is estimated to boost the nootropics
market in the near future. The extensive and continually growing list of
potential nootropics is predicted to increase the number of prospective
consumers within the forecast timeline.

By application, the global nootropics market is classified into mood
and depression, memory enhancement, attention and focus, anti-aging and
longevity, sleep, recovery and dream enhancement, and anxiety. The
memory enhancement is the held a considerable share in terms of revenue
in the year 2017, due to a rapidly evolving working environment and the
education system that gradually involves workload and mental and
physical pressure to succeed. Moreover, the increasing aging population
is at risk of suffering from dementia. The attention and focus and mood
and depression are other applications. The increasing trend of cognitive
enhancement among healthy individuals for professional advantage,
personal improvement, academic success, athletic performance, and to
sustain brain activities during old age is estimated to boost the demand
for nootropic products over the projected timeline.
North America
contributed a considerable revenue share in 2017 and is estimated to
lead during the forecast timeline. Robust distribution network and the
increasing number of self-directed consumers are estimated to propel
this regional market. Moreover, the ongoing research activities by
private and government institutions in related to brain supplements and
cognitive enhancers are estimated to offer new growth opportunities to
the players operating in the region’s nootropics market over the
forecast time period.

The European nootropics market is likely to exhibit a considerable
revenue share in the upcoming years. France, Germany, and Italy are
major regional contributors, due to an increased number of new product
launches. Additionally, the growing geriatric population base and rising
healthcare costs across Europe are estimated to support this regional
market over the estimated time period.
Asia Pacific nootropics
market is another important region that is likely to register a
considerable rate of growth over the forecast span, due to the
increasing penetration of nootropics organizations in China and India.
The rising foreign investment is predicted to drive the nootropics
market in the upcoming years.

The Latin American market is predicted to record a stable growth rate
over the forecast time period. The increasing number of consumers with a
high disposable income coupled with huge spending on healthcare and
wellness is estimated to boost the demand for nootropics products in the
region within the estimated timeline.

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