Nootropics Market Report
The report on the Global Nootropics Market is segmented By Drug Type (Prescription Nootropics [Modafinil, Adderall, Methylphenidate, Memantine], OTC Nootropics [Ginkgo Biloba, Panax Ginseng, Rhodiola Rosea, Nicotine, Others]), By Application (Memory Enhancement, Mood & Depression, Attention & Focus, Longevity & Anti-aging, Sleep & Recovery, Anxiety), By Distribution Channel (Offline, Online) and Region.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global nootropics market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Nootropics Market is segmented By Drug Type (Prescription Nootropics [Modafinil, Adderall, Methylphenidate, Memantine], OTC Nootropics [Ginkgo Biloba, Panax Ginseng, Rhodiola Rosea, Nicotine, Others]), By Application (Memory Enhancement, Mood & Depression, Attention & Focus, Longevity & Anti-aging, Sleep & Recovery, Anxiety), By Distribution Channel ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Nootropics Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 7.4% during the forecast period.
Figure: Global Nootropics Market Size, 2020-2026 (USD Million)
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Nootropics are drugs or supplements that are consumed by sportsmen and adults to enhance memory and other cognitive abilities. These are available in both OTC form and prescription drug type, wherein the prescription nootropics are drugs that are used to treat diseases such as ‘attention deficit hyperactivity disorder’ (ADHD), Alzheimer’s disease, and narcolepsy. Whereas non-prescription drugs or OTC do not treat diseases but are consumed for improving brain performance and concentration capabilities.
Key players operating in the global nootropics market are-
Increasing demand for smart drugs and brain boosters is likely to augment the demand for nootropics.
Based on distribution channels, the global nootropics market has been bifurcated into offline and online.
By region, North America dominated the nootropics market in 2020 with an astounding share of around 40% and is projected to grow at a healthy CAGR during the review period.
The COVID-19 pandemic has positively influenced the nootropics industry. Concern over COVID-19, unemployment, and poor economic growth has resulted in a rise in the consumer’s stress levels which puts a strain on overall brain health. Thus, there has been a significant demand for nootropics that boost the mood and help to manage stress during this hard time, thus augmenting the market growth.
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Here is the list of the group of customers that the Nootropics market hopes to have the greatest opportunity to convert-
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The nootropics market is expected to witness an impressive growth of 7.4% CAGR in the foreseeable future.
Accelerated Intelligence Inc. (UK), AlternaScript (The U.S), HVMN (The U.S), Onnit Labs, Inc. (The U.S), Peak Nootropics (The U.S), Teva Pharmaceutical Industries (Israel), Purelife Bioscience Co., Ltd. (China), United Pharmacies (Moldova), SupNootropic bio co.,ltd (The U.S) and Powder City (The U.S) are among the key players in the nootropics market.
North America dominated the nootropics market in 2020 with an astounding share of around 40%.
Increasing demand for smart drugs and brain boosters, continuous product development using both natural and synthetic raw materials, the surge in the vegan population in developed countries of Europe and North America are the factors driving the growth of nootropics market.
Nootropics companies, Pharmaceutical companies, Hospitals, Academic Institutions, Research Centers & Organizations are the target audience in the nootropics market.