Nootropics Market Report

Market Insights

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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What are Nootropics?

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

Key players operating in the global nootropics market are-

• 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).

Market Dynamics

Increasing demand for smart drugs and brain boosters is likely to augment the demand for nootropics.

• A large number of professionals and students consume these smart drugs to enhance memory and focus.
• Continuous product development using both natural and synthetic raw materials is further expected to propel market growth.
• Furthermore, the surge in the vegan population in developed countries of Europe and North America is further expected to boost the need for plant-based nootropic products.
• In addition, the surging demand for multi-utility drugs that work as an energy booster, antidepressants, and anxiety resistance further offer immense opportunities to the product manufacturers.

Segment Analysis

Distribution Channel Trends

Based on distribution channels, the global nootropics market has been bifurcated into offline and online.

• Among these, the online segment held a substantial market share in 2020 and is projected to register a robust CAGR of almost 14% during the review period.
• This is mainly attributed to the growing preference for nootropics by students.
• Easy payment platforms that fit into regulatory standards of various countries have made payment operations easier.
• Thus, key industry participants focus on online distribution channels to widen their customer base.

Regional Trends

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.

• This can be attributed to the presence of major healthcare companies, increasing consumer awareness about brain health, and changing lifestyles are expected to boost regional growth.
• Around 50% of the adult population in the US consumes vitamin supplements, this is a key contribution to the regional nootropic industry.

COVID-19 Impact on Global Nootropics Market

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.

Critical Questions Answered in the Report

• What are the key trends in the global nootropics market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global nootropics market?
• What are the key strategies adopted by the major vendors to lead in the global nootropics market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Nootropics market hopes to have the greatest opportunity to convert-

• Nootropics companies
• Pharmaceutical companies
• Hospitals
• Academic Institutions
• Research Centers & Organizations

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