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.
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 nootropics.
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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.
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By region, the global nootropics market includes Europe, North America, the Middle East, and Africa, Latin America, and the Asia Pacific. North America contributed a considerable revenue share in 2017, owing to the rising number of consumers spending on health and wellness products. 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 Latin American market for nootropics is expected to grow owing to growing consumer awareness about the benefits of nootropics. The Middle Eastern and African nootropics market is projected to grow in the years ahead, due to the rise in the number of nootropic manufacturers and distributors in the region.
Following 15 Chapters speaks to the Nootropics Market all inclusive:
Chapter 1, enroll the objective of worldwide Nootropics Market covering the market presentation, item picture, advertise rundown, advancement scope, Nootropics Market nearness;
Chapter 2, examines the key worldwide Nootropics Market contenders, their business volume, showcase benefits and cost of Nootropics Market in 2016 and 2025;
Chapter 3, demonstrates the focused scene perspective of worldwide Nootropics Market based on prevailing business sector players and their offer in the market development in 2016 and 2025;
Chapter 4, leads the locale savvy investigation of the worldwide Nootropics Market dependent on the business proportion in every district, and piece of the pie from 2016 to 2025;
Chapter 5,6,7,8 and 9 shows the key nations present in these districts which have income share in Nootropics Market;
Chapter 10 and 11 depicts the market dependent on Nootropics Market item class, wide scope of utilizations, development dependent on market pattern, type and application 2016 to 2025;
Chapter 12 demonstrates the worldwide Nootropics Market designs amid the estimate time frame from 2016 to 2025 isolated by locales, type, and item application.
Chapter 13, 14, 15 makes reference to the worldwide Nootropics Market deals channels, advertise merchants, merchants, showcase data and study ends, supplement and information sources.
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Some key players of the global nootropics market report are Accelerated Intelligence, Inc., Nootrobox, Inc., AlternaScript LLC, Onnit Labs LLC, Cephalon, Inc., Clarity Nootropics, Peak Nootropics, United Pharmacies, Powder City LLC, Purelife Bioscience Co., Ltd, and SupNootropic Biological Technology Co., Ltd., among others.
This report segments the global nootropics market into:
Global Nootropics Market: Application Analysis
- Memory Enhancement
- Mood and Depression
- Attention and Focus
- Longevity and Anti-aging
- Sleep, Recovery and Dream Enhancement
As one of the lead news writers at the concepts news, Hiren’s specialization lies in the science, technology, Health & business domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Hiren’s take on the impact of digital technologies across the technology, health and business domains gives his writing a fresh and modern outlook.