Global Nootropics Market report 2020:
A new report on the Nootropics global market has been published and added to the ever-growing database of Reports and Data, which includes a detailed study of the industry, covering different aspects of the market and the growth scenario over the forecast period, 2020 -2026. The report is inclusive of valuable insights and information which are segmented on both global as well as regional basis. The information has been gathered by means of various sources, and the information is arranged, processed, and represented through different methodological techniques and analytical tools like the SWOT analysis to generate an entirely new set of trade-based study regarding the Nootropics Market.
The global nootropics market was valued at USD 1.96 billion in 2018 and is expected to reach USD 5.31 billion by the year 2026, at a CAGR of 13.2%.
This is the only report that is inclusive of the current effect of the coronavirus on the market and its forecasted trend. The coronavirus has impacted all sectors of the world economy, and its impacts on the Nootropics market are elucidated in-depth in this report.
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Top Players of the Market:
Accelerated Intelligence Inc., AlternaScript; HVMN, Onnit Labs, Inc., Peak Nootropics, Teva Pharmaceutical Industries, Purelife bioscience Co., Ltd., United Pharmacies, SupNootropic bio co., Ltd.
The report evaluates the CAGR value as well as the market value based on the key market dynamics and growth-inducing factors. This study is based on the latest industry news, growth potentials, and trends. The study is meticulously drawn and is exclusively centered around the market scenarios, competitive landscapes, and the influential participants of the markets.
Segmentation of products:
Drug Type Outlook (Revenue in Million USD; 2016–2026)
- Prescription Nootropics
- OTC Nootropics
Application Outlook (Revenue in Million USD; 2016–2026)
- Memory Enhancement
- Mood & Depression
- Attention & Focus
- Longevity & Anti-aging
- Sleep & Recovery
Distribution Channel Outlook (Revenue in Million USD; 2016–2026)
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The report covers and elucidates how the market fares in the different regions of the world; the regions included in this study are:
- North America
- Latin America
- Middle East and Africa
The regions are assessed on their capacities to transform into areas where the Nootropics market can flourish and prosper. As of the present speculations, North America and the Asia Pacific region are expected to show exponential growth and expansion. With Europe and Latin America developing a market for the Nootropics.
Key Offerings of the Report:
- The application type segment is dominated by the memory enhancement type nootropics owing to the challenging work environment demanding potential employees. It is anticipated to grow at a CAGR of 13.7 % during the forecast period.
- HVMN, a U.S. based manufacturer and seller of ketone associated products launched HVMN Ketone at the beginning of 2018, which is claimed to enhance both physical and cognitive performance.
- In recent years, consumer have shifted to organic nootropics as well such as coffee, matcha tea, green tea, kucha tea, spinach, beets, peanuts, eggs, liver, brahmi, arctic root, turmeric, ginseng, pine bark, and fish oil.
- According to the American Exercise Council (ACE), around 50% of the consumers in the U.S. prefer to buy natural ingredient products. The growth in vegan population is expected to drive demand for natural products in developed regions such as Europe and North America.
- Manufacturers for Nootropics are focused on natural ingredients to satisfy the growing demand. For instance, Gaia Herbs launched a new product in April 2019 called Bacopa a vegan supplement made using natural ingredient. It contains lemon balm, saffron and spearmint.
- North America remains the key revenue generating geographical segment in this market. The geographical segment accounted for USD 740.1 million in 2018. Availability presence of key market players in the region, rising focus on precision medicine, and rising awareness about nootropics applications, are among the key factors driving the market growth for Nootropics in this region
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In the end, the report covers segment data, including industry segment, type segment, channel segment, etc., as well as the segments’ market size, both in terms of volume and value. In addition, the report mentions client data from different industries, which is vital to manufacturers. The report has been collated with in-depth secondary research, comprehending the market access aspects across various geographies.
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