Dublin, March 01, 2022 (GLOBE NEWSWIRE) -- The "Global Nootropics Market, By Type (Prescription v/s Over the Counter), By Product Type (Natural v/s Synthetic), By Distribution Channel (Online v/s Offline), By Application, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The global nootropics market is projected to attain a significant growth in the forecast period, 2022-2026 with an impressive CAGR. The market growth can be attributed to the surging demand for the drugs and pharmaceuticals that support the brain's cognitive functions.
Moreover, the rapidly increasing demand for brain boosters and smart drugs among the student population is driving the growth of the global nootropics market in the upcoming five years. The students are inclined toward nootropics as these improve cognitive function, such as executive functions, memory, creativity, or motivation. The rising awareness about these drugs is supporting the growth of the global nootropics market in the next five years.
Although the ethical issues regarding the use of nootropics drugs by the healthy individual may put some restraint over the growth of the global nootropics market in future. In the year, 2019 the United States Food and Drug Administration and Federal Trade Commission warned the manufacturers and market players involved in the advertisements, about the probable advertisement fraud and marketing scams related to nootropics substances. The issue of substance abuse is also a major concern regarding the drug, although regulatory sales and prospective warnings are anticipated to support the future growth of the global nootropics market in the future five years of forecast, until 2026.
Nootropics are the drugs, supplements and related components that are expected to work efficiently in increasing and enhancing brain activities like cognitive thinking, executive functioning of the brain, higher memory retention, and creating senses of healthy motivation for the individuals. Patients suffering from mood swings, depression, lack of attention and focus, and sleep disorders are often prescribed nootropics for their recovery. Nootropics are often associated with the term "smart drugs" for their functions and effect on the patients.
The global nootropics market is segmented by type, product type, distribution channel, application, regional distribution, and competitional analysis. Based on type, the market is further bifurcated into prescription and over the counter nootropics drugs. Prescription nootropics are anticipated to hold the largest revenue share of the market and assert their dominance over the market in the upcoming five years on account of rapidly increasing cases of depression, mood swings, anxiety and stress. The patients suffering from such mental health issues are able to control their symptoms these drugs as these help them to facilitate their thoughts. Also, concerned legalities and ethical issues have made it essential for the prescription to be produced to purchase the nootropics thereby supporting the growth of the global nootropics market in the next five years.
Holding the major shares of the global nootropics market are Accelerated Intelligence Inc., AlternaScript LLC, Onnit Labs, Inc., Peak Nootropics LLC, Teva Pharmaceutical Industries Ltd., Purelife bioscience Co., Ltd, SupNootropic bio co., Ltd, Cephalon, Inc., United Pharmacies (UK) Ltd., Nootrobox Inc. (HVMN), among others. Market players are actively involved in the research and product development. The advanced technology has made it possible for the industry to provide excellent services through nootropics drugs. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
- Historical Years: 2016 - 2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022 - 2026
Objective of the Study:
- To analyze the historical growth in the market size of global nootropics market from 2016 to 2020.
- To estimate and forecast the market size of global nootropics market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global nootropics market based on type, product type, distribution channel, application, competitional landscape, and regional distribution.
- To identify dominant region or segment in the global nootropics market.
- To identify drivers and challenges for global nootropics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global nootropics market.
- To identify and analyze the profile of leading players operating in global nootropics market.
- To identify key sustainable strategies adopted by market players in global nootropics market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Nootropics Market
4. Voice of Customer
5. Executive Summary
6. Global Nootropics Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Prescription v/s Over the Counter)
6.2.2. By Product Type (Natural v/s Synthetic)
6.2.3. By Distribution Channel (Online v/s Offline)
6.2.4. By Application (Memory Enhancement, Mood & Depression, Attention & Focus, Longevity & Anti-aging, Sleep & Recovery, Anxiety, Others)
6.2.5. By Region
6.2.6. By Company (2020)
6.3. Product Market Map
7. North America Nootropics Market Outlook
8. Europe Nootropics Market Outlook
9. Asia-Pacific Nootropics Market Outlook
10. South America Nootropics Market Outlook
11. Middle East and Africa Nootropics Market Outlook
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Accelerated Intelligence Inc.
14.2. AlternaScript LLC
14.3. Onnit Labs, Inc.
14.4. Peak Nootropics LLC
14.5. Teva Pharmaceutical Industries Ltd.
14.6. Purelife bioscience Co., Ltd
14.7. SupNootropic bio co., Ltd
14.8. Cephalon, Inc.
14.9. United Pharmacies (UK) Ltd.
14.10. Nootrobox Inc. (HVMN)
15. Strategic Recommendations
16. About Us & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/gqrk6o
