Nootropics Market Outlook
According to a new report by Expert Market Research titled, “Nootropics Market Size, Share, Trends, Report and Forecast 2023-2028″, the global nootropics market size is projected to grow at a CAGR of 14.6% between 2023 and 2028. Aided by the rising demand for cognitive enhancing supplements and the widening applications of nootropics in various industries, the market is expected to grow significantly by 2028.
Nootropics, often known as smart drugs or cognitive enhancers, are prescription medications that boost brain function. They are regularly included in a range of products, including medicines, drinks, and dietary supplements. Nootropics are powerful drugs that enhance brain function in several ways, including memory, creativity, motivation, and others. Thus, nootropics are a potential component in a range of commercial applications, including medicines and healthcare, due to their excellent neuroprotective properties in addition to their cognitive-enhancing ones.
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The global nootropics market expansion is being driven by consumers’ increasing interest in cognitive-enhancing products. The demand for nootropic-based products has increased as a result of a considerable shift towards supplements that improve cognitive performance due to growing knowledge of the advantages of maintaining brain health. Nootropics have become increasingly popular due to the development in competitive workplaces and academic environments since these individuals are frequently used by professionals and students looking to improve their cognitive abilities.
The global nootropics market is growing rapidly due to the increased usage of nootropics in numerous industries. Nootropics are utilised in the pharmaceutical industry to treat diseases like Alzheimer’s, Parkinson’s, and ADHD. Nootropics are also used in the fitness sector because they can increase motivation and mental toughness, both of which are crucial for reaching fitness goals.
Additionally, more attention is being paid to nootropics as a significant component of customised dietary supplements due to the growing trend of personalised nutrition and well-being. Nootropics have become a key ingredient in the creation of customised dietary supplements due to the increase of individualised and precision nutrition as well as the rising popularity of self-directed wellness, which is driving the global nootropics market growth.
Nootropics Market Segmentation
The market can be divided based on type, indications, dosage form, route of administration, end user, distribution channel, and region.
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Market Breakup by Type
- Over the Counter
- L-theanine
- Creatine
- Phenotropil
- Others
- Prescription
- Ritalin
- Adderall
- Provigil
- Piracetam
- Others
Market Breakup by Indications
- Productivity and Study
- Socialising
- Exercise and Health
- Wellbeing
- Others
Market Breakup by Dosage Form
- Tablets
- Capsules
- Injections
- Others
Market Breakup by Route of Administration
- Oral
- Parenteral
- Others
Market Breakup by End User
- Hospitals
- Speciality Clinics
- Homecare
- Others
Market Breakup by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global nootropics companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Pfizer Inc.
- GlaxoSmithKline plc
- Novartis AG
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- AstraZeneca
- Johnson & Johnson Private Limited
- Cephalon A/S
- Reckitt Benckiser Group PLC
- Onnit Labs, Inc.
- Mental Mojo, LLC
- Noocube
- Opti-Nutra Ltd.
- TruBrain
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