Nootropic Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024

Nootropic Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024

  • Transparency Market Research
  • Ongoing
  • Pharmaceutical

Report Description

Nootropic Products Market: Overview

The term Nootropic is derived from Greek word noos and tropein which means mind and towards respectively. In general Nootropic products are natural and synthetic compounds that can enhance memory, alertness, attention and other cognitive abilities. Nootropic products are alternatively coined as cognitive enhancers and brain boosters for their ability to produce positive effects on brain performances. Nootropic products are gaining a lot of acceptance in recent years as mood enhancers due to growing prevalence of depression and mental fatigue among youths across the globe.

Nootropic Products Market: Trends and Developments

Nootropic products are a newly emerging category of supplements called as smart drugs aimed at enhancing brain functions and performances. Many students and researches are not only experimenting on the efficacy of the drugs and its probable side effects but are also using some of the approved products such as Modafinil which by 2013 is unfortunately the only available product by prescription. However, there are varieties of other products which can be obtained as supplements without any prescription. These include CDPCholine, Piracetam and either pyritinol or sulbutiamine just to begin with.  

Some of the other commonly and widely used nootropic products in 2014 encompass Noopept, Pramiracetam, Modafinil, Adrafinil, Aniracetam and Phenylpiracetam among others. Noopept is one of the long considered supplements primarily used to gain number of effective benefits related to synaptic plasticity. Other benefits of Noopept include improved reflexes, mood enhancer, improved logical thinking and controlled anxiety level. This supplement works by stimulating NDMA and APMA receptor sites within the brain that improve the activity of neurotransmitters such as Dopamine, Serotonin and Glutamate among others.

Modafinil on the other hand by now the strongest nootropic and must be used with caution. Though it was originally developed for clinical trials for narcolepsy and other sleep defects but has gain acceptance in sleep apnea treatment and professionals such as doctors, nurses and call center employees to gain mental alertness and active neural responses and as mentioned above it is a prescription only drug and cannot be availed over the counter in many parts of the world.

For people in regions such as the United States where Modafinil cannot be availed directly, Adrafinil is the strongest alternative as it is converted into Modafinil in liver and is legal to purchase. It is generally advised to use Adrafinil either on a cycle or occasional basis to avoid tolerance build-up. A survey by the University of Cambridge paper, found that 10 per cent of students take Modafinil or other similar drugs to improve their ability to concentrate during exams.

Nootropic Products Market: Drivers and Trends

Some of the prominent drivers for these medicines or supplements in forthcoming years include intensive research with various natural as well as synthetic Nootropic products for curing diseases such as Alzheimer’s, dementia, attention deficit hyperactivity disorder, Parkinson’s diseases and even age-related cognitive disorders. With increasing population of depression, mood and emotional disorders across globe will positively enhance the acceptance and upliftment of nootropic products in near future.

The lack of proper treatment and hesitation to visit neurologist or psychiatrist in emerging and other developing nations are major concern and restraints to this market. Lack of awareness and product knowledge as supplements is affecting the present market by a significantly. Collaboration with government organizations and other corporate and nonprofit agencies for creating awareness and treatment centers for diseases or other memory related and mental alertness issues will create a lucrative opportunities for existing and new nootropic products market.

Some of the key players in the global Nootropic products market include Cephalon, Inc., United Pharmacies (UK), Purelife Bioscience Co., Ltd among others.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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