Nootropics Market to Reach USD 5.32 Billion By 2027 at CAGR of 13.2% | United Pharmacies, SupNootropic bio co, Ltd, etc
: New York, United States, 21th-July-2020, (Via WiredRelease), (Reports and Data) – According to the current analysis of Reports and Data, the global Nootropics Market was valued at USD 1.96 billion in 2019 and is expected to reach USD 5.32 billion by the year 2027, at a CAGR of 13.2%. Nootropics are compounds that enhance the cognitive performance of an individual. These substance, also known as smart drugs, are a class of ingredients which can boost the memory, enhance creativity levels, decision making capabilities and improve brain performance.
Nootropics medication are of two types, prescription and nonprescription. Prescription medication gives stimulant effects, counteracting the symptoms of medical conditions such as attention deficit hyperactivity disorder (ADHD), Alzheimer’s disease, or narcolepsy while nonprescription medications are used to boost mental performance due to their cholinergic mechanisms.
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Our team of experts has conducted extensive studies on the Nootropics market, including a competitive analysis highlighting the key players.
In market segmentation by manufacturers, the report covers the following companies-: Accelerated Intelligence Inc., AlternaScript; HVMN, Onnit Labs, Inc., Peak Nootropics, Teva Pharmaceutical Industries, Purelife bioscience Co., Ltd., United Pharmacies, SupNootropic bio co., Ltd., and Powder City.
For the purpose of this report, Reports and Data has segmented the Nootropics market on the basis of drugs type, application, distribution channel and region:
Drug Type Outlook (Revenue in Million USD; 2016–2026)
Application Outlook (Revenue in Million USD; 2016–2026)
Mood & Depression
Attention & Focus
Longevity & Anti-aging
Sleep & Recovery
Distribution Channel Outlook (Revenue in Million USD; 2016–2026)
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Regional Outlook (Revenue in Million USD; 2016–2026)
Middle East & Africa
Further key findings from the report suggest:
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.
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The Nootropics Market Research/Analysis Report addresses the following questions:
Which Manufacturing Technologies are prevalent in the production of Nootropics Market? What are the Recent Developments relating to that technology? Which Trends are responsible for these developments?
Who are the leading vendors in the Global Nootropics Market? What are their individual market standing and contact information?
What is the current industrial scenario of the Global Nootropics Market? What were the Value, Volume, Production Capacity, Cost, and Profit Margin of the overall market?
What is the outcome of the value chain analysis of the Nootropics Market in terms of upstream and downstream industries?
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