Nootropics Market To Register 12.5% CAGR By 2025 Owing To Rising Awareness Regarding Mental Illness, Growing Expenditure On Healthcare & Wellness | Million Insights
FELTON, Calif., March 16, 2021 /PRNewswire/ -- The global Nootropics Market size is projected to touch USD 4.94 billion by 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 12.5% through the forecast period of 2019 to 2025.
What are the Key Factors Driving the Nootropics Market?
Increasing expenditure on healthcare and wellness is expected to proliferate the demand. Additionally, increasing awareness regarding mental illness amongst millennials in emerging economies like India and China is anticipated to propel the product demand.
Memory enhancement application segment dominated the market in 2018 and is anticipated to continue dominating in the forecast period. Rising consumption of smart drugs amongst students to improvise their memory power and perform well in academics is expected to have a positive impact on the market growth. Some of the memory enhancement drugs are Modafinil, Adrafinil, Noopept, Phosphatidylserine and Phenylalanine. A considerable population belonging to the elderly age group and suffering from mild Alzheimer's disease are also prescribed with these nootropics drugs. People having dementia also consume these drugs to overcome their impairment in memory and thinking.
Asia Pacific is anticipated to grow at the fastest CAGR of 18.8% over the forecast period. Rapid development of the professional, sports and academic industries is expected to propel the product demand. Increasing number of people suffering from Alzheimer's disease in emerging countries is anticipated to broaden the demand for nootropics drugs over the coming years.
Continuous innovation of products is one of the key expansion strategies for various companies. Increasing demand for natural ingredients in these products is motivating producers to invest immensely in R&D of natural nootropics and to broaden their product line.
Please click here to get the sample pdf and find more details on "Nootropics Market" Report 2025.
Key Questions Answered in The Report:
How Big is the Nootropics Market?
The global nootropics market size was accounted for USD 2.17 billion in 2018 and is projected to touch USD 4.94 billion at 12.5% CAGR by 2025.
Which Region Dominated the Market?
North America dominated the market with above 37% of share in the total revenue in 2018. Rising consumer awareness regarding mental health and the presence of a large number of manufacturers are anticipated to positively impact the market growth.
Which Region is Expected to Grow at Fastest Pace By 2025?
Asia Pacific is anticipated to grow at the fastest CAGR of 18.8% over the forecast period owing to burdening lifestyle and unhealthy diet patterns amongst the working population in growing economies is anticipated to propel the demand for nootropics drugs.
Which Segment Dominate the Market?
Memory enhancement application segment dominated the market with more than 30% share in 2018 due to increase in consumption of nootropics products amongst students.
What is the Growth Rate of the Online Distribution Channel of Nootropics Market?
Online distribution channel is anticipated to grow at the fastest CAGR of 14.2% over the forecast period. The convenience of shopping offered by Amazon and other online channels is anticipated to propel the demand of this segment. Ease of paying online that fits into the regulatory standards of various countries have made the operations easier for the online segment.
Who are the Key Players Operating in the Market?
Key players functioning in the nootropics market include AlternaScript; Accelerated Intelligence Inc.; HVMN; Peak Nootropics; Onnit Labs, Inc.; Teva Pharmaceutical Industries; United Pharmacies; Purelife bioscience Co., Ltd.; Powder City and SupNootropic bio co., Ltd.
Browse 80 page research report with TOC on "Global Nootropics Market" at: https://www.millioninsights.com/industry-reports/global-nootropics-market
Million Insights has segmented the global nootropics market on the basis of application, distribution channel and region:
- Nootropics Application Outlook (Revenue, USD Million, 2015 - 2025)
- Memory Enhancement
- Mood & Depression
- Attention & Focus
- Longevity & Anti-aging
- Sleep & Recovery
- Anxiety
- Nootropics Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
- Nootropics Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
Explore the Latest Press Releases by Million Insights:
- Pre-engineered Building Market - The global pre-engineered building market size is projected to reach USD 30.79 billion by 2025 with a CAGR of 15.5%. Rising technological developments in the construction industry and growing urbanization & industrialization in the developing economies such as China, Brazil and India are expected to drive the demand for the market.
- Plant Genotyping Equipment Market - The global plant genotyping equipment market size is anticipated to value USD 895.45 million until 2025. It is also expected to register a CAGR of 9.6% over the forecasted years, 2018 to 2025. The increasing need for identifying, assessing and validating genetic markers of plants to gain higher yield from them is driving the market growth for plant genotyping equipment's.
- C-RAN Market - The global C-RAN market size is estimated to account for USD 43.35 billion by 2027. It is estimated that the market would exhibit 22.7% CAGR from 2020 to 2027. Rapidly increasing wireless and optical communication systems are driving market growth. In addition, factors such as low energy consumption, reduced infrastructure cost and simplification of operation and network management are attributing to the growth of the market.
- Insurance Fraud Detection Market - The global insurance fraud detection market size is estimated to account for USD 9.7 billion by 2025. The market is projected to grow at 13.7% CAGR. Over the past few years, insurance fraud has emerged as a huge challenge for insurers. The rise in the number of fraudulent claims has resulted in a growing focus on the deployment of advance and effective detection solution.
About Million Insights:
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Contact:
Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter
SOURCE Million Insights
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article