Global Nootropics Market Overview:
Nootropics are a type of smart drugs which are also known as cognition enhancers. They are consumed to enhance the brain functioning, improve the memory, productivity, creativity and attention. Nootropics drugs are said to have effect on brain through dopaminergic pathway and other such mechanisms. Nootropics Drugs are basically classified under 2 categories that are prescribed and Over the Counter. Prescribed Drugs are basically consumed to counter ADHD, Alzheimer or Narcolepsy like disorders and diseases. OTC Nootropics have increasingly become popular among the students to improve the academic performance, via improved memory power and enhanced productivity. Geographically, North America is the major market of Nootropics. Some of the players profiled in the study are Purelife Bioscience Co., Ltd. (China), Cephalon, Inc. (United States), HVMN Inc. (United States), Accelerated Intelligence, Inc. (United Kingdom), AlternaScript (United States), TruBrain (United States), Peak Nootropics (United States), Nootrico (United States), NooCube (Cyprus) and Opti-Nutra Ltd. (United Kingdom).
On the basis of geography, the market of Nootropics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Drug, the sub-segment i.e. Prescription (Modafinil, Adderall, Methylphenidate, Memantine and Others) will boost the Nootropics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online (E-Commerce Stores) will boost the Nootropics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Powder will boost the Nootropics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increase in Patients Suffering from Attention Deficit Hyperactivity Disorder (ADHD)
- Surge in Alzheimer Patients
- Students Using Smart Drug to Enhance Academic Performance
Influencing Trend
- Students Study Drug or Smart Drug is one of the Fastest Growing Segment
Restraints
- There are Several Side Effects Associated with Nootropics
Opportunities
- Nootropics Beverages has huge Prospect to Grow
Challenges
- Presence of Lot of OTC Players in the Market
Key Market Developments:
In 2020, Beverage USA Holdings, LLC, one of the prominent soft drink and packaged juices manufacturer has announced acquisition of Nerd Beverage Corporation. Nerd Beverage has established its name as brain enhancement or nootropics enabled beverages. The acquisition is aimed at increasing Beverage USA’s product portfolio while expanding the reach of Nerd Beverages and maintaining the high loyalty percentage of nerd beverages.
In 2021, BevCanna Enterprises Inc., US based market leaders in cannabinoid-infused beverages has announced acquisition of Naturo Group Investments Inc., which is a Canada based chemical manufacturing and natural ingredients based Bevarage Company. The acquisition will help the two companies complement each other, and combine their synergies to grow.
United States FDA has approved Nootropics as GRAS or Generally Regarded as Safe to consume
Target Audience:
Nootropics Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Nootropics market on the basis of product [
] , application [ADHD, Alzheimer, Narcolepsy, Memory Enhancement, Mood and Depression, Anxiety and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Nootropics market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Nootropics industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Neurohacker Collective, LLC (United States), WOW Skin Science (India) and Himalayan Organics (India).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Nootropics market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.