Global Nootropics Market Will Reach USD 5,959 Million By 2024: Zion Market ReseaPosted by freemexy on August 8th, 2019 Zion Market Research has published a new report titled “Nootropics Market By Application (Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and Anti-Aging, Sleep, Recovery, and Dream Enhancement, and Anxiety): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global nootropics market was valued at around USD 1,324 million in 2017 and is expected to reach approximately USD 5,959 million by 2024, at a CAGR of around 15.7% between 2018 and 2024.Best Nootropic Powder Nootropics are also known as cognitive enhancers or smart drugs. These include supplements, drugs, and other related substances that can advance cognitive function, mainly executive functions, motivation, creativity, memory, or attention in healthy individuals. Nootropics can be synthetic or natural substances that are preferred widely to enhance an individual’s mental performance. Caffeine, L-Theanine, Creatine, Bacopa Monnieri, and Rhodiola Rosea are some of the popularly used nootropics. By application, the global nootropics market is classified into mood and depression, memory enhancement, attention and focus, anti-aging and longevity, sleep, recovery and dream enhancement, and anxiety. The memory enhancement is the held a considerable share in terms of revenue in the year 2017, due to a rapidly evolving working environment and the education system that gradually involves workload and mental and physical pressure to succeed. Moreover, the increasing aging population is at risk of suffering from dementia. The attention and focus and mood and depression are other applications. The increasing trend of cognitive enhancement among healthy individuals for professional advantage, personal improvement, academic success, athletic performance, and to sustain brain activities during old age is estimated to boost the demand for nootropic products over the projected timeline. The European nootropics market is likely to exhibit a considerable revenue share in the upcoming years. France, Germany, and Italy are major regional contributors, due to an increased number of new product launches. Additionally, the growing geriatric population base and rising healthcare costs across Europe are estimated to support this regional market over the estimated time period. The Latin American market is predicted to record a stable growth rate over the forecast time period. The increasing number of consumers with a high disposable income coupled with huge spending on healthcare and wellness is estimated to boost the demand for nootropics products in the region within the estimated timeline. Like it? Share it!More by this author |