Cognitive and Memory Enhancer Drugs Market Opportunity Assessment and Forecast

Posted by sanjayhande on December 9th, 2019

Increased geriatric population, rise in patients suffering from neurodegenerative disorders, and surge in awareness about the use of smart drugs are expected to propel the growth in the global cognitive and memory enhancer drugs market  

Allied Market Research recently published a report, titled, "Cognitive and Memory Enhancer Drugs Market by Product (Aricept, Razadyne, Namenda, Exelon, Provigil, Ritalin, and Adderall) and Application (Disease Treatment, Academic Performance, and Athletic Performance): Global Opportunity Analysis and Industry Forecast, 2017-2023". The research offers a comprehensive analysis of the industry dynamics, top investment pockets, key strategic moves, major market segments, and competitive landscape. According to the report, the global cognitive and memory enhancer drugs market accounted for .02 billion in 2017, and is expected to reach .59 billion by 2023, registering a CAGR of 8.6% from 2017 to 2023.

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High percentage of aging population that is prone to neurological disorders, increase in neurodegenerative disorders, and surge in awareness regarding benefits of smart drugs including improved physical and mental performance have boosted the growth in the global cognitive and memory enhancer drugs market. However, ethical issues related to the consumption of such drugs hamper the market growth. On the contrary, effective strength of the drugs is expected to create lucrative opportunities for the market players in the near future.

Namenda governs the industry:
The Namenda held the largest share in 2017, contributing about one-fourth of the total market, as it is the first drug approved for Alzheimer's and dementia by the FDA and helps in slowing down the disease progression. However, the Exelon is estimated to register the fastest CAGR of 10.9% during the forecast period, as it is mainly recommended for patients with lower levels of chemicals such as glutamate that regulates the functioning of the nerve cells in the brain. Moreover, Exelon has fewer side effects as compared to other drugs. The report also analyzes products such as Aricept, Razadyne, Provigil, Ritalin, Adderall, and such others.

Academic performance segment to manifest fastest growth by 2023:
The academic performance segment is projected to register the fastest CAGR of 10.2% during the forecast period, owing to benefits provided by these drugs to students in terms of improvement of concentration, memory, and performance. However, the disease treatment held the largest share in 2017, contributing nearly three-fourths of the total market revenue, owing to increase in prevalence of Asthma, Parkinson's, and Alzheimer's disease. The study also explores athletic performance and other such applications.

Asia-Pacific to register highest CAGR through 2023:

Asia-Pacific region is expected to register the fastest CAGR of 9.6% during the forecast period, owing to rise in geriatric population and high prevalence of cognitive diseases, especially in affluent countries of the region. However, North America dominated the market in terms of revenue in 2017, contributing more than one-third of the market share, owing to rise in patients suffering from Alzheimer's disease and increase in healthcare expenditure due to long term care for these patients. Moreover, cognitive and memory enhancer drugs have gained popularity among college students to improve memory, focus, and mental energy. The other regions such as Europe and Latin America, Middle East and Africa (LAMEA) are analyzed in the report.

Major market players

  • Pfizer Inc.
  • Allergan, Inc.
  • Shire
  • Takeda Pharmaceutical Company Limited
  • Cephalon, Inc. (Teva Pharmaceutical Industries Ltd.)
  • Eisai Co., Ltd.
  • Novartis AG
  • Johnson & Johnson
  • AlternaScript LLC
  • Ceretropic.

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Joined: October 17th, 2019
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