Nootropics Market Expanding Usage Of Supplements And Demand For Cognitive Performance Enhancers To Support The Market Growth
Mr. Chris Smith
According to the latest report published by Credence Research, Inc. “Nootropics Market – Growth, Future Prospects and Competitive Analysis, 2016-2024,” the global nootropics market was valued at USD 1,346.5 Mn in 2015, and is expected to reach USD 6,059.4 Mn by 2024, expanding at a CAGR of 17.9% from 2016 to 2024.
Nootropics, also known as cognitive enhancers are drugs and natural extracts that improve cognitive functions such as memory, creativity, motivation in healthy individuals. Nootropics have been available in the market for several decades and were made of ingredients such as multivitamins and caffeine – substances that the FDA has approved as dietary supplements and classified as GRAS (generally regarded as safe). At present, these products are being repackaged, repurposed and sold to academic and professional overachievers to augment their brain function. Companies operating in this space primarily succeed as lifestyle brands through smart marketing. However, they can only be recognized as healthcare brands only after they develop products that secure regulatory approval thus establishing certified efficacy and safety of their products.
Among the key applications of nootropics, memory enhancement currently holds the largest revenue share and it is anticipated that the segment will maintain its lead through the forecast period 2016-2024. Major factors favoring the demand for memory enhancing nootropics include growing awareness among students and executives about the promised benefits of nootropics, easy accessibility, and the booming market for supplements. The memory enhancing nootropic drugs enhance learning and memory effect, enhance the ability of learned behaviors to resist disruption, enhance the efficiency of your brain functions and protect the brain from chemical injuries. Memory enhancement segment for nootropics was valued at USD 391.6 Mn in 2015.
Geographically, North America is the largest consumer of nootropics and is also characterized by domicile of topmost market players. Large population pool, high awareness in consumer population for preventive and cognitive health, the rise of the self-directed consumer, and channel proliferation are the key factors driving the dominance of North America nootropics market. On the other hand, Asia Pacific is anticipated to be the fastest progressing regional market for nootropics. While in countries like China and India having a great history of natural and herbal based cognitive drugs that boost the brain functions and other body functions, the foreign investment in collaboration with the local players have determined substantial growth in the nootropics market and the overall dietary supplements market.
Nootropics is a relatively new entrant in the supplements market and are featured by the emergence of several new and niche market entrants. Some of the key players in the global nootropics market are Nootrobox Inc., Cephalon Inc., PureLife Bioscience Co. Ltd., Peak Nootropics, Nootrico, SupNootropic Biological Technology Co. Ltd., AlternaScript LLC, Accelerated Intelligence Inc., Onnit Labs LLC, Powder City LLC, Ceretropics, Nootropic Source, Clarity Nootropics and several others.
The main concern with pharmaceutical drugs is adverse effects, and these concerns apply to cognitive-enhancing drugs as well. Long-term safety data is typically unavailable for some types of nootropics (e.g., many non-pharmaceutical cognitive enhancers, newly developed pharmaceuticals and pharmaceuticals with short-term therapeutic use). Racetams—piracetam and other compounds that are structurally related to piracetam—have few serious adverse effects and low toxicity, but there is little evidence that they enhance cognition in individuals without cognitive impairments.
While addiction to stimulants is sometimes identified as a cause for concern, a very large body of research on the therapeutic use of the “more addictive” psychostimulants indicate that addiction is fairly rare in therapeutic doses. On their safety profile, a systematic review from June 2015 asserted, “evidence indicates that at low, clinically relevant doses, psychostimulants are devoid of the behavioral and neurochemical actions that define this class of drugs and instead act largely as cognitive enhancers.”
In the United States dietary supplements may be marketed if the manufacturer can show that it can manufacture the supplement safely, that the supplement is indeed generally recognized as safe, and if the manufacturer does not make any claims about the supplement’s used to treat or prevent any disease or condition; supplements that contain drugs or for which treatment or prevention claims are made are illegal under US law.
Central nervous system stimulants
See also: Yerkes–Dodson law
The hebbian version of the Yerkes–Dodson law
In 2015, systematic medical reviews and meta-analyses of clinical research in humans established consensus that certain central nervous system stimulants, only when used at low (therapeutic) concentrations, unambiguously enhance cognition in the general population; in particular, the classes of stimulants that demonstrate cognition-enhancing effects in humans act as direct agonists or indirect agonists of dopamine receptor D1, adrenoceptor A2, or both receptors in the prefrontal cortex. Relatively high doses of stimulants cause cognitive deficits.
Amphetamine (e.g., dextroamphetamine (enantiopure drug), lisdexamfetamine [an inactive prodrug]), methamphetamine (a substituted amphetamine) – systematic reviews and meta-analyses report that amphetamine benefits a range of cognitive functions (e.g., inhibitory control, episodic memory, working memory, and aspects of attention) in the general population, and these effects are especially notable in individuals with ADHD. A systematic review from 2014 noted that low doses of amphetamine also improve memory consolidation, in turn leading to the improved recall of information in non-ADHD youth. It also improves task saliency (motivation to perform a task) and performance on tedious tasks that require a high degree of effort.
Methylphenidate – a Benzylpiperidine that improves a range of cognitive functions (e.g., working memory, episodic memory, and inhibitory control, aspects of attention, and planning latency) in the general population. It also improves task saliency and performance on tedious tasks that require a high degree of effort. At above optimal doses, methylphenidate has off-target effects that can decrease learning by activating neurons not involved in the task at hand.
Eugeroics (armodafinil and modafinil) – wakefulness promoting agents; modafinil increases alertness, particularly in sleep-deprived individuals, and was noted to facilitate reasoning and problem-solving in a systematic review. They are clinically prescribed for narcolepsy, shift work sleep disorder, and daytime sleepiness remaining after sleep apnea treatments.
Xanthines (most notably, caffeine) – shown to increase alertness, performance, and, in some studies, memory. Children and adults who consume low doses of caffeine showed increased alertness, yet a higher dose was needed to improve performance.
Nicotine – A meta-analysis of 41 double-blind, placebo-controlled studies concluded that nicotine or smoking had significant positive effects on aspects of fine motor abilities, alerting and orienting attention, and episodic and working memory. A 2015 review noted that stimulation of the α4β2 nicotinic receptor is responsible for certain improvements in attentional performance; among the nicotinic receptor subtypes, nicotine has the highest binding affinity at the α4β2 receptor (ki=1 nM), which is also the biological target that mediates nicotine’s addictive properties.
Source – WIKIPEDIA
Table of Content
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
Chapter 2 Executive Summary
2.1 Global Nootropics Market Portraiture
2.2 Global Nootropics Market, by Type of Application, 2015 (USD mn)
2.3 Global Nootropics Market Share, by Geography, 2015 (Value %)
Chapter 3 Nootropics Market Analysis
3.1 Global Nootropics Market Overview
3.2 Top 30 Drug Profiles
3.2.2 Phenylpiracetam (Phenotropil)
3.2.10 Magnesium Citrate
3.2.11 Alpha- GPC
3.2.15 Bacopa Monnieri
3.2.17 Rhodiola Rosea
3.2.19 Phenylethylamine (PEA)
3.2.20 Alpha-Lipoic Acid (ALA)
3.2.21 Uridine Monophosphate
3.2.26 Acetyl L-Carnitine
3.2.27 Huperzine A
3.2.30 Ginkgo Biloba
3.3 Market Dynamics
3.3.1 Market Drivers
22.214.171.124 Booming Supplements Industry
126.96.36.199 Sales Channel Proliferation
188.8.131.52 Increase in Regulatory Pressures
184.108.40.206 Growth of E-commerce
3.4 Attractive Investment Proposition
3.5 Competitive Landscape of Key Players in Nootropics Market
Nootropics, or smart drugs comprise compounds that enhance brain function. These drugs are becoming increasingly popular in the developed world to give the mind an extra boost. Several nootropics claim promising benefits such as focus, motivation and boosting memory and there is research in place to support their specific claims. Yet, a majority of effective nootropics are not intended for use without prescription to treat a specific condition; moreover, recreational use of nootropics is highly debated among physicians and researchers. Among the application types, nootropics find the widest application in memory enhancement.
In the base 2015, North America was observed as the largest market for nootropic drugs. The rising population increased consumer awareness for preventive and cognitive healthcare, the rise of the self-directed consumer, and channel proliferation is the factors that drive the nootropics market in North America. Europe accounted for the second largest market for nootropic drugs. The market is driven by the substantial increase in the demand for cognitive healthcare products among the youths in the region. The Asia Pacific is anticipated to the fastest growing nootropic market.
Browse the full report Nootropics Market – Growth, Future Prospects, and Competitive Analysis, 2016–2024 at http://www.credenceresearch.com/report/nootropics-market