Credence Research recently published a report on Nootropics drug market. According to the report, the Global Nootropics Market is projected to reach $6,059 at a CAGR of 17.9% during the time frame of 2016 to 2024. In 2015, the global Nootropics market was valued at $1,346. The report researched all Nootropics applications such as Memory Enhancement, Mood and Depression, Attention and Focus, Longevity and Anti-Aging, Sleep, Recovery and Dream Enhancement and Anxiety.
Read the full report on – https://www.credenceresearch.com/report/nootropics-market
Nootropics are also known as cognitive enhancers and natural extracts that improve body functions such as memory, creativity, and motivation. FDA has approved many substances of Nootropics as dietary supplements and classified them as GRAS. Currently, these products are being repackaged, repurposed and sold to academic and professionals to enhance their brain function. Among all the applications of nootropics, memory enhancement substances are holding the largest revenue share and are expected to maintain the lead through the time frame of 2016 to 2024. Russian Nootropics are holding a strong position in the global market to increase the efficiency of the brain.
Geographically, North America is the largest consumer of Nootropics and is holding the biggest place in market share. A large part of the population in North America has a high awareness of preventive and cognitive health. The Asia Pacific is also showing the anticipation in the fast progressing regional market for Nootropics. China and India are popular for making natural and herbal based cognitive drugs. Foreign investment in local products is showing substantial growth in the Nootropics market.