The Asia-Pacific market is projected to grow at the highest CAGR of 9.6% during the forecast period, owing to improvement in healthcare infrastructure and rise in expenditures in the emerging markets (such as India and China) to cater to the unmet medical needs.
Most of the college students, professionals, and entrepreneurs are using smart drugs to maximize their mental capabilities. For instance, Piracetam improves memory in seniors experiencing age-related mental decline or dementia. These benefits of smart drugs are expected to propel the market growth for cognitive and memory enhancer drugs.
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Cognitive and Memory Enhancer Drugs Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023 the global market was valued at $3,680 million in 2016, and is projected to reach $6,598 million by 2023, growing at a CAGR of 8.6% from 2017 to 2023. Namenda held more than one-fourth share of the total market in 2016.
Cognitive and Memory Enhancer Drugs Market Leading Players:
The major companies profiled in the report are Pfizer Inc., Eisai Co., Ltd., Allergan, Inc., Novartis AG, Shire, Johnson & Johnson, Takeda Pharmaceutical Company Limited, AlternaScript LLC, Cephalon, Inc. (Teva Pharmaceutical Industries Ltd.), and Ceretropic.
Cognitive and memory enhancers are the drugs or supplements, which help to improve the cognitive functions such as memory, creativity, and others in patients suffering from diseases such as neurological disorders as well as in healthy individuals. The major factors that contribute to the market growth include growth in geriatric population prone to neurological disorders such as Alzheimer. Moreover, rise in adoption of cognitive drugs owing to its benefits such as improved physical and mental performance boosts the market growth. However, the ethical issues related with the use of such drugs restrain the growth of this market.
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Cognitive and Memory Enhancer Drugs Market Segments:
Namenda generated the maximum revenue in the global cognitive and memory enhancer drugs market in 2016, and is expected to dominate the market till 2023. Exelon segment is expected to register the highest CAGR of 10.9% during the forecast period, owing to increase in awareness among people towards improved physical performance.
Disease treatment application segment is expected to dominate the market in the future, owing to increase in the number of patients suffering from neurological diseases such as Alzheimer’s. On the other hand, academic performance segment is estimated to exhibit a CAGR of 10.2% during the forecast period
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global cognitive and memory enhancer drugs market, with current trends and future estimations to elucidate the imminent investment pockets.
- Quantitative analysis from 2016 to 2023 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
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