Research Study Shows Explosive Growth For Nootropics Market

A lot of people have asked if nootropics are a fad, if the craze is going to slow down as people get tired of ingesting chemicals with limited research and on wasting money on trying a number of supplements that may not have noticeable effects. A December 2016 research study by Credence Research says that there are no signs of a slowdown of the nootropics market, in fact they expect a nearly 18% annual growth of the market from 2016-2024.

The market for nootropics in 2015 was 1.34 billion dollars and is estimated to reach over 6 billion by 2024 which is an explosive growth for a relatively niche market becoming mainstream. The United States is and is expected to be by far the biggest market for nootropics, and the largest companies are generally U.S. based.

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 to their products. [1]

The report lists the top 30 drugs by market volume as:

  1. Adrafinil
  2. Phenylpiracetam (Phenotropil)
  3. Noopept
  4. Sulbutiamine
  5. Pramiracetam
  6. Sunifiram
  7. Piracetam
  8. Oxiracetam
  9. Aniracetam
  10. Magnesium Citrate
  11. Alpha-GPC
  12. CDP-choline (Citicoline)
  13. Gynostemma
  14. Ashwagandha
  15. Bacopa Monnieri
  16. Phenibut
  17. Rhodila Rosea (Rhodiola Rosea)
  18. Galantamine
  19. Phenylethylamine (PEA)
  20. Alpha-Lipoic Acid (ALA)
  21. Uridine Monophosphate
  22. Centrophenoxine
  23. L-Dopa
  24. N-Acetyl-Cysteine
  25. L-theanine
  26. Acetyl L-Cartinine
  27. Huperzine A
  28. Picamilon
  29. Vinpocetine
  30. Ginkgo Biloba

The market by application:

nootropics market by application
Image Source

As expected, memory enhancement is by far the number one reason that people seek out nootropics with mood and depression coming in second.

Overall, this is a very exciting time to be interested in nootropics. With a rapidly increasing market and public interest, more options will be available as companies develop products to satisfy a market that is hungry for more. This market also includes a large number of the prime market demographic of ages 18-34, with a majority of nootropics users either being college students or young, white collar professionals. With increased interest may also come increased scrutiny for both good and bad. Hopefully more safety information and research studies   will be performed on promising compounds, but the risk of the FDA and online marketplaces cracking down on nootropics will remain a major risk. A number of supplements are already banned from Amazon and eBay and this practice will also continue even as the market expands.

The following two tabs change content below.
Working on a better brain for all of us, or die trying. We've been using nootropics for years and have set up this website to help others on their journey for better brain function, memory improvement, energy level increases, fatigue reduction, mood improvement, and more.

References   [ + ]

One Comment

Add a Comment

Your email address will not be published. Required fields are marked *

CommentLuv badge