Transparency Market Research opens a discussion about the global nootropic products market with its new research report. The analysts list the factors that are likely to drive the growth of this market along with the ones hampering it. The research report, titled “Nootropic Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024,” provides a comprehensive overview of the global market. The research report studies the historical developments about the market and how it has evolved to change perceptions about improving memory, alertness of the mind, cognitive abilities, and attention span. It also provides an examination of the market situation and maps the trajectory this market will take in the near future.

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Nootropic products are also known as cognitive enhancers and brain boosters as they have a positive effect on the brain performance. The high prevalence of mental fatigue and depression are the two key factors contributing towards rising uptake of nootropic products amongst the youth all over the world. Despite the questionable efficiency of these drugs, several are using it to deal with mental health. The only approved drug is Modafinil, which is available with a prescription. The other variants that are acquired and consumed as supplements without prescription are Piracetam, CDPCholine, and sulbutiamine or pyritinol. The products available in the market are Pramiracetam, Phenylpiracetam, Noopept, Adrafinil, and Aniracetam. Presently, Noopept is considered as a supplement and is consumed for better reflexes, improved thinking, logical reasoning, controlled anxiety and enhancement of mood.

The growing investment in the research of these medicines and supplements to determine their effectiveness on the user is anticipated to boost the growth of this market across the globe in the near future. Furthermore, development of nootropic products with natural as well as synthetic extracts to treat Alzheimer’s, dementia, and ADHD or Attention Deficit Hyperactivity Disorder, and Parkinson’s disease is also expected boost the overall market in the coming few years.

Some of the leading players operating in the global nootropic products market are United Pharmacies (UK), Purelife Bioscience Co., Ltd, and Cephalon, Inc. The research report profiles these players and provides a thorough understanding of the competitive landscape of the global market. The report includes an assessment of the intensity of the competition, the threat to the new entrants, and bargaining power of buyers and suppliers through a Porter’s five forces analysis. The document also offers a detailed explanation of the business and marketing strategies these companies are likely to adopt along with their plan to expand in the near future.