Nootropics Market to receive overwhelming hike in Revenues by 2024 – Credence Research – MENAFN.COM

MENAFN Press - 15/03/2017 (MENAFN Editorial)

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Market Insights

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 availableinthe 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.Howeverthey 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.

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.

Browse the fullreport Nootropics Market - Growth, FutureProspectsand Competitive Analysis, 20162024 report athttp://www.credenceresearch.com/report/nootropics-market

Blog:http://www.pdfdevices.com/credence-research-industry-analysis-report-for-nootropics-market-2017/

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Nootropics Market to receive overwhelming hike in Revenues by 2024 - Credence Research - MENAFN.COM