Global Cognitive and Memory Enhancer Drugs Market – Industry Trends and Forecast to 2029

 Cognitive and Memory Enhancer Drugs Market Analysis and Size

Cognition is the mental process of acquiring knowledge and comprehension through experiences, senses, or thoughts. The use of drugs and other techniques to improve cognition is not new. Caffeine has been used as a stimulant for over a thousand years and is frequently consumed in extremely high doses. (For instance, Starbucks' popularity may be due to the fact that a 16-ounce serving of its coffee contains 550 milligrams of caffeine, which is five times the amount found in a regular cup of coffee or a single no doze tablet.

Data Bridge Market Research analyses that the cognitive and memory enhancer drugs market which was USD 6 million in 2021, is expected to reach USD 10.39 million by 2029, at a CAGR of 7.10% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Cognitive and Memory Enhancer Drugs Market Scope and Segmentation  

Market Definition

Cognitive and memory enhancer drugs or external supplements are designed to improve an individual's cognitive capacity, which includes executive functions such as creativity, motivation, attention, and memory. These medications are prescribed to patients who are having difficulty maintaining optimal cognitive function. Patients suffering from mental illnesses such as Alzheimer's, Schizophrenia, paranoia, and ADD are given these drugs to help them cope with the symptoms of the disorder. Nootropics, also known as "cognitive enhancers," are drugs that some people use to improve memory, increase mental alertness and concentration and increase energy levels and wakefulness. There are numerous nootropics.

Global Cognitive and Memory Enhancer Drugs Market Dynamics

Drivers

• Rising prevalence of neurological disorders

As the prevalence of neurological disorders such as dementia, Alzheimer's, and Parkinson's disease rises, so the need for a reliable treatment. As a result, people suffering from these disorders are among the most common recipients of cognitive and memory enhancing drugs. This factor drives market growth. Around 50 million people worldwide suffer from dementia, with nearly 10 million new cases diagnosed each year. Aside from that, cognitive drugs are used in academics and athletics. In addition, ongoing clinical trials for the development of potential drugs contribute to market expansion.

• Increase in the geriatric population base

Geriatric refers to a population whose health is deteriorating due to old age. One of the potential growth drivers for the global market is an increase in the number of geriatric patients. According to a WHO report, approximately 46 million people worldwide suffer from dementia, a memory disorder. The number of elderly people suffering from Alzheimer's disease has grown over time. In addition, neurological disorders have been on the rise. These factors will eventually propel the global market for cognitive and memory enhancer drugs forward.

Opportunities

• Increase in medical facilities in the developing economies

More patients will have access to the care they require as the number of medical facilities that provide cognitive and memory enhancer drugs grows. The easy availability of necessary supplements can pave the way for the global market to expand.

Restraints/Challenges

• High cost of production of drugs and supplements

Medicinal drugs are expensive in many countries and require significant investment to manufacture. This puts cognitive and memory enhancer drugs' global reach in jeopardy. Keeping track of expenses and keeping them under control is a difficult task in today's global market. Also, the high cost of drug research and development activities, as well as legal and ethical issues, will limit the growth of the cognitive and memory enhancer drugs market, whereas the high cost of cognitive and memory enhancer drugs treatment may pose a challenge to the market's growth.

This cognitive and memory enhancer drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cognitive and memory enhancer drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Cognitive and Memory Enhancer Drugs Market

The overall impact of COVID-19 on the market is negative, owing to a decrease in the number of visits to hospitals and clinics for the treatment of neurodegenerative disorders, and these drugs are primarily used in the treatment of neurodegenerative disorders, resulting in a decrease in demand for cognitive and enhancer drugs. However, with ongoing vaccinations and decreasing COVID-19 cases, the market is expected to regain its full potential in the near future.

Recent developments

• In September 2021, a Bristol-led study identified specific drug targets in the neural circuits that encode memories, paving the way for significant advances in treating a wide range of brain disorders.
• In April 2022, A first-in-class oral compound targeting NMDA (N-methyl-D-aspartate) receptors was found to be useful in a mid-stage clinical trial for Alzheimer's disease, laying the groundwork for a full efficacy and safety study. SAGE-718, a PAM (positive allosteric modulator) of NMDA receptor activity, improved mean scores on five standard memory tests in twenty-six Alzheimer's patients with mild cognitive deficits.

Global Cognitive and Memory Enhancer Drugs Market Scope

The cognitive and memory enhancer drugs market is segmented on the basis of drug type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drug Type

• Namenda
• Provigil
• Aricept
• Razadyne
• Exelon
• Adderall
• Ritalin
• Others

Application

• Disease Treatment
• Athletic Performance
• Academic Performance
• Others

Cognitive and Memory Enhancer Drugs Market Regional Analysis/Insights

The cognitive and memory enhancer drugs market is analysed and market size insights and trends are provided by country, drug type and application as referenced above.

The countries covered in the cognitive and memory enhancer drugs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the cognitive and memory enhancer drugs market owing to the increase in patients suffering from Alzheimer's disease and rise in healthcare expenditure due to long term care for these patients within the region.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 because of the rapid increase in geriatric population and increasing prevalence of cognitive diseases, particularly in affluent countries within this particular region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The cognitive and memory enhancer drugs market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cognitive and memory enhancer drugs market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cognitive and memory enhancer drugs market. The data is available for historic period 2010-2020.

Competitive Landscape and Cognitive and Memory Enhancer Drugs Market Share Analysis

The cognitive and memory enhancer drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cognitive and memory enhancer drugs market.

Some of the major players operating in the cognitive and memory enhancer drugs market are:

• AlternaScript (U.S.)
• Cipla Inc. (India)
• Pfizer Inc. (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• Novartis AG (Germany)
• Eisai Co., Ltd. (Japan)
• Allergan (Ireland)
• Merz Pharma (Germany)
• AbbVie Inc. (U.S.)
• Dr. Reddy’s Laboratories Ltd. (India)
• Bayer AG (Germany)
• Shodhana Laboratories Private Limited (India)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sanofi (France)
• Shire (U.S.)
• Ceretropic (U.S.)
• Takeda Pharmaceutical Company Limited (Japan)
• Torrent Pharmaceuticals Ltd. (India)

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