New York, NY, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cognitive and Memory Enhancer Drugs Market by Drug Type (Aricept, Razadyne, Namenda, Exelon, Provigil, Ritalin, Adderall, and others) and Application (Disease Treatment, Academic Performance, Athletic Performance and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 –2024”. According to the report, global cognitive and memory enhancer drugs market was valued at approximately USD 3.98 billion in 2017 and is expected to reach around USD 6.98 billion by 2024, growing at a CAGR of 8.7 % between 2018 and 2024.

Smart drugs and cognitive enhancers are drug substances that improve cognitive function, memory, and creativity in healthy individuals. Cognitive and memory enhancer drugs have majorly gained popularity in today’s competitive society and are used to boost memory, focus, creativity, and motivation. Cognitive and memory enhancers are widely used to treat patients suffering from mental disorders such as depression and psychosis along with neurological diseases such as Alzheimer's disease, schizophrenia, etc. 

Browse through 29 Tables & 12 Figures spread over 110 Pages and in-depth TOC on “Global Cognitive and Memory Enhancer Drugs Market 2018: Industry Size, Share, Trends and Forecast to 2024”.

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Major factors that contribute to the cognitive and memory enhancer drugs market growth include the prevalence of neurological disorders and geriatric population. Currently, more than 46 million people live with dementia globally. This number is expected to increase to 131.5 million by 2040-50. Moreover, large-scale adoption of cognitive and memory enhancer drugs, owing to their benefits such as improved physical and mental performance is boosting the market growth. However, high capital requirements for drug production and ethical & legal safety contradictions regarding cognitive drugs are restraining the growth of global cognitive and memory enhancer drugs systems market. On the other hand, opportunities from the untapped market and ongoing clinical trials, potential drugs under pipeline are expected to foster the global cognitive and memory enhancer drugs market growth in the forecast period.

By the drug type, the global cognitive and memory enhancer drugs market is divided into Aricept, Namenda, Provigil, Ritalin, Razadyne, Adderall, Exelon, and others. The Namenda segment was the leading segment and accounted for the largest share in 2017 following its use in the treatment of moderate to severe Alzheimer's disease. Exelon segment was the fastest growing segment and is expected to grow at highest CAGR the forecast period.

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On the basis of the application segment, the global cognitive and memory enhancer drugs market is divided into disease treatment, athletic performance, academic performance, and others. Disease treatment was the leading application segment accounting for the largest revenue share in 2017. The outsized share of disease treatment segment is primarily accredited to the high acceptance of drugs in the treatment of neurodegenerative disorders. The academic performance segment is expected to grow at the highest CAGR during the forecast period.

North America was a leading segment in the cognitive and memory enhancer drugs market with more than 40% share of the total market. The U.S. was a leading segment with the highest growth rate due to the increased prevalence of neurological disorders and geriatric population. Demand for cognitive and memory enhancer drugs in elder care will also be fueled by a rise in the number of patients living with Alzheimer’s disease in America. According to the Population Reference Bureau, in 2013, there were 5 million patients with Alzheimer’s disease in North America which is expected to rise up to 14 million in 2050. Moreover, factors such as better health awareness regarding benefits of cognitive and memory enhancer drugs among the population and faster penetration of novel drugs in the market are some of the key factors driving the growth of cognitive and memory enhancer drugs market in North America.

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Europe cognitive and memory enhancer drugs market is growing at a very healthy rate and it will be one of the key markets for cognitive and memory enhancer drugs market globally, representing roughly 30% of global revenues by 2017. The presence of a large number of market players, rising geriatric population and the growing awareness among consumers regarding the key benefits of cognitive and memory enhancer drugs are some of the key factors driving the growth of European cognitive and memory enhancer drugs market. The region has an increasingly aging population characterized by a decrease in mortality rate and a higher life expectancy rate. The geriatric population is more prone to several neurodegenerative disease and dementia, which, in turn, is augmenting the growth in cognitive and memory enhancer drugs market in Europe.

The Asia Pacific is an emerging segment in the cognitive and memory enhancer drugs market and is expected to grow at a lucrative rate during the forecast period. China and India dominate the Asia Pacific cognitive and memory enhancer drugs market. Rise in the geriatric population, demand for cognitive and memory enhancer drugs, and a large patient pool is the other key drivers for the market in the Asia Pacific. The pattern of neurologic diseases in Asia is largely similar to that in the West. Increasing neurological disease rate due to the aging population is expected to drive the growth of cognitive and memory enhancer drugs market. Rapidly developing healthcare infrastructure is a major attributing factor for the growth of cognitive and memory enhancer drugs market in Latin America and the Middle East & Africa. 

Browse the full "Cognitive and Memory Enhancer Drugs Market by Drug Type (Aricept, Razadyne, Namenda, Exelon, Provigil, Ritalin, Adderall, and others) and Application (Disease Treatment, Academic Performance, Athletic Performance and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 –2024" report at https://www.zionmarketresearch.com/report/cognitive-and-memory-enhancer-drugs-market

Some of the key players in the cognitive and memory enhancer drugs market include 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.

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This report segments the global cognitive and memory enhancer drugs market as follows:

Global Cognitive and Memory Enhancer Drugs Market: Drug Segment Analysis

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

Global Cognitive and Memory Enhancer Drugs Market: Application Segment Analysis

• Disease Treatment
• Academic Performance
• Athletic Performance
• Others

Global Cognitive and Memory Enhancer Drugs Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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