Cognition-enhancing drugs, or nootropics, allegedly improve memory and creativity in individuals. Nootropics have been around for thousands of years in ancient India and China, dating back to at least 3000 BC. Some of these herbs, such as Bacopa monnieri and Camellia sinensis (green tea), have been validated by current medical and pharmaceutical research. Modern techniques have further enhanced the potency of these drugs using better extraction methods and supplementation with other formulations to amplify the natural effects of nootropics.
Market for nootropics in Asia, Europe, and the Americas
The global market for nootropics is estimated at around $3.1 billion in 2016, a 106% increase since 2013. Majority of the nootropics market still rests in parts of Asia-Pacific, but the use and culture are quickly catching with the Westerners – the Americas, United Kingdom, and parts of Europe. Geographically, North America is the largest consumer of nootropics, comprising about 45 percent of the market share. This can primarily be attributed to public awareness about nootropics and the rise in self-directed need for alternative medications for preventive cognitive health care. Further, given the evolving nature of health insurance in the United States, there is a greater need for preventive medicine that may result in overall reduced medical costs. The current market for nootropics is growing at 18% per year and estimates suggest that, at this growth rate, the market could be over 6 billion dollars by the year 2024. Memory enhancing drugs alone accounts for the largest (10 percent) share of all the nootropics. Other nootropics may be used in improving attention span, pain relief, or in the treatment of anxiety.
Global market futures of nootropics
The global market for nootropics is not mainstream, but is growing steadily and exponentially. Medical research intro nootropics fueled by public interest is making them even more popular, getting them out of the doctors closet into the hands of common people. Ultimately, it’s a personal choice based on the trade-off between unknown risks of nootropics due to lack of clinical research and the effectiveness and benefits they may offer.