Cognitive and Memory Enhancer Drugs Market - Global Industry Analysis

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In the last few decades, many pharmacological treatments focused and aimed at improving the cognitive function of the brain in different brain disorders have been explored and has become vital in neurological disorders. Cognitive and memory enhancer drugs are widely being used in the treatment of developmental, neurodegenerative conditions such as attention deficit hyperactivity disorder, Alzheimer’s disease, and Parkinson’s disease. Apart from the key use in disease treatment, many people are using cognitive and memory enhancer’s drugs to improve memory, mental alertness concentration, and to boost energy levels. There are many different cognitive enhancers available in the market under different brand names for different disease applications. Rising popularity and a continued consumer shift towards enhancer drugs usage are driving the growth of the cognitive and memory enhancer drugs market. 

Primary factors responsible for the growth of cognitive and memory enhancer drugs market are increasing geriatric population and prevalence of neurological & memory-related disorders around the world. Spurring demand for memory enhancer in the treatment of psychological conditions such as dementia, schizophrenia is driving the growth of global cognitive and memory enhancer drugs market. Moreover, growing awareness regarding cognitive and memory enhancer drugs and increasing medical expenditure in developing countries is accelerating the growth of the market. However, ethical issues may hinder the growth of global cognitive and memory enhancer drugs market. On the other hand, factors such as increasing focus of key players on  raising efficiency of cognitive drugs and ongoing research activities in novel drug production, untapped market potential in developing countries, potential drugs under pipeline, and clinical trials are expected to generate lucrative opportunities in the cognitive and memory enhancer drugs market  during forecast period.

By drug type, the global cognitive and memory enhancer drugs market is divided into Aricept, Namenda, Provigil, Ritalin, Razadyne, Adderall, Exelon, and others. Namenda drug was the major revenue grosser in 2017. Ritalin was the fastest growing segment in 2017 and is expected to grab a large chunk of total revenue in the coming years.

By application segment global cognitive and memory enhancer drugs market is divided into disease treatment, academic performance, athletic performance, and others. Disease segment accounted largest revenue share in 2017, owing to the high acceptance of cognitive and memory enhancers drugs in neurological diseases treatment. The academic performance segment was the fastest growing segment and is anticipated to grow at the highest CAGR during the forecast period.

Based on the geography, the global cognitive and memory enhancer drugs market is divided into five regions, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to remain the dominant region in terms of revenue generation over the forecast period followed by Europe. The Asia Pacific, on the other hand, was the fastest growing market with the highest year on year growth rate. The Middle East and Africa & Latin America are expected to experience slow growth in the cognitive and memory enhancer drugs market in the years to come. 

 Some of the key players in cognitive and memory enhancer drugs market include Pfizer Inc., Novartis AG, Allergan, Inc., Shire, Eisai Co., Ltd., Johnson & Johnson, AlternaScript LLC, Takeda Pharmaceutical Company Limited, Cephalon, Inc., and Ceretropic.