Cognitive and memory enhancer drugs market is projected to expand at a significant CAGR of around 5.5% during the forecast period. Cognitive enhancers are medications and supplements that are primarily used to treat patients with alzheimer's disease, schizophrenia, stroke, attention deficit hyperactivity disorder, or aging. The surge in the geriatric population and the rise in the prevalence of neurological and memory-related disorders are the major factors driving the growth of the global cognitive and memory enhancer drugs market. As per the Family Caregiver Alliance, more than one million adults in the U.S. are diagnosed annually with a chronic brain disease or disorder. Whereas, in 2020, as many as 5.8 million Americans were living with Alzheimer’s disease. This prevalence is leading to the high demand for cognitive and memory enhancer drugs by populations suffering from Alzheimer and other memory-related disease which in turn driving the market growth. Furthermore, the advantages provided by cognitive drugs, such as improved memory and reasoning, drives market growth. However, ethical concerns about the use of these drugs may limit the market growth.
The global cognitive and memory enhancer drugs market was positively impacted by the COVID-19 pandemic During pandemic, elderly individuals were on high risk of developing severe forms of neuropsychiatric and cognitive impairments. Several reports have described insomnia, depressed mood, anxiety, post-traumatic stress disorder and cognitive impairment in a proportion of patients after discharge from the hospital. Moreover, concerns associated with the hospitalization and mortality due to COVID among populations has put them under depression and due that people were started taking anti-depressant medicines in order to get out of the situation. In patients with dementia, COVID-19 frequently has an atypical presentation with mental status changes complicating the early identification of cases. This led to the demand for cognitive and memory enhancer drugs.
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Cognitive and Memory Enhancer Drugs Market Segmentation
By Product
- Aricept
- Exelon
- Namenda
- Razadyne
- Provigil
- Ritalin
- Adderall
- Others
By Application
- Disease Treatment
- Developmental Conditions
- Neurodegenerative Conditions
- . Academic Performance
- Athletic Performance
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Novartis International AG
- AbbVie
- Eisai Co., Ltd.
- Cephalon, Inc.
- AlternaScript LLC
- Allergan Plc.
- Takeda Pharmaceutical Company
- Torrent Pharmaceuticals
- Alterna Script LLC
- Reckitt Benckiser Group PLC
- Purelife Bioscience Co., Ltd.
- Liquid Health, Inc.
- Onnit Labs, Inc.
- Quincy Bioscience LLC
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