Cognitive and Memory Enhancer Drugs Market Will Generate Record Revenue by 2029

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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