In addition, many benefits offered by cognitive drugs such as improved memory and reasoning propel the market growth. Furthermore, ongoing clinical trials and potential drugs in pipeline are some of the other factors strengthening the growth of this market. According to WHO, more than 46 million individuals live with dementia, which acts as an important factor influencing the growth of this market.
The major driving factors that drive the growth of Cognitive and Memory Enhancer Drug Market includes surg in geriatric population and rise in prevalence of memory-related disorders and neurological disorders. These are majorly used to treat patients suffering from schizophrenia, stroke, Alzheimer’s disease, attention deficit hyperactivity disorder (ADHD) or geriatric patients.
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However, with the ongoing vaccinations and decreasing cases of COVID-19, the studied market is expected to regain its full potential over the forecast period.Ĭognitive and memory enhancer drugs are the supplements or simply drugs that stimulate cognitive functional improvement. The overall impact of COVID-19 is negative on the global cognitive and memory enhancer drugs market, owing to decline in the number of visits to hospitals and clinics for the treatment of neurodegenerative, and these drugs are mainly used in the treatment of neurodegenerative disorders, which led to decline in demand of cognitive & enhancer drugs market. The global Cognitive and Memory Enhancer Drugs Market size was valued at $5,079.86 million in 2020, and is projected to reach $8,689.74 million by 2030, registering a CAGR of 5.5% from 2021 to 2030. Cognitive and Memory Enhancer Drugs Market Statistics 2030:
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