Increasing Prevalence of Neurological Disorders and Launch of New Products to Augment Growth of Brain Health Supplements Market

 

One of the most popular brain supplements is called Brain Fitness Premium, which boosts the level of fatty acids in your brain. The fatty acids boost brain function by increasing blood flow to the brain and improving neurotransmitter levels, both of which are important to brain function. Other popular brain supplements include: Brain Power Plus, Brain Boosters, Ginkgo Biloba, and Hops Strawns. All of these ingredients are proven to help improve brain function and reduce the risk of Alzheimer's.

Market Dynamics

Increasing prevalence of neurological disorders is expected to propel growth of the brain health supplements market. For instance, according to Alzheimer’s Association, around 5.8 million people in the U.S. aged 65 and older are living with Alzheimer's dementia in 2020. Moreover, launch of new products is also expected to aid in growth of the market. For instance, in January 2020, InnerScope Hearing Technologies Inc. launched its new Brain Health & Dietary Hearing Supplement on Walmart.com.

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the brain health supplements market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.           

However, presence of unapproved pharmaceutical ingredients in nootropic supplements is expected to hinder growth of the brain health supplements market. For instance, according to the findings of a new study published in the journal Neurology: Clinical Practice in September 2020, nootropic supplements often contain unapproved pharmaceutical ingredients, which may be at much higher doses than are considered safe.

Moreover, lack of evidence in effectiveness of brain health supplements is also expected to limit the market growth. For instance, in June 2019, The Global Council on Brain Health (GCBH) found “no convincing evidence” of a link between taking dietary supplements and improvements in cognitive health.

Competitive Analysis

Major players operating in the brain health supplements market include, AlternaScript, LLC, Accelerated Intelligence Inc., Liquid Health, Inc., HVMN Inc., Natural Factors Nutritional Products Ltd., KeyView Labs, Inc., Onnit Labs, LLC, Prevagen, Purelife Bioscience Co., Ltd., InnerScope Hearing Technologies Inc., Quincy Bioscience, Cerebral Success, Amway, Puori, Ocean Health, and Schiff.

Major players operating in the brain health supplements market are focused on adopting various strategies to enhance their market share. For instance, in December 2020, Prevagen agreed to become the official Brain Health Supplement of U.S. Figure Skating.