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  • Published In : Apr 2024
  • Code : CMI6878
  • Pages :160
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical

Market Size and Trends

The vinpocetine supplements market is estimated to be valued at USD 281.4 Mn in 2024 and is expected to reach USD 373.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.

Vinpocetine Supplements Market Key Factors

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The vinpocetine supplements market is driven by the increasing awareness about the benefits of vinpocetine in enhancing memory and treating neurological disorders. The vinpocetine supplements market is expected to witness a positive growth trend during the forecast period. The rising geriatric population which is more prone to neurodegenerative diseases will increase the demand for vinpocetine supplements. Furthermore, the changing lifestyle and increasing health concerns among people are expected to propel the growth of the vinpocetine supplements market.

Rising Prevalence of Cognitive Decline

One of the major drivers behind the growth of the vinpocetine supplements market is the rising prevalence of cognitive decline among the geriatric population globally. Cognitive disorders like dementia and Alzheimer's have become more common. According to data published by World Health Organization, in March 2023, over 55 people had dementia worldwide, over 60% of whom live in low-and middle-income countries and the number is projected to triple by 2050. Vinpocetine is known to help improve cognitive functions like memory, focus and attention by increasing blood flow to the brain. Many clinical studies have proven its efficacy in slowing down cognitive decline and even improving symptoms in mild to moderate cases of dementia. With age being the biggest risk factor, as life expectancy increases globally, more people will suffer from such cognitive disorders in coming years. Vinpocetine supplements are widely marketed and advertised as neuroprotective solutions to delay mental decline naturally. Awareness about such supplements is increasing among the elderly population and their families as a preventive measure or complementary treatment to pharmaceutical medications. Some geriatric care facilities and nursing homes have also started recommending vinpocetine to residents as a safe natural solution for brain health with increasing age. The growing target pool of elderly susceptible to cognitive decline will continue driving the higher demand for vinpocetine supplements in the foreseeable future.

Market Concentration and Competitive Landscape

Vinpocetine Supplements Market Concentration By Players

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Increasing Adoption of Nootropic Supplements

The demand for nootropic supplements that can boost cognitive functions like memory, concentration, and learning ability has seen significant rise in recent years. More people are now looking for natural ways to enhance their brain health and stay mentally sharp. Vinpocetine, a compound originally derived from the periwinkle plant, has gained popularity as a nootropic supplement due to its neuroprotective and cerebral blood flow enhancing properties. Several clinical studies have shown Vinpocetine to be effective in improving memory and protecting against age-related cognitive decline. According to a 2021 survey by the U.S. National Library of Medicine, the past year saw Vinpocetine supplement sales grow by over 35% in the U.S. alone. Growing health consciousness after the COVID-19 pandemic has further accelerated this growth. With many offices now allowing permanent remote working setups, people feel the need to boost their brain power and productivity while working from home. Vinpocetine supplements are increasingly being used to aid focus and concentration during long work hours on laptops and mobile devices.

Vinpocetine Supplements Market Key Takeaways From Lead Analyst

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Market Challenges – Lack of Awareness Among Customers About the Benefits of Vinpocetine

The vinpocetine supplements market is facing challenges due to lack of awareness among customers about the benefits of vinpocetine. Many people are still not familiar with vinpocetine as a supplement and its uses. Despite its potential health benefits, including enhancing memory, increasing brain metabolism, and neuroprotection, there is insufficient robust clinical evidence to fully support its use in various conditions like stroke, dementia, or cognitive decline. This lack of awareness can limit the growth of this market.

Market Opportunities – Growing Health Concerns

There are various opportunities for the vinpocetine supplements market as well. With growing health concerns, people are looking for supplements that can provide cognitive benefits. As research on vinpocetine continues to find its usefulness for brain health and memory, increased awareness can drive greater demand. If manufacturers are able to efficiently promote vinpocetine highlighting its cognitive advantages, they may see higher sales in the future.

Vinpocetine Supplements Market By Form

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Insights, By Form: Convenience Drives the Demand for the Tablet Form

The form segment includes growth tablets, capsules, powder, and others. The tablets segment is estimated to hold 38.1% share of the market in 2024 owing to its convenience. Tablets are small, compact, and portable, making them easy for consumers to carry and consume on the go. The tablet form negates the need for water, unlike capsules, increasing compliance for those with busy lifestyles. Tablets are also perceived as more discreet than other oral forms like powders, allowing for supplementation without drawing attention. From a production perspective, tablets are cost-effective and scalable to manufacture due to established processes. This translates to attractive pricing for consumers and higher margins for manufacturers compared to other formats. Tablets dominate the consumer healthcare space due to these advantages, and the growing health-conscious population relying on supplements and convenience drives the segment's leadership.

Insights, By Application: Expanding the Patient Base of Dementia

The application segment includes dementia, stroke, hearing loss, and others. The dementia sub-segment is expected to account for 34.4% of the market share in 2024 due to its expanding patient base. This can be attributed to the growing prevalence of dementia worldwide as life expectancy increases. Dementia currently affects over 50 million people globally and poses a huge economic burden on healthcare systems. Patients often take Vinpocetine supplements as an affordable, natural option to support cognitive functions. With no cure available, supplements provide ongoing symptomatic relief and quality of life benefits. Growing awareness of memory support has also boosted dementia supplements. The segment gains from this expanding patient pool and focus on preventative healthcare to reduce future dementia risks among aging populations.

Insights, By Distribution Channel: Retail Accessibility Augments the Retail Pharmacies Segment

The distribution channel segment includes retail pharmacies, hospital pharmacies, e-commerce, and others. The retail pharmacies sub-segment is expected to have 37.9% of the market share in 2024 owing to their widespread access and convenience. Pharmacies serve as the first point of contact for medical advice for most communities. Their expertise and product ranges reassure customers seeking healthcare and dietary aids. retails pharmacies allow people to conveniently buy Vinpocetine supplements while fulfilling other pharmacy needs. Pharmacists often suggest popular supplements like Vinpocetine to customers. The segment continues to dominate as retail pharmacies stay committed to accessible, personalized care- a valuable asset for occasional supplement buyers. Other channels are growing but cannot currently overtake pharmacies' strong foothold in the healthcare space.

Regional Insights

Vinpocetine Supplements Market Regional Insights

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North America remains the dominant region in the global vinpocetine supplements market and is anticipated to hold 36.4% of the market share in 2024. North America has historically dominated the global vinpocetine supplements market owing to several favorable factors. The large market size and high per capita consumer spending on supplements in the U.S. and Canada have contributed majorly to North America's stronghold. With increasing awareness about nootropic supplements and their brain health benefits, vinpocetine supplements have gained widespread popularity among health-conscious consumers in the region. Moreover, established distribution channels and strong retail networks of major supplement companies make these supplements easily accessible across the region. The North America vinpocetine supplements market is characterized by the presence of global supplement giants that offer a wide variety of vinpocetine products. This has further intensified competition and driven innovations. Some of the popular brands actively promote their vinpocetine supplements through medical experts and online influencers. This has helped establish vinpocetine as an effective supplement among neuroscience-focused consumers. North America also dominates global vinpocetine exports, with many supplements being exported to markets in Europe, Asia Pacific, and Latin America.

The Asia Pacific region has emerged as the fastest growing market for vinpocetine supplements globally in recent years. Rapid economic development, rising disposable incomes, and growing health consciousness among consumers are some key factors fueling the growth. Especially in countries like China, consumers are increasingly spending on supplements to enhance brain functions and counter lifestyle diseases. Many Chinese pharmaceutical companies have strengthened their presence in the vinpocetine supplements sector through extensive domestic manufacturing and marketing initiatives.

Market Report Scope

Vinpocetine Supplements Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 281.4 Mn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 4.1% 2031 Value Projection: US$ 373.1 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Form: Tablets, Capsules, Powder, and Others
  • By Application: Dementia, Stroke, Hearing Loss, and Others
  • By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E-commerce, and Others 
Companies covered:

Noreva Biotech, Alchem International Pvt. Ltd., Covex S.A., iHerb, LLC., Kabir Lifesciences, Indiana Botanic Gardens, Inc., Dellwich Healthcare LLP, Healthquest Vitamins, SALVAVIDAS PHARMACEUTICAL PVT. LTD., Taj Pharmaceuticals Limited., Hangzhou Longshine Bio-Tech Co., Ltd., Merck KGaA, and Procurenet Limited

Growth Drivers:
  • Rising prevalence of cognitive decline
  • Increasing adoption of nootropic supplements
Restraints & Challenges:
  • Lack of awareness among customers about the benefits of vinpocetine
  • Side effects concerns

Key Developments

  • In March 2023, Care Group launched a dementia awareness campaign to encourage people to stop, think, and learn more about dementia
  • In January 2022, the Public Health Agency of Canada (PHAC) launched the first national dementia awareness campaign during Alzheimer's Awareness Month in Canada, to reduce negative perceptions about dementia and the people living with the condition. The PHAC campaign is supporting the implementation of Canada's first national dementia strategy: A Dementia Strategy for Canada: Together We Aspire and aims to educate and help Canadians better understand dementia and how best to support and interact with people living with the condition.
  • *Definition: Vinpocetine supplements are nutritional pills that contain vinpocetine, which is an extract from the lesser periwinkle plant. Vinpocetine helps improve blood circulation and oxygen delivery throughout the body. It supports brain function and cognition by increasing blood flow to the brain. Vinpocetine supplements are taken to help reduce symptoms of vascular dementia and memory loss. They may also provide benefits for stroke recovery and prevention. Many users report that vinpocetine supplements help boost mental clarity.

Market Segmentation

  •  Form Insights (Revenue, USD Mn, 2019 - 2031)
    • Tablets
    • Capsules
    • Powder
    • Others
  •  Application Insights (Revenue, USD Mn, 2019 - 2031)
    • Dementia
    • Stroke
    • Hearing Loss
    • Others
  •  Distribution Channel Insights (Revenue, USD Mn, 2019 - 2031)
    • Retail Pharmacies
    • Hospital Pharmacies
    • E-commerce
    • Others
  • Regional Insights (Revenue, USD Mn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East
      • GCC Countries
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • North Africa
      • Central Africa
  • Key Players Insights
    • Noreva Biotech
    • Alchem International Pvt. Ltd. 
    • Covex S.A.
    • iHerb, LLC. 
    • Kabir Lifesciences
    • Indiana Botanic Gardens, Inc.
    • Dellwich Healthcare LLP
    • Healthquest Vitamins
    • Taj Pharmaceuticals Limited.
    • Hangzhou Longshine Bio-Tech Co., Ltd.
    • Merck KGaA
    • Procurenet Limited

Frequently Asked Questions

The CAGR of the vinpocetine supplements market is projected to be 4.1% from 2024 to 2031.

Rising prevalence of cognitive decline and increasing adoption of nootropic supplements are the major factors driving the growth of the vinpocetine supplements market.

Lack of awareness among customers about the benefits of vinpocetine and side effect concerns are the major factors hampering the growth of the vinpocetine supplements market.

In terms of form, tablets is estimated to dominate the market revenue share in 2024.

Noreva Biotech, Alchem International Pvt. Ltd., Covex S.A., iHerb, LLC., Kabir Lifesciences, Indiana Botanic Gardens, Inc., Dellwich Healthcare LLP, Healthquest Vitamins, SALVAVIDAS PHARMACEUTICAL PVT. LTD., Taj Pharmaceuticals Limited., Hangzhou Longshine Bio-Tech Co., Ltd., Merck KGaA, and Procurenet Limited are the major players.

North America is expected to lead the vinpocetine supplements market.

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