Vinpocetine Drug Market: Increase in issues related to brain health causing cognitive diseases among people is major driver of the market
Vinpocetine drug Market: Introduction
- Vinpocetine is a synthetic drug that has similar properties to the substance found in the Periwinkle plant. Vinpocetine is also known as smart drug or cognitive enhancer, which is helpful in cognitive functions. The drug helps improve blood circulation to the brain (by boosting the availability of glucose and oxygen) and other cerebral metabolism issues.
- Vinpocetine, as a memory enhancer, is majorly utilized for Alzheimer’s disease and also for conditions among people that hamper learning and information processing skills as they age.
Key Drivers, Restraints, and Opportunities of Global Vinpocetine Drugs Market
- Increase in issues related to brain health causing cognitive diseases among people has been a major driver of the market. In the U.S., Vinpocetine drug is marketed as a dietary supplement by market players, where it is also used by people having symptoms related to menopause, chronic fatigue syndrome (CFS), and seizure disorders and prevention of motion sickness, which in turn is boosting the demand for Vinpocetine drug.
- Regulatory changes and revaluation by FDA of Vinpocetine as dietary supplements, considering the fact that the same drug is sold as part of prescription drugs in countries, such as Germany, Russia, and China, are likely to hamper the Vinpocetine drug market in the U.S.
- Ongoing clinical trials show that the drug is effective in the treatment of issues related to inhibiting inflammation and enhancing antimicrobial defences in otitis media, which is a middle ear infection, thereby increasing the demand for Vinpocetine drug in other indications.
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North America to Capture Major Share of Global Vinpocetine Drug Market
- North America accounts for a major share of the global Vinpocetine drug market due to its usage as a dietary supplement by consumers; such as an OCT drug. Furthermore, successful trials on different age groups for the cure of various mental disorders, such as Alzheimer’s disease, has boosted the market. According to report on Alzheimer’s disease by the Alzheimer’s Association, in 2020, more than 5.8 million people in the U.S. are likely to be suffering from Alzheimer's disease, and it is expected to cross the mark of 10 million (13.8 million) for people over age of 65.
- Rise in cases of ischemic stroke in Europe has boosted the Vinpocetine drug market. Europe is expected to account for the second-largest share of the global Vinpocetine market during the forecast period. The market in the region is likely to expand at a significant CAGR from 2020 to 2030.
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Key Players Operating in Global Vinpocetine Drug Market
The global Vinpocetine drug market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global Vinpocetine drug are:
- Gedeon Richter
- Sun Pharma
- Wuhan Hualong Biopharmaceutical
- Haerbin Medisan
- Liaoning Zhiying
- Micro Labs
- Northeast Pharma
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Global Vinpocetine Drug Market: Research Scope
Global Vinpocetine Drug Market, by Form
- IV injections
Global Vinpocetine Drug Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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