The vinpocetine supplements market involves dietary supplements containing an extract derived from the lesser periwinkle plant known as vinpocetine. These supplements are increasingly being used to improve cognitive functioning, memory, concentration, and provide protection against oxidative stress. With a high tolerability and minimal side effects, vinpocetine supplements are finding widespread acceptance for their ability to promote brain health and support mental and physical performance, especially with advancing age.
The Global Vinpocetine supplements Market Demand is estimated to be valued at US$ 373.1 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the vinpocetine supplements market are 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. The prominent players are focusing on new product launches and strategic collaborations to expand their share in the global market.
The growing demand for cognitive health supplements, especially among the aging population wanting to enhance brain functioning is propelling the growth of the vinpocetine supplements market. Increasing awareness regarding the benefits of vinpocetine through digital media and e-commerce platforms is boosting sale volumes.
The global expansion of key players through online sales channels and the rising health-conscious consumer base in developing economies will further contribute to the market growth during the forecast period.
Market drivers
One of the major drivers augmenting the demand for vinpocetine supplements is the increasing geriatric population worldwide that is highly susceptible to age-associated cognitive decline. Since vinpocetine is known to enhance cerebral circulation and protect neurons from ischemic damage, its supplements are receiving consideration as a natural therapy for cognitive impairment and dementia. Additionally, rising health consciousness and preferences for herbal and natural remedies over synthetic medications are also fueling the demand.
The current geopolitical situation is impacting the growth of the Vinpocetine supplements market. Rising geopolitical tensions and conflicts in parts of Europe and Asia have disrupted supply chains for raw materials and intermediates used in Vinpocetine supplements. Many countries that produce Periwinkle extract, the key source of Vinpocetine, have faced challenges in exporting it due to sanctions and trade restrictions. This has led to price fluctuations and shortages of Vinpocetine active pharmaceutical ingredients globally. Manufacturers are struggling to cope with high input costs and demand volatility. They will need to diversify their sourcing strategies, establish regional procurement hubs and alternative synthesis routes to make their supply chains more resilient against future political uncertainties. Supplement brands also face risks of reduced consumer spending power in markets disrupted by economic turbulence from geopolitical issues. However, growing health awareness and demand for brain health products could continue bolstering demand in unaffected regions.
For more insights, Read- Vinpocetine Supplements Market
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