Market Challenges And Opportunities

Increasing prevalence of mental health disorders : Increasing geriatric population suffering from diseases such as Alzheimer’s, depression, and anxiety among others are expected to drive growth of the global brain health supplements market during the forecast period. For instance, according to the Institute of Health Metrics and Evaluation (IHME), and Global Burden of Disease (GBD), in April 2022, around 10.7% (792 million) of the global population is estimated to suffer from a mental health disorder. Among these, depression cases were around 264 million and anxiety cases were around 284 million in 2021. In 2020, according to the Global Burden of Disease Study 2020, the estimated number of people with anxiety disorders was 264 million, representing a 14.5% increase from people with anxiety disorders in 2005.
Product launches;Market players are focused on adoption of organic growth strategies such as product launches to strengthen their position in the global brain health supplements market. For instance, in July 2020, Mannatech, Incorporated,- a publicly traded, multinational multi-level marketing firm that sells dietary supplements and personal care products, announced the availability of GinMAX tablets (Ginseng Supplement) to its customers in China. GinMAX tablets are used for enhancing the focus, memory, and to fight off fatigue naturally.