Saturday, June 17, 2017

US Citizens Spend $640Mln Annually to Improve Memory

US citizens are spending $643 million per year on dietary supplements to improve their memory, the Government Accountability Office (GAO) said in a report.

"Memory supplements — dietary supplements claiming to improve memory — are a growing market, with sales estimated at $643 million in 2015, almost double 2006 sales," the report stated on Friday.

The Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) share oversight of memory supplement marketing — labeling and advertising claims — but generally do not approve claims before products are marketed, the GAO noted.

GAO's market review during a 2-month period found most examples of memory supplement marketing on the Internet.

About 96 percent of marketing identified appeared on the Internet, and a total of 490 memory supplement products were identified by the market review, the report said.

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