The growing geriatric population, technologically advanced healthcare services, and escalating awareness regarding mental health are some significant factors propelling the market growth for cognitive assessment and training in healthcare.
Market size: USD 2.26 billion in 2019, Market Growth: 32.6% Market trends: Huge demand for computerized cognitive assessment.
The global Cognitive Assessment and Training in the Healthcare Market is estimated to reach USD 21.81 billion by 2027 from USD 2.26 billion in 2019, with a substantial CAGR of 32.6% during the forecast period.
Cognitive training and assessment is a program to evaluate day-to-day mental activities. The primary function of this program is to enhance the intellectual abilities of an individual. Just like physical exercise and fitness is developed by regular activities, cognitive skills are enhanced with the help of brain exercises. It is proven that exercises help to reduce age-related issues such as dementia.
The increasing awareness regarding mental health and its impact on the individual’s well-being is an essential factor driving the market for cognitive assessment and training in healthcare. The rising geriatric population, common problems such as memory loss and Alzheimer’s, are boosting the market demand.
Various initiatives for product launches by market players are seen to impact the market growth positively. For instance, Savonix introduced a mobile cognitive assessment that reduces the need for pen and paper exams. Such initiatives are expected to propel the market and help in generating considerable revenue for the company.
The constant development of the market trend is also spurring the cognitive assessment and training market’s growth. Incorporating games and activities in cognitive training and evaluation can solve problems such as lack of engaging participants and issue with repetitiveness.
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Further key findings in the report:
- The Cognitive Assessment and Training Market held a market share of USD 2.26 billion in 2019 and is predicted to grow at a rate of 32.6%.
- In regards to the component sub-segment, the solutions section occupied a large market share of around 61% in 2019. The growing demand for healthcare support and solutions that can be used to measure cognitive functioning and contributes to the market share by this category. These offer an added advantage of accessing care services from home without visiting the physician in person.
- In 2019, the clinical trials sub-segment led the market with a 38% revenue share, growing at a CAGR of 32.5%. The assessment of cognitive functioning plays an important role in determining the development of clinical drugs that can be carried out efficiently by clinical trials, adding to the segment’s market share.
- The brain training segment is predicted to grow at a significant CAGR of 33.7% during the projection period and account for around 16% of the market revenue. The increasing understanding of mental health and innovative and exciting activities for brain training.
- In 2019, North America contributed to 41% of the global cognitive assessment and training in healthcare market’s revenue and is expected to grow at a rate of 32% during the projection period. The rising awareness about mental health, the existence of key market players, and the early adoption of advanced technologies in the healthcare industry are the leading factor of cognitive assessment and training in the healthcare market in this region.
- The Asia Pacific region held a market share of 23% in 2019 and is foreseen to witness expansion at the fastest CAGR of 34% from 2020 to 2027. The increasing consciousness about mental health and its effects on the individual, along with the rise in the number of cognitive functioning research, are some of the key factors responsible for the development of the industry in the Asia Pacific region.
Key Participants in the market:
- Cambridge Cognition Ltd.
- Quest Diagnostics
- Medavante Inc.
- Neurocog Trials
- Cogstate Ltd.
- ERT Clinical
- Brain Resource Company
Cognitive Assessment and Training in Healthcare Market Size, Share And Industry Analysis By Component Type (Services, Solution), By Assessment Type (Biometrics Assessment, Pen and Paper Based-Assessment, Computerized Cognitive Assessment, Others), By Application (Screening and Diagnostics, Clinical Trials, Academic Research, Brain Training, Others) And Region, Segment Forecasts To 2026, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cognitive-assessment-and-training-in-healthcare-market
For the purpose of this report, the global cognitive assessment and training in healthcare market has been segmented based on component, assessment type, application, and region:
Component Outlook (Revenue, USD Million; 2017-2027)
Assessment Type Outlook (Revenue, USD Million; 2017-2027)
- Computerized Cognitive Assessment
- Pen and Paper-based Assessment
- Biometrics Assessment
Application Outlook (Revenue, USD Million; 2017-2027)
- Academic Research
- Clinical Trials
- Brain Training
- Screening and Diagnostics
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Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Cognitive Assessment And Training in Healthcare Market Segmentation & Impact Analysis
4.1. Cognitive Assessment And Training in Healthcare Market Segmentation Analysis
4.2. Industrial Outlook
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