MarketsandMarkets forecasts the
cognitive assessment and training in healthcare market size to grow from USD
962.0 Million in 2016 to USD 4,127.2 Million by 2021, at a Compound Annual
Growth Rate (CAGR) of 33.8%. Major factors contributing to the growth of the
market include aging global population, increasing awareness about brain
fitness, and advancements in technology. These factors will drive the adoption
rate of cognitive assessment and training in healthcare in the years to come.
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The
cognitive assessment and training in healthcare market is segmented by
assessment type, component, application, and region. The component segment is
further classified into solutions and services. The various solutions are
categorized into assessment, data management, project management, data analysis
and reporting, and others (including rater training and prescreening solution).
Among these, the assessment solution is expected to grow at the highest CAGR,
as these solutions give convenient accessibility at home and do not require
consulting from physicians. These solutions are used to monitor changes in the
cognitive function, following the treatment with drugs or other types of
interventions. The services include training & support and consulting.
Training and support services are expected to grow at the highest growth rate
during the forecast period. Cognitive assessment and training solution and
service providers offer training and coaching services to deliver balanced
cognitive rehabilitation solutions. The coaching and training segment comprises
spreading awareness as well as educating the community and professionals about
challenges related to brain and mental health.
The
applications segment includes clinical trials, screening & diagnostic,
brain training, and academic research (including patient recruitment and
patient engagement). The screening and diagnostic application is expected to
grow at the second highest CAGR during the forecast period. Screening tests are
used for the detection of cognitive impairment. Early detection of cognitive
disorders enables patients to take timely action and access to the available
drug and non-drug treatments that may improve cognition. In contrast,
diagnostic tests are performed when there are symptoms/signs that suggest
conditions are present for cognitive impairment and a test is needed for
diagnosis confirmation.
The
global cognitive assessment and training in healthcare market has been
segmented on the basis of regions into North America, Europe, Asia-Pacific
(APAC), Middle East & Africa (MEA), and Latin America to provide a
region-specific analysis in the report. North America is expected to have the
largest market share and would dominate the market from 2016 to 2021, due the
growing number of vendors providing cognitive assessment and training in
healthcare. The U.S. market holds a majority of the market share in terms of
adoption as well as revenue generation in the North America market, due to the
increased awareness among population and the growing demand for improving neuroplasticity
of brain.
The
major vendors in the cognitive assessment and training in healthcare market
include Cambridge Cognition Ltd. (Cambridge, U.K.), Cogstate Ltd. (New Haven,
U.S.), Bracket (Pennsylvania, U.S.), MedAvante, Inc. (New Jersey, U.S.), Quest
Diagnostic (New Jersey, U.S.), ProPhase, LLC (New York, U.S.), CogniFit (New
York, U.S.), ERT Clinical (Pennsylvania, U.S.), NeuroCog Trials (North
Carolina, U.S.), and Brain Resource Company (New South Wales, Australia). The
companies adopted various strategies such as new product launches &
enhancements, partnerships & agreements, and mergers & acquisitions to
cater to the needs of the market.
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