The report "Cognitive Assessment and
Training in Healthcare Market by Assessment Type (Pen-and-Paper
Based, Hosted, and Biometrics), Components, Application (Clinical Trial,
Screening & Diagnostics, Brain Training, Academic Research), & Region -
Global forecast to 2021", The cognitive assessment and training in healthcare market
size is estimated 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%.
The major forces driving this
market are aging global population, increasing awareness about brain fitness,
and advancements in technology. The growing market for cognitive solutions and
increasing demand for brain training by next-generation tech-savvy population
are contributing to the growth of the cognitive assessment and training in
healthcare market.
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Clinical trials in terms of
application is expected hold the largest market share in the cognitive
assessment and training in healthcare market during the forecast period
Clinical
trials are mainly used to identify, measure, or monitor cognitive impairments
and cognitive changes. The assessment of cognitive functions is an integral
part of decision making during clinical drug development, as certain drugs can
have an impact on the cognitive capabilities of the brain. The market is
expected to contribute the highest revenue for vendors offering clinical
trials.
Service segment is expected to grow at the highest CAGR in the
cognitive assessment and training in healthcare market and the current trend is
expected to continue during the forecast period
An
Increasing demand for cognitive assessment and training tests and procedures in
the global healthcare market also provides a significant scope for associated
services as well. The growth of the services segment is expected to accelerate,
due to an increasing level of awareness regarding the brain fitness. With the
increasing utilization of cognitive assessment and training solutions, the
services act as an add-on to these solutions making them more valuable.
Providers of cognitive assessment and training solutions and services offer
training and coaching services to deliver balanced cognitive rehabilitation
solutions.
North America is expected
to contribute the largest market share and Asia-Pacific (APAC) to grow at the
highest rate
North
America is expected to hold the largest market share and to dominate the
cognitive assessment and training in healthcare market from 2016 to 2021, due
to the increasing awareness among population about adopting medication for
cognitive diseases. The new generation in this region is more concerned towards
the benefits of cognitive training, which is not just limited to patients with
cognitive dysfunctions. The U.S. market holds a majority of the market share in
terms of adoption as well as revenue generation in the North American market,
due to the rapidly aging population vulnerable to cognitive diseases in the
region. The APAC region is expected to witness the highest growth rate during
the forecast period, as the population in the region is more inclined towards
adopting a healthier lifestyle. Hence, the concerns regarding cognitive
diseases are growing in the region.
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).
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