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The Global Cognitive Assessment and Training Market is Being Propelled by Importance to Achieve Higher Literacy Rate

Global Cognitive Assessment and Training Market is expected to reach USD 36.2 Billion by 2028 and register a Compound Annual Growth Rate (CAGR) of 35.3% during the year 2022-2028. Cognitive training or brain training is a tool that teachers and health professionals can use to enhance and improve medical interactions with clients.  Cognitive assessment and training help students and others determine the function of their brains and the speed at which their brains can process information. Tests are performed to determine a person's ability to learn by identifying his or her strengths and weaknesses. Proper assessment of these features enables a person to learn and overcome weaknesses.  Cognitive assessment and training have become popular owing to increased use to achieve literacy rates and to improve economic conditions, especially in developed countries.

The market is primarily driven by an increase in the number of adults and growing awareness about the importance of maintaining brain resilience. The growing prevalence of dementia in the elderly contributes to the adoption of psychiatric tests and training solutions as they facilitate and effectively diagnose and treat the disease. Increased use of solutions for learning disabilities such as dyslexia and dyscalculia in children, acts as another growth factor. In addition, the various technological advances in the healthcare industry and the increasing adoption of mobile-based IT systems also provide impetus to market growth. For example, computer psychological testing provides automatic scores, which help to improve the accuracy of detection and reduce the chances of human error. Other factors, including rising health care costs and comprehensive research and development (R&D) activities, are expected to boost the market. Some restraints of the Cognitive Assessment and Training Market are strict market training laws and government regulations around the world, hampering the market growth. Also, the market faces limitations, such as time constraints in developing clinically certified brain training solutions and negative media coverage of the effectiveness of brain training.

Based on the type of cognitive assessment and training in healthcare, the market is divided into pen and paper-testing, handling tests, and biometric testing. In part, cognitive assessment and training in the healthcare market is divided into solutions and services. Part of the solutions are further divided into data management, testing, data analysis & reporting, project management, and more. On the other hand, part of the services is divided into training & support, and consultation. Based on the application, the market is divided into clinical trials, tests & diagnosis, brain training, educational research, and more. Diagnosis and evaluation are used to diagnose all types of mental retardation.

The global market is categorized based on regions in North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide regional-specific analysis in the report.

Asia Pacific is expected to have the largest market share and will dominate the market, thanks to an increase in the number of retailers providing psychotherapy and health care training. The American market captures a large portion of the market in terms of acquisition and monetization in the North American market, due to increased public awareness and the growing need to improve brain neuroplasticity.

Major retailers in the market of cognitive assessment and training include Bracket, Brain Resource Company, Cambridge Cognition Ltd., CNS Vital Signs, LLC, CogniFit Ltd., Cogstate Ltd., Impact Applications Inc, Listen and Learn Pty Ltd., Lumos Labs, Inc., Medavante-ProPhase Inc. by WIRB-Copernicus Group, Posit Science Corporation, Quest Diagnostics Incorporated, Signant Health, and Synergy Wellness.

Companies have adopted a variety of strategies such as the introduction of new products and enhancements, relationships and agreements, and integration and acquisitions to meet market needs.