Cognitive Assessment and Training in Healthcare Market

Market Snapshot

Forecast Years for Cognitive Assessment and Training in Healthcare Market:	2022 - 2028
Historical Years for Cognitive Assessment and Training in Healthcare Market:	2016 - 2021
Revenue 2021 for Cognitive Assessment and Training in Healthcare Market:	USD 4.3 Billion
Revenue 2028 for Cognitive Assessment and Training in Healthcare :	USD 36.2 Billion
Revenue CAGR (2022 - 2028) for Cognitive Assessment and Training in Healthcare Market :	35.3%
Fastest Growing Region (2022 - 2028) for Cognitive Assessment and Training in Healthcare Market:	Asia Pacific
Largest Region (2021) for Cognitive Assessment and Training in Healthcare Market:	Asia Pacific

Cognitive Assessment and Training in Healthcare Market: By Assessment type, Components, Application and Region

Market Synopsis:

Global Cognitive Assessment and Training in Healthcare market is valued at USD 4.3 Billion in 2021 and is projected to attain a value of USD 36.2 Billion by 2028 at a CAGR of 35.3% during the forecast period, 2022–2028.

Cognitive Assessment and Training in Healthcare has recently garnered attention as a potential area of intervention for ameliorating cognitive decline and dementia. Cognitive training focuses on the acquisition and maintenance of new skills and strategies that will improve cognition in older individuals, while also being able to provide an avenue for wider dissemination of these interventions. Cognition assessment and training is a multibillion-dollar industry that continues to grow at record rates. As the aging population grows, so does the number of people who are afflicted with age-related brain diseases. This has led many health care providers to look into technology as a way to manage these important processes in order to improve their patients' lives.

Growing Prevalence of Dementia and Alzheimer Disease to Drive Growth of Cognitive Assessment and Training in Healthcare Market

The problem of dementia has been a societal one for many years now. In the United States, approximately 1 in 8 people aged 65 and older have Alzheimer's disease (AD), and an additional 1 in 3 over the age of 85 have AD. The number of individuals with dementia is expected to grow as life expectancy increases around the globe. Dementia disproportionately affects women compared to men, with women making up 60% or more of those individuals living with dementia worldwide. In addition to affecting quality of life for both patients and caregivers, it also imposes a financial burden on society- studies have estimated that societal costs attributed to dementia is valued at over 1.3 trillion in 2019, as per WHO. Given this ever-increasing public health problem, it is not surprising that the focus in healthcare has turned to treatment and management methods.

By Application, Clinical trial to Witness Lucrative Growth in Cognitive Assessment and Training in Healthcare Market

As clinical trials begin to target the non-pharmacological treatments for cognitive decline and dementia, a demand is being seen for additional measures of cognition. Areas where this has been especially evident include procedural memory assessment in addition to assessments involved with activities of daily living. Given the higher prevalence with age, cognitive training has been prioritized as one of many co-primary endpoints across high profile trials such as those from Alzheimer's Disease Neuroimaging Initiative (ADNI), Alzheimer's Prevention Initiative (API), and Inception Four.

Pen and Paper Based Cognitive Assessment and Training is Holding Growth Potential

Many of the cognitive assessments that are currently employed for clinical trials involve a paper and pen version. The assessment can then be scored using a standardized protocol where a score is entered into a computerized data set. This allows for the automation of training administration from one clinic to another- as long as all staff members have been trained on this protocol, they will have consistent administration methods across multiple sites.

Moreover, the global market is witnessing high adoption of online pen and paper based cognitive assessment and training as it provides more flexibility as there is no need for travel between various locations if they were being administered within the same building. However, this may not be feasible given regional differences in internet connectivity, language barriers, etc.

North America is the Largest Cognitive Assessment and Training in Healthcare Market

North America is the largest market for cognitive assessment and training because this region has become a hotbed of innovation. There are many new companies emerging in this space, which means there has been an increase in competition to create products that provide consumers with better values. Companies throughout North America are competing to find their niche within these markets by developing innovative techniques and programs so they can separate themselves from the rest of the pack.

The U.S., Canada, and Mexico all have populations that are aging very quickly. As baby boomers reach retirement age, the demand for cognition-boosting services will only continue to grow as more people turn to technology as a way to help them maintain independence for as long as possible. In addition, studies have shown that this region is more likely than others to adopt technology and embrace progressive societal changes. Although Europe has a high number of users for cognitive assessment and training, they tend to be more resistant to change.

The region also has huge population suffering from dementia and Alzheimer diseases. The Alzheimer's Association predicts that as many as 16 million Americans will have the disease by 2050. With more Americans developing dementia each year, demand for cognitive assessment and training tools will only continue to grow.

Key Players:

Some of the key players in the market are 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.

The Cognitive Assessment and Training in Healthcare is Segmented as Follows:

Parameter	Details
Segments Covered	Cognitive Assessment and Training in Healthcare Market Types (Pen-and-Paper based assessment, Hosted assessment Biometrics assessment) On the basis of Components (Solutions, Services) On the basis of Solutions (Assessment, Data management, Project management, Data analysis and reporting, Others) On the basis of Services (Training and support, Consulting) On the basis of Applications (Clinical trials, Screening and diagnostic, Brain training, Academic research, Others) Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered	North America - (U.S., Canada, Mexico) Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe) Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific) Latin America - (Brazil, Argentina, Rest Of Latin America) Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered	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.
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis