by on February 3, 2023
San Francisco, 3 Feb 2023: The Report Cognitive Assessment And Training In Healthcare Market Size, Share & Trends Analysis Report By Assessment (Biometrics Assessment, Pen & Paper-based Assessment), By Component, By Application, By Region, And Segment Forecasts, 2022 - 2030
The global cognitive assessment and training in healthcare market size is expected to reach USD 26.4 billion by 2030, expanding at a CAGR of 25.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Healthcare professionals use cognitive assessment to evaluate patients who exhibit loss of memory or other signs of cognitive impairment. These assessments are helpful in screening for a variety of illnesses including Parkinson's disease, brain tumors, and stroke-related cognitive problems, and identifying patients who are at risk of developing dementia. The rise in incidence rates of dementia cases, increasing awareness regarding cognitive health, and technologically advanced cognitive assessments & training tools remain key factors for growth. Moreover, increased application of cognitive assessments in clinical trials and dementia research are also other factors driving the growth of the market.
The COVID-19 pandemic affected the market with a reduction in emergency visits and significantly delayed outpatient clinic appointments. In addition, consultation services that involve one-on-one interaction were hampered due to concerns about transmission. The market players suffered losses in the initial phase. However, telemedicine and online platforms for cognitive testing and training created new revenue streams to mitigate some of those losses. As a result, cutting-edge technologies such as remote (decentralized) clinical trials and home-based assessments have been adopted at an unprecedented rate.
The demand for brain assessment training by the tech-savvy generation and the expanding market for cognitive solutions are both driving the rise of the cognitive assessment and training sector. Due to the advancement of technology, brain training activities have been steadily incorporated into computerized training on smartphones and tablets, computers, and more recently, gaming consoles. Some brain training regimens focus on particular cognitive skills, while others are more comprehensive and interconnected. Programs for cognitive training may include manipulatives; additional support, such as playing cards; physical activity; tasks requiring paper and pencil; computer-based exercises; and other training techniques.
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Cognitive Assessment And Training In Healthcare Market Report Highlights
Based on the assessment, the pen and paper assessment segent dominated the market with a revenue share of 47.7% in 2021, owing to easier availability, convenience, and affordability. The hosted assessment segment is expected to witness a CAGR of over 26% over the forecast period pertaining to the increased adoption of telemedicine
Based on component, the services segment held a majority of the revenue share of 59.3% in 2021 owing to the increasing demand for training & support and consulting for rater qualification, training, and management that equip raters to administer scales in the most efficient manner while adhering to the highest standards
Based on application, the clinical trials segment dominated the market with a revenue share of 41.0% in 2021 and is expected to retain its position during the forecast period
North America held the largest revenue share of 37.9% in 2021 owing to the rising public awareness related to the treatments of cognitive illnesses. Due to the rapidly aging population in the region, which is susceptible to cognitive disorders, government funding for clinical trials and research has increased
Asia Pacific is expected to witness the fastest CAGR of 26.5% over the forecast period from 2022 to 2030, due to increasing incidence of sports injuries & trauma leading to cognitive impairment, rising geriatric population, rapidly expanding healthcare infrastructure, and growing government backing
List of Key Players in Cognitive Assessment And Training in Healthcare Market
Cambridge Cognition Ltd
CogniFit Inc
Cogstate Ltd
CNS Vital Signs, LLC
Brain Resource Company
WIRB-Copernicus Group
Quest Diagnostics Incorporated
Signant Health
Posit Science
Cognetivity Neurosciences
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