The global cognitive assessment and training market size is expected to reach USD 15.65 Billion in 2028 at a CAGR of 20.3% during the forecast period. Rising popularity of gamification in cognitive assessment and training is a key factor supporting growth of market. Increasing incorporation of game features into cognitive tasks without compromising data quality, scientific value, and intervention effects to improve the engagement of participants has boosted popularity of gamification and this is expected to drive market revenue growth during the forecast period.
Cognitive assessment and training is a tool used to assess the psychological functioning and information processing speed of an individual. The assessment helps in recognizing and focusing on the special needs of the person. Cognitive assessment and training are not limited to adults, but are also used for children with learning disabilities such as dyslexia and others. Cognitive assessment tools have been extensively used for elderly individuals suffering from sight challenges and neurological conditions such as dementia and Alzheimer’s disease. Increasing awareness regarding advantages of improving and maintaining brain health is among some of the major factors supporting revenue growth of the market.
Prominent players in the market are focusing on development of mobile software and applications based on Machine Learning (ML) and Artificial Intelligence (AI) to launch new and more advanced solutions in the market. Increasing application of emerging and more advanced technologies in cognitive assessment and training is a key factor propelling market growth. However, misleading information and negative publicity related to the efficacy of brain training and assessment is a potential factor expected to restrain market growth to a certain extent during the forecast period.
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Some Key Highlights in the Report:
- Clinical trials segment accounted for largest revenue share in 2020 and is expected to lead in terms of revenue share among other application segments. Improved identification and assessment of cognitive changes and increased capability of diagnosing and reducing chances of patient developing brain disease have resulted in development of advanced solutions and programs and this is expected to drive revenue growth of this segment going ahead.
- Education segment revenue is expected to expand at a significant rate over the forecast period. This growth can be attributed to increasing demand for cognitive assessment solutions and programs due to rising concerns among educators to accurately understand the learning disability and thought process of a student and prepare study materials accordingly to develop vital life skills for the student.
- North America accounted for a significant share of the market in terms of revenue in 2020, which is attributable to a rapidly increasing geriatric population and increasing incidences of dementia and neurodegenerative conditions in the United States and Canada. The United States government has invested a significant amount in research and development to develop advanced solutions for mental health issues and conditions and this is expected to further fuel revenue growth of the market in the region.
- Major companies operating in the market include Quest Diagnostics, BrainWare, MeritTrac, Cambridge Cognition, Pearson, MedAvante-ProPhase, Cogstate, Winterlight Labs, Philips, and Signant Health.
- In February 2021, Shift Concussion Management, Inc. and VoxNeuro signed a partnership agreement to improve concussion evaluation and treatment for athletes and patients. The partnership added objective brain health data to the former’s prominent concussion management program. Shift Concussion Management, Inc. will be using VoxNeuro’s brain health assessment in combination with clinical findings to provide accurate information about treatment strategies, improve patient outcomes, and accelerate recovery period.
For the purpose of this report, Emergen Research has segmented the global cognitive assessment and training market on the basis of component, organization size, application, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Solutions
- Assessment
- Data Management
- Data Analysis and Reporting
- Cognitive Training
- Others (Rater Training, Concussion Management, and Screening Solutions)
- Services
- Training and Support
- Consulting
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Application Outlook (Revenue, USD Billion; 2018–2028)
- Clinical Trials
- Learning
- Research
- Others (Diagnostics, Recruitment and Patient Engagement)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Healthcare and Life Sciences
- Education
- Corporate
- Others (Sports and Government & Defense)
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- Israel
- Rest of MEA
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