The global cognitive assessment and training in healthcare market is anticipated to witness significant growth over the forecast period of 2020-2027 owing to the growing cases of cognitive impairment, awareness regarding the brain fitness and geriatric population. According to a data published by the World Health Organization in February 2018, the total geriatric population in the world is anticipated to reach a total of 2 billion in next few years. Furthermore, growing technological advancements is also expected to contribute to the market growth.
Based on the assessment type of cognitive assessment and training in healthcare, the market is segmented into pen & paper based-assessment, hosted assessment, and biometric assessment. Rising technological advancements related to cognitive assessment is estimated to drive the market growth.
On the basis of component, the cognitive assessment and training in healthcare market is bifurcated into solution and services. The solutions segment is further classified into data management, assessment, data analysis & reporting, project management, and others. On the other hand, the services segment is divided into training & support and consulting. Convenient accessibility provided at any place by the cognitive assessment & training solutions is expected to drive the market growth. The training & support services are used for educating as well as creating awareness amongst the professionals and the community regarding the brain & mental health challenges.
Based on the application, the market is classified into clinical trials, screening & diagnostics, brain training, academic research, and others. Screening and diagnostic tests are used for detection of all types of cognitive impairment. As per an independent study in October 2019, the prevalence of mild cognitive impairment ranged between 5.13 to 29.9% depending on the age of the patient.
North America held the major share in the market owing to the growing number of cognitive assessment & training providers in the region. Furthermore, presence of major players such as Cogstate Ltd, Bracket, MedAvate, Inc., Quest Diagnostics, ProPhase, LLC, and CogniFit, among others in the region is also expected to contribute to the market growth. Asia Pacific is likely to experience significant growth over the forecast period due to growing awareness regarding cognitive impairment and treatment options for the same.
The major cognitive assessment and training in healthcare market players include Cambridge Cognition Ltd, Quest Diagnostics, Medavante Inc., Cogstate Ltd, Bracket, Brain Resource Company, Neurocog Trials, ERT Clinical, Signant Health, Prophase, LLC, Pearson TalentLens, Cognifit, and Verasci, among others. These players are involved in new product launch, acquisitions, and collaborations to gain a competitive edge over each other. For instance, Person TalentLens launched the DAT Next Generation solution in January 2019. This solution helped in measuring the cognitive ability related to various areas of training and employment.
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