Market Highlights:
Cognitive assessment and training modules have become a sought-after solution for evaluating the intellectual capability of an individual. Demand for such solutions has grown consistently in recent years. Market Research Future (MRFR’s) latest report reveals that the global cognitive assessment & training market will surge at a compound annual growth rate of 25% during the forecast period (2017-2023).
Cognitive assessment is increasingly used for determining an individual’s grasping power, learning ability, concentration span and various other psychological attributes. Its also being leveraged to understand and study the metal status of people in order to tackle issues of depression and emotional stress. Cognitive training can help overcoming various psychological barriers and improve mental strength. These assessment and training modules vary depending on the age and mental status of as individual. From a teenager to and elderly person, cognitive assessment is being the utilized to understand mental strength of individuals belonging from different age group. It can also help students who face learning difficulties or have disorders such as dyscalculia and dyslexia. The aforementioned factors are reflecting favourably on the global cognitive assessment and training market. Efficient brain training is viewed as an important part of developing the intellectual capacity of human being further, where cognitive assessment and training can play a pivotal role.
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Major Key Players:
- Cambridge Cognition Ltd. (U.K),
- Cogstate Ltd. (U.S.),
- Bracket Global (U.S.),
- Medavante, Inc. (U.S.),
- Quest Diagnostics, Inc. (U.S.),
- ProPhase, LLC (U.S.),
- Cognifit (U.S.),
- Eresearchtechnology Inc. (U.S.),
- Neurocog Trials, Inc. (U.S.),
- Pearson Education (U.K)
According to MRFR, The global cognitive assessment and training market is expected to grow with approximately 25% of CAGR during forecast period 2017-2023.
Industry News
Prominent private equity firm CIP Capital recently revealed that is made an investment in the US based provider of research-proven math products and innovative learning services Carnegie learning. CIP is also plotting to merge its newly acquired Language Learning Solutions business New Mountain Learning (NML) with Carnegie to create a dynamic, progressive and comprehensive synergy that can develop advanced learning technologies.
Market leader CogniFit has recently introduced an innovative online cognitive assessment battery aimed at helping identify signs of depression and the changed cognitive processes it causes. In addition, the battery will also specify the individual’s cognitive risk index for depression.
Regional Analysis:
The global cognitive assessment & training market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the cognitive assessment & training market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of cognitive assessment & training market owing to the presence of a large number of established key players like Cogstate Ltd., Bracket global, Medavante, Inc., Quest Diagnostics, Inc., Prophase, LLC and Cognifit in that region. Due to the growing number of vendors providing cognitive assessment and training services in the region, the cognitive assessment and training market is showing immense growth in the coming future. In addition to this, North America also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations and advancements in technology are other major factors responsible for driving the growth of cognitive assessment & training market. In the global cognitive assessment & training market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions.
Segmentation
The cognitive assessment & training market has been segmented on the basis of component, assessment type, application and vertical. The component segment is bifurcated into solution and services. The assessment type segment is further bifurcated into hosted assessment, biometric assessment and pen & paper based assessment. Growing emphasis on quality education is one major factor driving the growth of cognitive assessment and training market.
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Intended Audience
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Software Vendors
- CROs
- Hospitals
- Healthcare practitioners
- Brain training companies
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