Global Cognitive Assessment and Training Market: Overview
From 2018 to 2028, a stellar double digit growth would be recorded in the global cognitive assessment and training market, driving up demand, as well as market worth. Factors such as increasing awareness regarding cognitive impairment and need for brain training is driving the market on an impressive growth trajectory, as per TMRR. Advancement in technology is other prominent growth factors in the global cognitive assessment and training market over the stated period. It is pertinent to note here that players are actively participating in improving individual revenue shares, and that will also contribute to growth in the overall market.
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Global Cognitive Assessment and Training Market: Notable Developments
Numerous measures are noted as taken by the top-tier players who are operating in the global cognitive assessment and training market over the forecast period, in order to capture larger market share. These are impacting the way the market operates, along with level of competitiveness. A glimpse if provided below:
2017: CPT and Cambridge Cognition partnered. The former is a trust that works towards bettering outcomes for patients suffering from Parkinson’s’ disease. Massive funds were acquired by the charity in the stated year and these were directed towards CPT research
Prominent names marking the highly fragmented vendor landscape of global cognitive assessment and training market are:
- Cambridge Cognition Ltd. (Cambridge, U.K.)
- Cogstate Ltd. (New Haven, U.S.)
- Bracket (Pennsylvania, U.S.)
- MedAvante, Inc. (New Jersey, U.S.)
- Quest Diagnostic (New Jersey, U.S.)
- ProPhase, LLC (New York, U.S.)
- CogniFit (New York, U.S.)
- ERT Clinical (Pennsylvania, U.S.)
- NeuroCog Trials (North Carolina, U.S.)
- ERT Clinical (Pennsylvania, U.S.)
- Pearson Education (London, U.K.)
- CRF Health (London, U.K.)
- Brain Resource Company (New South Wales, Australia)
Certain top growth strategies include technological advancement to bring innovation to fore, and product development. Key alliances are also not uncommon in the market as these provide a better grasp over a regional market.
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Global Cognitive Assessment and Training Market: Key Trends and Drivers
- Ageing global population is one of the most prominent factors of growth in the global cognitive assessment and training market over the forecast period. The shift from millions to couple of millions is a marked increase in anticipated population growth from 2017 to 2050. This demographic creates a pressing need for such products and services as they are susceptible to diseases such as Parkinson’s.
- Brain fitness is a gaining steam in the market and parents are more aware now of cognitive impairment than ever before. This, couple with growing disposable incomes is a major growth factor in the cognitive assessment and training market over the forecast period.
Global Cognitive Assessment and Training Market: Regional Analysis
From 2018 to 2028, the region that will top revenue in the global cognitive assessment and training market is North America, followed by Europe. Both regions will reap rich dividends of a rapidly ageing population – by 2050, one in four people will be aged 65 and above. Technological advancement here is impressive and so is the rate of its adoption. It is quite pertinent to note here that a string of untapped growth opportunities will also emerge in the Asia Pacific region owing to growing awareness regarding brain fitness and massive strides noted in technology in the region.
Market segmentation:
On the basis of Assessment 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
- Classroom Learning
- Brain training
- Corporate Learning
- Research
- Others
On the basis of Vertical:
- Education
- Healthcare
- Corporate
- Sports
- Defense
- Pharmaceuticals
- Others
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