The global cognitive assessment and training market size to grow from USD 3.2 billion in 2020 to USD 11.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 29.3% during the forecast period. Various factors such as the rising adoption of gamification for cognitive assessment, social distancing practices resulting in increased adoption of eLearning, and the COVID-19 pandemic leading to the increased need to test cognition at home are expected to drive the adoption of the cognitive assessment and training market.
The data management solutions segment to grow at the highest CAGR during the forecast period
The cognitive assessment and training market by solutions has been segmented into assessment, Data management, data analysis and reporting, cognitive training, and others (rater training, concussion management, and screening solutions). The data management segment is expected to grow at a rapid pace during the forecast period. Accurate data can deliver high quality of clinical services, such as collected data of patients could be used for optimizing trial results and resolving data queries during clinical treatments.
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The learning application segment to grow at the highest CAGR during the forecast period
The cognitive assessment and training market is segmented on the basis of applications into clinical trials, learning, research, and others (diagnostics, recruitment, and patient engagement). The increasing need for educators to provide a customized online teaching methodology for students and assess them virtually would drive the growth of the eLearning solution.
According to MarketsandMarkets, cognitive assessment evaluates important areas of brain function. These areas include memory, concentration, processing speed, language, and reasoning capabilities. Cognitive assessments are critical to complete wellness because they have set a personalized benchmark of brain health for future comparison. A baseline cognitive assessment provides a reference point to measure against in case of problems or concerns (major illness or brain injury). A cognitive assessment evaluates significant areas of brain function, including memory, concentration, processing speed, language, and reasoning capabilities. In recent years, it has become clear that cognitive assessments are critical to ensure mental wellness because they set a personalized benchmark of brain health for future comparison. These assessments enable clinicians to identify the severity of the impairment, monitor the progression of the disease, and provide a detailed explanation of difficulties to the person. Cognitive training or brain training is a tool, which can be utilized by educators and healthcare professionals to supplement and help enhance the therapeutic interactions with clients.
Some of the key players operating in the cognitive assessment and training market include Cambridge Cognition (UK), Cogstate (US), Quest Diagnostics (US), Signant Health (US), Total Brain (US), Pearson (UK), Philips (Netherlands), Signant Health (US), MedAvante-ProPhase (US), CogniFit (US), ERT (US), VeraSci (US), BrainCheck (US), MeritTrac (India), Berke (US), Neurotrack (US), BrainWare (US), Lumosity (US), The Brain Workshop (UAE), ImPACT Applications (US), Savonix (US), Winterlight Labs (Canada), Aural Analytics (US), Unmind (UK), Kernel (US), and Altoida (US). These cognitive assessment and training vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global cognitive assessment and training market.
Cambridge Cognition was founded in 2012 and is headquartered in England UK. The company is a digital neuroscience company that develops and markets validated software technologies to enhance research into brain health, optimize R&D productivity, and precisely quantify cognition in patients globally. The company’s solutions focus on three areas: improving clinical trial outcomes, enabling real-world digital health, and providing gold-standard cognitive research. The company further tries to optimize clinical trial outcomes from proof-of-concept to post-marketing with proven, regulatory-accepted neuroscience technologies and full-service solutions. It also offers software solutions that help healthcare companies to accelerate safe and effective treatment development, helping improve overall patient outcomes in conditions that affect the overall brain health. It offers assessment technologies for mobile, wearable, and online platforms to accelerate the development of new treatments, maximize efficiency and data quality throughout research, and improve health outcomes. The company also provides data analysis and data management services for optimizing trial results and resolving data queries during clinical treatments.
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Cogstate was founded in 1999 and is headquartered in Connecticut, US. Cogstate is a cognitive science company that focuses on optimizing the measurement of cognition to guide the decision-making process in clinical trials, academic research, and healthcare. The company commercializes rapid, reliable, and highly-sensitive computerized cognitive tests across a growing list of domains and supports Electronic Clinical Outcome Assessment (eCOA) solutions to replace costly and error-prone paper assessments with real-time data capturing. Cogstate products and services have been used in hundreds of clinical trials, guiding decision-making for cognitive safety and efficacy across many indications and all phases of development. The company offers its solutions across three categories: clinical trials, healthcare, and academic research. The company also supports a suite of quality assurance solutions for paper-and-pencil neuropsychological assessments, including scale licensing and translations, rater training and monitoring, and eCOAs to ensure data is collected and captured effectively and accurately. The company caters its products and services across North America and Europe.
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