The Cognitive Assessment and Training Market is projected to grow from USD XX billion in 2020 to USD 11.4 billion by 2027, at a CAGR of 29.3% during the forecast period.
In today’s economical market place, businesses take a lot of efforts to seek better solutions in terms of product trends, future products, marketing strategy, future events, actions or behaviours. The Cognitive Assessment and Training report has been worked out with the accurate use of tools like SWOT analysis and Porter’s Five Forces analysis methods. A talented team works strictly with their potential capabilities to produce this finest Cognitive Assessment and Training Market research report. The Cognitive Assessment and Training Market report considers new product development from beginning to launch by performing detailed market study. Getting thoughtful about competitive landscape is another significant aspect of this market report.
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Some of the key players in the study are Cambridge Cognition, CogniFit, Brain Resource Company, NeuroCog Trials, Cogstate. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
This report studies the Cognitive Assessment and Training Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Cognitive Assessment and Training Market by companies, region, type and end-use industry.
Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Global Cognitive Assessment and Training Market, By Assessment Type (Pen-and-Paper based Assessment, Hosted Assessment and Biometrics Assessment), Components (Solutions and Services), Solutions (Assessment, Data management, Project management, Data analysis and reporting and Others), Services, (Training and support and Consulting), Applications (Clinical trials, Classroom Learning, Brain training, Corporate Learning, Research and Others), Vertical (Education, Healthcare, Corporate, Sports, Defence, Pharmaceuticals and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2027″. Early buyers will get 10% customization on study.
To Avail deep insights of Cognitive Assessment and Training Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
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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.
COVID-19 Impact on Global Cognitive Assessment and Training Market
Businesses providing cognitive assessment and training solutions and services are expected to witness a minor decline in their growth for a short span of time. However, the adoption of work from home initiatives, eLearning, and eHealth are expected to drive increased adoption of cognitive assessment and training solutions, and the market would witness a negligible decline in 2020, followed by positive growth. Tracking cognitive abilities is becoming an important activity, as a number of neurologic effects have been observed in people suffering from COVID-19.
Businesses in various verticals are planning to deploy a diverse array of cognitive assessment and training solutions to carry out assessments and track and improve brain health. With the growing focus on mental health and the ability of cognitive assessment and training solutions to be leveraged virtually, the market is witnessing significant growth.
Driver: Rising adoption of gamification for cognitive assessment
Gamification and serious gaming help people induce positive health behavioral changes. Gamification is a relatively new trend that focuses on applying game mechanics to non-game contexts for engaging audiences and adding a little fun into mundane activities besides generating motivational and cognitive benefits. Various fields, such as corporate and education, have taken advantage of the potential of gamification. The digital healthcare domain has also started to explore this concept as an emerging trend. Gamification intends to affect users’ behavior and motivation by means of experiences reminiscent of games. The healthcare domain has seen a rapid ascent in the adoption of gamification and serious games in health self-monitoring and management. The ability of serious games to motivate, engage, and entertain as well as offer numerous systematic reviews prove effective in promoting particular health behavioral changes and reducing a broad range of disorder-related symptoms. Corporate gamification is also gaining traction in the market. Gamification is used to enhance the digital experience, increase collaboration, or engage and motivate employees to participate in initiatives that are strategically important to companies.
Restraint: Time-constraints in developing clinically validated brain training solutions
Companies are trying to improve brain fitness by increasing the number of developing solutions and applications to enhance neuroplasticity. However, after developing brain training solutions, companies need to get clinical approvals for launching their products to be used on people. As it takes a year to develop a clinically-validated brain fitness solution, it restrains the faster growth of the cognitive assessment and training market. The time duration for developing these solutions is vast, as professionals focus on creating solutions for training that contain complex algorithms to provide appropriate exercises for the brain. Moreover, with the increasing cases of Alzheimer’s, Attention Deficit Hyperactivity Disorder (ADHD), and other cognitive dysfunctions have led to the need for effective solutions that use the latest technologies.
Opportunity: Growing need for technological advancements in the healthcare industry during COVID-19
The usage of smartphones and tablets to collect Clinician-Reported Outcome (ClinRO) measures are rapidly increasing worldwide. With the industry shifting toward electronic data collection, guidelines are being created on the recommended approach for establishing a similarity between the electronic version of a clinician-administered measure and the paper version. Moreover, the adoption of mobile technologies in cognitive assessment and clinical research for patient recruitment, data collection, symptom monitoring, and health management are in huge demand with the outbreak of the COVID-19 pandemic. Patients need better mental treatment, and to improve patient compliance, patient care, patient safety, and patient satisfaction, the adoption of mobile applications and IT systems is increasing in hospitals and healthcare centers. Also, the increasing demand from physicians and hospitals to access patient databases remotely is projected to support the growing adoption of mobile applications and IT systems in healthcare organizations.
Challenge: High dependency on traditional assessment methods
Assessment is central to learning: it shapes the learning experience yet is a critical and time-consuming function for teachers, doctors, and even coaches. Pen and paper-based assessment is the traditional approach for measuring the cognitive behavior of any individual. The approach involves a set of questions that an individual is asked to take. The responses are then analyzed, and based on their analysis, the cognitive quotient of an individual is achieved. Written assessments may not be testing the students’ knowledge but rather their writing skills and ability to express their learning. Still, organizations depend on pen and paper-based assessment methods as these prove helpful in collecting the samples of student work to assess individual progress and diagnose areas of misunderstandings. Standardized tests are now commonly administered on computers, but classroom assessment usually requires students to submit written responses on paper. In a classroom setting, paper-and-pencil assessment frequently refers to tests scored objectively, which are meant to measure memorized knowledge and lower levels of understanding, as compared to performance-based assessment, which is meant to measure deeper understanding through skills and ability. But with the increased use of technology, education institutions and healthcare providers need to start adopting computer-based testing that offers the opportunity to design more effective, interactive, and engaging formative assessment and feedback.
Among verticals, the healthcare and life sciences segment to hold the largest market size during the forecast period
The cognitive assessment and training market is segmented based on verticals. The verticals include healthcare and life sciences, education, corporate, and others (sports, government, and defense). The healthcare and life sciences vertical is expected to hold the largest market share during the forecast period. The healthcare and life sciences organizations use cognitive assessment to analyze people with mental or cognitive disabilities and is being used in the detection and therapy of dementia. Cognitive impairment can be caused in early childhood or late adulthood. Advanced age and conditions such as dementia, stroke, substance abuse, and alcohol consumption may also cause cognitive disorders. Brain/head injury and infections can cause impairment at any stage of life. The need to detect and assess such conditions is expected to drive the adoption of cognitive assessment and training solutions.
Clinical trials application to hold the largest market size during the forecast period
The cognitive assessment and training market is segmented based on applications into clinical trials, learning, research, and others (diagnostics, recruitment, and patient engagement). Easy assessment and identification of cognitive changes and the ability to detect, diagnose, and reduce the chance of developing the disease in patients would drive the adoption of the clinical trials application.
Asia Pacific to grow at the highest CAGR during the forecast period
North America is expected to hold the largest market size in the global cognitive assessment and training market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The growing awareness of mental health and cognitive skills in key countries, such as China, India, and Japan, is expected to fuel the adoption of cognitive assessment and training solutions and services. Technological advancements and digitization in these countries are also expected to increase the demand for cognitive assessment and training solutions from key verticals, such as healthcare and life sciences, education, and corporate.
Key Market Players
The cognitive assessment and training vendors have implemented various types of organic as well as inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The major vendors in the global cognitive assessment and training market include Cambridge Cognition (UK), Cogstate (US), Quest Diagnostics (US), Signant Health (US), Total Brain (US), BrainWare (US), Pearson (UK), Philips (Netherlands), MedAvante-ProPhase (US), CogniFit (US), ERT (US), VeraSci (US), BrainCheck (US), MeritTrac (India), Berke (US), Neurotrack (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). The study includes an in-depth competitive analysis of these key players in the Cognitive assessment and training market with their company profiles, recent developments, and key market strategies.
Scope of the Report
This research report categorizes the Cognitive assessment and training market based on components, deployment modes, organization size, business functions, verticals, and regions.
- Data Management
- Data Analysis and Reporting
- Cognitive Training
- Others (Rater Training, Concussion Management, and Screening Solutions)
- Training and Support
By Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Clinical Trials
- Others (Diagnostics, Recruitment and Patient Engagement)
- Healthcare and Life Sciences
- Others (Sports. and Government And Defense)
- North America
- Latin America
- In June 2020, ERT acquired APDM Wearable Technologies to reinvent endpoint measurement in clinical trials. Both companies will generate higher-fidelity and more powerful data to enable clinical trials to be more predictable, cost-effective, and efficient.
- In May 2020, Total Brain partnered with the Center for Adolescent Research and Education (CARE), a national collaborative of institutions and organizations committed to increasing favorable youth outcomes and reducing risk. The partnership will promote positive youth development by offering CARE collaborative teen beneficiary access to Total Brain’s neuroscience-based mental health and wellness assessment and screening tools.
- In December 2019, Philips extended its AI portfolio with the launch of IntelliSpace AI Workflow Suite to seamlessly integrate applications across imaging workflows. The comprehensive AI workflow platform provides a full suite of applications for integration and centralized workflow management of AI algorithms, delivering structured results wherever they are needed across healthcare enterprises.
- In November 2019, Cambridge Cognition expanded the eCOA offering and bagged a contract with the top 10 pharmaceutical companies. The aim of this solution enhancement was to include complex forms, alerting, interview recording, and playback. With the launch of enhanced functionalities, the Company is pleased to announce a new clinical trial contract worth over USD 225,000.
- In Janurary 2019, Total Brain partnered with the Center for Adolescent Research and Education (CARE), a national collaborative of institutions and organizations committed to increasing favorable youth outcomes and reducing risk. The partnership will promote positive youth development by offering CARE collaborative teen beneficiary access to Total Brain’s neuroscience-based mental health and wellness assessment and screening tools.
Key Questions Answered in Competitive Landscape-
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- Cognitive Assessment and Training market global report answers all these questions and many more.
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