Cognitive Assessment and Training in Healthcare Market

Cognitive Assessment and Training in Healthcare Market Size (2023 to 2028)

The global market size for cognitive assessment and training in healthcare is anticipated to value USD 21.71 billion by 2028 from USD 5.89 billion in 2023, growing at a CAGR of 29.8% from 2023 to 2028.

Cognitive training and assessment is a program for assessing everyday mental activities to improve or maintain an individual's cognitive abilities. CT&A hypothesizes improving cognitive skills through brain exercises like physical fitness that develops through regular physical activity. In addition, it helps assess an individual's psychological functions, like the speed of information processing in the brain. Being a mental process of gaining knowledge and understanding, Cognitive assessment is very useful in detecting dementias, individual cognitive training, and much more. As a result, firms increasingly utilize these tests as part of the employment process to identify candidates who may need further screening.

Impact of COVID-19 on the global cognitive assessment and Training in the healthcare market:

During the COVID-19 pandemic, cognitive training and assessment in the healthcare market had a positive impact due to the adoption of e-learning and work-from-home, primarily supported by e-health initiatives. In addition, monitoring cognitive capacities has become a crucial part of the evaluation process for healthcare providers due to the detrimental psychological effects that patients experience after infection. Therefore, with the pandemic's onset, mobile technology is also needed in cognitive evaluation and clinical research for patient recruitment, data collecting, symptom monitoring, and health management.

MARKET DRIVERS:

The growing adoption of healthcare gamification, the growing aging population, and the increasing importance of mental health are a few factors that propel the growth of cognitive training and assessment in the healthcare market.

In addition, this game helps induce a ray of positivity in behavioral health by engaging, motivating, and entertaining the person in various activities, which is also found to be effective in reducing a wide range of disorder-related symptoms. This potential of gamification has been harnessed by various fields, such as the business sector and education, since it offers numerous systematic reviews, and also in hospitals due to the use of smartphones for Collecting Clinician-Reported Outcome (ClinRO) measures.

The growing adoption of BYOD in clinical trials to augment cognitive training and assessment in healthcare market growth.

The emergence of digital technologies in the healthcare industry due to the growing demand from doctors and hospitals to access patient databases on mobile devices potentially supports market growth. This is also expected to drive the increasing adoption of IT systems with increasing digitalization, leading to higher growth. Guidelines are being developed on the recommended approach with the industry shift to electronic data collection to establish a similarity between the electronic version of a physician-administered measure and the paper version.

Additionally, mental activities help minimize the risk of age-related cognitive problems such as dementia and Alzheimer's disease, which are among the factors further expected to boost global cognitive training and assessment in the healthcare market. Furthermore, increased awareness, continuous increase in the geriatric population, high rate of occurrence of memory loss frequently with age, and different countries adopting the need for cognitive assessment training in many colleges, universities, companies, and other research organizations are foreseen to drive the growth of cognitive training and assessment market.

MARKET RESTRAINTS:

Lack of awareness, strict government regulations among various countries under both developed and developing economies, and negative publicity about brain training-related cognitive assessment tools through the media are the major restraining factors that might hinder the market's growth. Also, constraints in time for developing clinically validated solutions for brain training, along with adverse reports on the effectiveness of brain training, are hampering the growth of the cognitive training and assessment market.

REPORT COVERAGE:

This report on the global cognitive assessment and training in the healthcare market has been segmented and sub-segmented into services, applications, end-user, and regions.

Cognitive Assessment and Training in Healthcare Market – By Services:

• Training and support
• Consulting

Based on the services, the cognitive training segment is anticipated to capture a significant share of the global over the forecast period. Artificial intelligence-powered machine learning algorithms benefit users in the healthcare industry. A wide range of creative alternatives for constructing modular products based on the most relevant client needs will be made available by integration with intuitive technology.

On the other hand, the consulting segment is estimated to showcase a moderate CAGR during the forecast period. Consultants offer advice and expertise to the patients for their treatments to help them improve their performance, focusing on strategy, operations, and human resources for the accurate and efficient treatment of cognitive training and assessment.

Global Cognitive Assessment and Training in Healthcare Market – By Application:

• Clinical trials
• Screening and diagnostic
• Brain training
• Academic research

Based on the application, the brain training segment is estimated to dominate the market. It determines the brain health of individuals, helps doctors track risks and changes in brain health, and offers benefits like maximization, early detection, and prevention of health assessments. This increasing adoption of cognitive assessment tools is attributed to the market's growth.

The clinical trials segment is expected to lead the market during the forecast period. These are used for measuring, monitoring, and identifying cognitive changes and various other tools like clinical device development and clinical drug development.

Global Cognitive Assessment and Training in Healthcare Market – By End-User:

• Healthcare
• Research Organizations
• Education

The healthcare segment is expected to hold the largest market share during the forecast period owing to its application in cognitive assessment to screen people with mental or cognitive disorders like dementia, which can be caused by stroke, advancing age, or alcohol consumption, leading to various other brain or head injuries. This needs to assess these disorders would drive the adoption of cognitive training and assessment solutions.

The Educational segment is also foreseen to hold a substantial market share during the forecast period. These service providers have been recognized as the manufacturers' target consumers, helping manufacturers focus on developing products specifically tailored to their customers' needs.

Global Cognitive Assessment and Training in Healthcare Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The region of North America is expected to hold a significant share of the global market over the forecast period. This is attributed to increased mental health awareness amongst the population, rapid growth in the geriatric population, and significant regional market players. The increasing frequency of dementia patients, early adoption of technological advances in the mental health sector like e-learning, and the presence of many providers supplying CT&A support market development.

North America is also a leader in both development of neurological treatments and the treatment of dementia, one of the rising memory loss disorders among the aging population, its high consumer disposable income and rising popularity among children regarding gamification of cognitive training and assessment services, which is very helpful for parents identifying the level of psychological development of children. Such opportunities are expected to help maintain its strong position in the global market.

Europe is expected to account for a notable share of the global market during the forecast period owing to a significant increase in the gamification of training. For example, patients treated with video game training for 90 minutes a week significantly improved verbal memory performance over the other methods adapted, which didn't show many positive results, according to a study published by MyCognition Inc. This resulted in a high provision of video game applications and helped Europe gain a significant global market share.

The Asia-Pacific regions, namely East Asia and South Asia, and Oceania present the most profitable opportunities for the growth of the CT&A market owing to the increase in the elderly population in many countries, South Korea and Japan, Booming digital economies like India and China, increased expenditure on health services and increased expenditure on health services. In addition, a natural extension of the next generation, Advances in health technology, subsequent investments, and the ability of these products to reduce the risk of dementia and significant neurological disorders are other factors leading to the market's growth.

The regions of Latin America, the Middle East, and Africa are also expected to show a high growth rate owing to an increase in research and developmental activities for solutions regarding mental illnesses and conditions and significant investments made by the governments of these regions.

KEY MARKET PLAYERS:

Cogstate Ltd., Cambridge Cognition Ltd., Quest Diagnostic, Bracket, Brain Resource Company, ProPhase LLC, CogniFit, MedAvante Inc., and NeuroCog Trials are a few of the companies playing a significant role in the cognitive assessment and training in healthcare market.

RECENT HAPPENINGS IN THIS MARKET:

• In September 2022, the gateway to the health metaverse, XRHealth, launched a challenging game, NeuroReality Virtual Reality Neurorehabilitation, for cognitive training for people suffering from the consequences of stroke and brain injury.
• In August 2022, Researchers at Tel Aviv University developed a method to measure brain activity with musical tests and detect cognitive decline in older people, called the integration of music in cerebral electrical activity analysis.