Cognitive Assessment and Training Market

[150 Pages Report] The global cognitive assessment and training market to grow from USD 1.98 billion in 2016 to USD 8.06 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%. The year 2015 has been considered as the base year, while the forecast period is 2016–2021.

Cognitive impairment can occur in early childhood or late adulthood. There are various reasons for it, which can be reversible or irreversible. Early causes may include malnutrition, prenatal drug exposure, genetic syndromes, and chromosome abnormalities. The brain retains its neuroplasticity till late adulthood; therefore, there has been a growing demand for cognitive assessment and training.

Market Dynamics

Drivers

• Aging global population
• Increasing awareness for Brain fitness
• Advancement in technology

Restraints

• Time constraint in developing clinically-validated brain fitness software
• Negative publicity in the media about brain training efficiency
• Stringent government regulations across the globe

Opportunities

• Increasing use of advanced cognitive assessment and training tools
• Rise in demand for improved brain fitness

Challenges

• Appropriateness of the cognitive assessment process
• Brain Fitness education to the population

The objective of the report is to define, describe, and forecast the cognitive assessment and training market on the basis of assessment types, components (solutions and services), applications, vertical, and regions, and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

Top-down and bottom-up approaches were used to estimate and validate the size of the global cognitive assessment and training market and to estimate the size of various other dependent submarkets. The key players in the market were identified through secondary research such as Alzheimer’s Diseases Association ,American Psychological Society, Society for Industrial and Organizational Psychology, International Test Commission  and their market shares in respective regions were determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of top market players and extensive interviews for key insights from industry leaders. All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources. All possible parameters that affect the market are covered in this research study, have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets. Also, extensive interviews with key people such as CEOs, VPs, Directors, and executives were conducted to understand the market trend.  

The breakdown of profiles of primary discussion with the participants is depicted in the below figure:

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The cognitive assessment and training in healthcare ecosystem comprises solution providers, such as Cambridge Cognition Ltd. (Cambridge, England), Bracket (Pennsylvania, U.S. ()), Quest Diagnostics (New Jersey, U.S.), and Cogstate (Connecticut, U.S.). Other stakeholders of the cognitive assessment and training in healthcare market include service providers, platform service providers, Contract Research Organizations (CROs), and Value-Added Resellers (VARs).

Major Market Developments

1. In October 2016, Quest Diagnostics and IBM Watson Health have together launched IBM Watson Genomics. Quest Diagnostics uses IBM’s cognitive computing for helping physicians in bringing treatment for cancer.
2. In January 2017, Cambridge Cognition partnered with the CPT, a trust aiming to develop new treatments for Parkinson’s disease. Through this partnership, Cambridge Cognition has chosen CPT as its beneficiary, Charity of the Year 2017. All the funds raised in 2017 will support the research work of CPT.
3. In December 2016, ERT acquired an England-based clinical trial vendor, Exco InTouch. The company focuses on patient engagement and data collection via mobile apps, which supports the ERT eCOA, by offering patient-driven solutions. 

Key Target Audience for Cognitive Assessment and Training Market

• Government agencies
• VARs
• Independent software vendors
• CROs
• Hospitals
• Healthcare practitioners
• Brain training companies

Scope of the Cognitive Assessment and Training Market Research Report

The research report categorizes the cognitive assessment and training market to forecast the revenues and analyze the trends in each of the following submarkets:

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

On the basis of Regions:

• North America
• Europe
• Asia-Pacific (APAC)
• Middle-East and Africa (MEA)
• Latin America

Critical questions the report answers:

• Where will all these developments take the industry in the mid to long term?
• What are the upcoming industry trends in Cognitive assessment and training market?

Available Customizations

• With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

• Further breakdown of the North American cognitive assessment and training market
• Further breakdown of the European cognitive assessment and training market
• Further breakdown of the APAC cognitive assessment and training market
• Further breakdown of the MEA cognitive assessment and training market
• Further breakdown of the Latin American cognitive assessment and training market

Company Information

• Detailed analysis and profiling of additional market players (up to five)

In addition, early buyers will receive 10% customization on the cognitive assessment and training in healthcare market report or other related reports. Under customization, detailed analysis and profiling of additional market players (up to five) can be provided.

MarketsandMarkets forecasts the cognitive assessment and training market size to grow from USD 1.98 billion in 2016 to USD 8.06 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%. Major factors contributing to the growth of the cognitive assessment and training market include aging global population, increasing awareness for brain fitness, and advancements in technology. These factors will drive the adoption rate of cognitive assessment and training in healthcare in the years to come.

The cognitive assessment and training in healthcare market is segmented by assessment type, component, application, vertical and region. The component segment is further classified into solutions and services. The various solutions are categorized into assessment, data management, project management, data analysis and reporting, and others (including rater training, concussion management and pre-screening solution). These solutions are used to monitor changes in the cognitive function, following the treatment with drugs or other types of interventions. The services include training & support and consulting. Training and support services are expected to grow at the highest growth rate during the forecast period. Cognitive assessment and training solution and service providers offer training and coaching services to deliver balanced cognitive rehabilitation solutions. The coaching and training segment comprises spreading awareness as well as educating the community and professionals about challenges related to brain and mental health.

The applications segment includes clinical trials, classroom learning, brain training, corporate learning, and research (including patient recruitment and patient engagement). The clinical trials application is expected to grow at the highest CAGR during the forecast period. Cognitive assessment solutions are extensively used to improve clinical research and development. Inclusion of computerized cognitive tests in the early phase of clinical trials allow for identification of cognitive changes. Clinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes; such assessments are performed across multiple languages and cultural groups in different clinical and social settings.

The global cognitive assessment and training market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America is expected to have the largest market share and would dominate the cognitive assessment and training in healthcare market from 2016 to 2021, due the growing number of vendors providing cognitive assessment and training in healthcare. The U.S. market holds a majority of the market share in terms of adoption as well as revenue generation in the North America market, due to the increased awareness among population and the growing demand for improving neuroplasticity of brain.

 Clinical trials application is expected to grow at highest CAGR during the forecast period

Cognitive assessment and training solutions help in detecting even subtle signs of cognitive impairment in early stages due to the growing age, neural disorders, and their drug treatments. The cognitive assessment and training market by application broadly comprises the following areas: clinical trials, classroom learning, corporate learning, research, screening & diagnostics, brain training, and others, which include patient recruitment and patient engagement.

Clinical Trials

Cognitive assessment solutions are extensively used to improve clinical research and development. Inclusion of computerized cognitive tests in the early phase of clinical trials allow for identification of cognitive changes. Clinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes; such assessments are performed across multiple languages and cultural groups in different clinical and social settings. These are majorly performed for characterizing and determining the cognitive potential and effect of therapeutic substances as well as for measuring the functional changes with a high degree of sensitivity. The assessment of cognitive function is an integral part of decision-making during clinical drug development, as certain drugs can have an impact on the cognitive capabilities of the brain.

Classroom Learning

Cognitive assessment and training solutions have found application in the education vertical as well; education-related companies such as Pearson Assessments and Houghton Mifflin Harcourt have established a strong foothold across multiple regions for the purpose of providing a range of assessment and learning services. These companies are targeting multiple education institutions (mainly schools and K-12) to provide cognitive assessment and training services. The solution is transforming into an essential segment primarily due to the increasing need for providing a customized teaching methodology for students. The growth is fueled by the heavy rise in acceptance of cognitive assessment and training services.

Corporate Learning

A large range of employers are using cognitive assessment and training exercises for recruitment decisions or for the enhancement of mental performance of their employees. Many corporate professionals, athletes, and military personnel are undergoing such kind of assessments as well as training exercises to address productivity loss and enhance the performance of employees at workplace. According to the U.S. Census Bureau (2015), “non-routine cognitive jobs” comprise more than 55 million jobs in the U.S., accounting for 40% of the workforce, portraying the fact that there is rise in demand for cognitive assessment exercises in corporate learning.

Brain Training

Brain training includes intense and mental cognitive exercises to focus and work on the brain’s core cognitive skills, such as reading, writing, learning, remembering, and reasoning. Increasing awareness for brain health among people has made brain training an attractive exercise that focuses on improving the weak cognitive skills. Many brain training or brain fitness companies are generating profit through this segment. Companies such as Lumosity, Posit Science, Happyneuron, and Brain Metrix are targeting the end-consumers across all age groups to use their web-based brain fitness exercises for reducing the risk of age-related dementia and increasing the overall brain fitness.

Research

The research segment includes scientific research and academic research. Academic research focuses on investigating the underlying cause of diseases; development of new ways to predict, prevent, screen, and diagnose the disease; and find out methods for treating the diseases. Scientific research focuses on the study of intelligent behavior as well as the brain mechanisms and computations underlying that behavior. Several well-known players, such as Cambridge Cognition, Cogstate, and CNS Vital Signs, are supporting a range of ongoing academic and scientific researches by delivering neurocognitive assessment solutions to find out the effects of therapeutics on cognition, throughout a drug study and development process.

Others

Other applications include patient recruitment and patient engagement. Computerized cognitive assessments are vital tools in detecting cognitive impairment, but participants often view them as effortful and unengaging. Patient engagement enables clinical trial sponsors and research organizations to significantly increase patient adherence, retention, and data quality. Organizations are increasingly making use of mobile devices and gamification tools to engage patients in the clinical trial process. Ownership of mobile phones has increased significantly, which has led to the development of mobile health applications. Apps enable collaboration, activation & participation, decision-making ability regarding one’s own health, and better patient engagement. Gamified cognitive training is viewed as enjoyable and engaging by study participants. Gamification can be useful for early prediction of delirium, postoperative hospital wards, and evaluation of recovery from stroke.. Additionally, patient recruitment comprises services provided by patient recruitment service providers. The patients recruited are tested using various cognitive assessment tools to check eligibility for getting admitted as the right patient for clinical trials. Proper recruitment and retention of patients are important for studying any improvement in their cognitive health

Time constraints in developing clinically-validated brain fitness software, negative publicity in the media about brain training efficiency, and stringent government regulations across the globe is restraining the growth of cognitive assessment and brain training market.

The major vendors in the cognitive assessment and training market include 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.), and Brain Resource Company (New South Wales, Australia). The companies adopted various strategies such as new product launches & enhancements, partnerships & agreements, and mergers & acquisitions to cater to the needs of the cognitive assessment and training market.

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