Market Leaders - Cognitive Assessment and Training in Healthcare Market
The risk of depression, cognitive impairment, and dementia is increasing in seniors, adults, and even in children. Life expectancy has increased dramatically over the last few decades. It has been estimated that soon the number of people aged 65 years or above will outnumber children aged under five years. This will lead to a growing number of dementia cases, such as Alzheimer’s disease and delirium. With the growing frequency of dementia cases, the demand for its early identification is also increasing. Numerous tools and brain training programs have been implemented to manage these diseases and disorders. MarketsandMarkets forecasts the global cognitive assessment and training in healthcare market to grow from USD 962.0 Million in 2016 to USD 4,127.2 Million by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 33.8% during the forecast period
The cognitive assessment and training in healthcare market has been segmented into assessment types, components, applications, and regions. The component segment is further divided into solutions and services. The solutions subsegment consists of assessment, data management, project management, data analysis, and others, which includes rater training and prescreening solution. The services subsegment includes training and support, and maintenance. Among components, services are expected to grow at the high CAGR.
The assessment types for which cognitive assessment and training in healthcare are provided include biometric, pen-and-paper based, and hosted assessments. Biometrics assessment is estimated to grow at the highest CAGR during the forecast period, as it enables end users to better understand and manage day-to-day brain health by accurately measuring biological and psychological factors affecting cognitive performance, more frequently.
The cognitive assessment and training in healthcare market has been segmented by solution into assessment, data management, project management, data analysis, and others (including rater training and prescreening solution). Data management is expected to grow at the highest CAGR during the forecast period, as it provides efficient data storage and ongoing management for data discrepancies. It offers instant access to researchers and clinicians for efficient review.
North America is expected to have the largest market share and dominate the cognitive assessment and training in healthcare market, due to the increasing awareness among population, which is open towards adopting medication for cognitive diseases. The new generation in this region is more aware of cognitive brain training and its benefits, which are not just limited to patients with cognitive dysfunctions. Asia-Pacific (APAC) offers potential growth opportunities, as the population in the region is inclined towards adopting a healthier lifestyle. Hence, the concerns regarding cognitive diseases are also growing among the masses. Furthermore, the increasing need for monitoring cognitive functions due to the increasing number of neurodegenerative issues will lead to better opportunities and faster market growth in future.
Related Reports:
Cognitive Assessment and Training in Healthcare Market by Assessment Type (Pen-and-Paper Based, Hosted, and Biometrics), Components, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), & Region - Global forecast to 2021
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