PUBLISHER: The Business Research Company | PRODUCT CODE: 1455413
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455413
Cognitive assessment and training in healthcare encompass processes and programs tailored to evaluate, enhance, and maintain cognitive functions such as memory, attention, problem-solving, and decision-making in individuals. Cognitive training aims to support mental abilities through brain stimulation, leveraging brain plasticity, and increasing cognitive reserve.
The primary components of cognitive assessment and training in healthcare include solutions and services. Cognitive assessment and training solutions in healthcare entail tools and services designed to assess and enhance cognitive abilities in individuals. These solutions play a crucial role given the increasing incidence of cognitive impairment and dementia, alongside growing awareness of cognitive health. The technologies involved encompass pen and paper-based assessments, hosted assessment and training tools, and biometrics utilized for screening and diagnostics, clinical trials, brain training, and other applications.
The cognitive assessment and training in healthcare market research report is one of a series of new reports from The Business Research Company that provides cognitive assessment and training in healthcare market statistics, including cognitive assessment and training in healthcare industry global market size, regional shares, competitors with an cognitive assessment and training in healthcare market share, detailed cognitive assessment and training in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive assessment and training in healthcare industry. This cognitive assessment and training in healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cognitive assessment and training in healthcare market size has grown exponentially in recent years. It will grow from $4.33 billion in 2023 to $5.74 billion in 2024 at a compound annual growth rate (CAGR) of 32.6%. The growth observed during the historic period can be attributed to several factors, including a data explosion and increased complexity, the growing complexity of IT infrastructure, a demand for proactive issue resolution, the adoption of automation for efficiency, and the rise of DevOps practices.
The cognitive assessment and training in healthcare market size is expected to see exponential growth in the next few years. It will grow to $16.21 billion in 2028 at a compound annual growth rate (CAGR) of 29.6%. The projected growth in the forecast period can be attributed to several factors, including integration with AIOps (Artificial Intelligence for IT Operations), hybrid and multi-cloud environments, a focus on explainable AI, enhanced predictive analytics capabilities, and integration with edge computing. Major trends anticipated in the forecast period include advancements in AI and ML (Machine Learning) technologies, a strategic role in digital transformation efforts, the emergence of intent-based networking (IBN), autonomous operations, and the adoption of AIOps for IT operations.
The rise in dementia cases is poised to stimulate the expansion of cognitive assessment and training within the healthcare sector. Dementia encompasses a range of neurological disorders marked by a decline in cognitive functions such as memory, problem-solving, and language skills. Cognitive assessment tools play a crucial role in identifying early signs of cognitive decline associated with dementia, aiding in disease monitoring and treatment adjustment over time. For example, Alzheimer's Research UK projected in June 2023 that the UK would see a significant increase in dementia cases, with over 1.2 million individuals affected by 2040, representing a 30% rise from 2022 figures. Hence, the uptick in dementia cases is set to boost the demand for cognitive assessment and training in healthcare.
Leading companies in the cognitive assessment and training sector within healthcare are prioritizing the development of innovative products integrating advanced technologies such as artificial intelligence (AI) to enhance assessment accuracy and personalize training programs. AI-powered cognitive assessment tools are instrumental in offering tailored insights and training regimens, thereby optimizing cognitive health outcomes for individuals. For instance, Cognetivity Neurosciences Ltd. introduced CognICA in February 2023, a brain health screening platform leveraging AI and machine learning techniques for comprehensive brain health assessment and monitoring across medical, commercial, and consumer domains. This platform enables early cognitive impairment detection, facilitating timely interventions and long-term treatment management.
In March 2022, Linus Health, a US-based digital health firm dedicated to improving brain health, acquired Kinesis Health Technologies Ltd., an Ireland-based company specializing in physical and cognitive assessment solutions within healthcare. This acquisition aims to expand Linus Health's capabilities into the physical function assessment domain and create a more comprehensive health assessment platform, integrating both physical and cognitive assessments.
Major companies operating in the cognitive assessment and training in healthcare market report are Signant Health Private Limited, Clario Inc., WIRB-Copernicus Group, WIRB-Copernicus Group, Tecsys Inc., Cognitivescale, Cogstate Ltd., Cognetivity Neurosciences Ltd., MedAvante Inc., Terso Solutions Inc., CogniFit Inc., Akili Inc., BrainScope Company Inc., Cambridge Cognition Ltd., Quest Diagnostics Incorporated, NeuroNation, Wysa Ltd., Brain Resource Company, CNS Vital Signs LLC, Brackets Inc., Happify Inc., Pear Therapeutics Inc., Total Brain Ltd., Fit Brains Ltd., Posit Science Corporation, Epicor Software Corporation
North America was the largest region in the cognitive assessment and training in the healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive assessment and training in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cognitive assessment and training in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The cognitive assessment and training in healthcare market consist of revenues earned by entities by providing cognitive assessment services, neuropsychological testing, cognitive rehabilitation services, and memory enhancement programs that help diagnose, treat, and enhance cognitive functions for individuals in healthcare settings. The market value includes the value of related goods sold by the service provider or included within the service offering. The cognitive assessment and training in the healthcare market also include sales of mobile applications, virtual reality, and augmented reality systems, and e-health platforms that are used in providing solutions for enhancing cognitive functions and the overall well-being of individuals. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cognitive Assessment And Training In Healthcare Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cognitive assessment and training in healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cognitive assessment and training in healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cognitive assessment and training in healthcare market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.