Cognitive assessment and training market Highlights Growth Trends in the Coming Years

Major factors contributing to the growth of the market include aging global population, increasing awareness for brain fitness, and advancements in technology. These factors are expected to drive the adoption rate of cognitive assessment and training in t

(EMAILWIRE.COM, September 20, 2018 ) 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 market include aging global population, increasing awareness for brain fitness, and advancements in technology. These factors are expected to drive the adoption rate of cognitive assessment and training in the coming years.

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The cognitive assessment and training market is segmented by assessment type, component, application, vertical, and region. The components segment is further classified into solutions and services. The various solutions are categorized into assessment, data management, project management, data analysis & reporting, and others (rater training, concussion management, and prescreening solution). These solutions are used to monitor changes in the cognitive function, following the treatment with drugs or other types of interventions. The services segment includes training & support and consulting. Training and support services are expected to grow at the highest CAGR 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 (R&D). Inclusion of computerized cognitive tests in the early phase of clinical trials help in the 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.

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 are restraining the growth of the cognitive assessment and 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 Diagnostics (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.), 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 market.

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