The global cognitive assessment and training market size is expected to reach USD 15.65 Billion at a steady CAGR of 20.3% in 2028, according to latest analysis by Emergen Research. Increasing awareness regarding the advantages of maintaining good brain fitness is among some of the key factors driving growth of the cognitive assessment and training market. Cognitive assessment and training is not limited to adults, and is also a tool for use with children with learning disabilities such as dyslexia. Cognitive assessment and training tools have been in use for older individuals among the population suffering from vision and dementia problems.
Rising popularity of gamification is propelling growth of the market to a significant extent. Feedback on gamification from candidates, employers, and psychologists has been very positive and game features are being incorporated into cognitive tasks without undermining data quality, scientific value, and intervention effects, thereby improving participant engagement. Game-based assessments such as psychometric tests are used in the hiring process to assess a candidate’s skills. However, unlike various aptitude tests, these assessments are quick and engaging due to the game format.
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Competitive Outlook:
The global Cognitive Assessment and Training market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Cognitive Assessment and Training market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers acquisitions, new product launches, and joint ventures.
Some players analyzed in the report are:
Quest Diagnostics, BrainWare, MeritTrac, Cambridge Cognition, Pearson, MedAvante-ProPhase, Cogstate, Winterlight Labs, Philips, and Signant Health.
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Emergen Research has segmented the global cognitive assessment and training market on the basis of component, organization size, application, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Solutions
Assessment
Data Management
Data Analysis and Reporting
Cognitive Training
Others (Rater Training, Concussion Management, and Screening Solutions)
Services
Training and Support
Consulting
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
Large Enterprises
Small and Medium-sized Enterprises (SMEs)
Application Outlook (Revenue, USD Billion; 2018–2028)
Clinical Trials
Learning
Research
Others (Diagnostics, Recruitment and Patient Engagement)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Healthcare and Life Sciences
Education
Corporate
Others (Sports and Government Defense)
Key Highlights of Report
In February 2021, Shift Concussion Management Guelph and VoxNeuro announced their entering into partnership, which enabled the addition of objective brain health data to the former’s concussion management program.
Shift Concussion Management Guelph, which is the founder of ‘Shift Concussion Management Program’, joined VoxNeuro’s growing clinical network as a test center and treatment provider in Southern Ontario, Canada. VoxNeuro provides the world’s first objective brain health assessment that goes beyond a diagnosis.
Among the application segments, the clinical trials segment accounted for largest share in 2020. Identification and assessment of cognitive changes and ability to diagnose and reduce the chance of developing brain disease in a patient are features that are resulting in development of new solutions and programs and driving revenue growth of this segment.
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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.
Valuable Market Insights:
The report highlights the latest trends observed in the consumption pattern of each regional segment.
Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Cognitive Assessment and Training market.
The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
Questions addressed in the report:
What is the estimated market growth rate throughout the forecast period?
Which end-use industry is expected to witness the highest demand for Cognitive Assessment and Training in the near future?
What is the regulatory framework governing the application of Cognitive Assessment and Training in the food industry?
Which manufacturing processes are utilized for the production of Cognitive Assessment and Training?
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