Cognitive assessment & training market as vividly recalled is the disease termed dementia, affecting the geriatric population across the globe and disabilities such as learning difficulties termed dyslexia affecting children. Increasing healthcare expenditure and expanding R&D efforts in the market is increasing the scope of the market. According to WHO, the number of people suffering from dementia around the world is 55 million. This is reason enough to drive the demand for cognitive assessment & training market. Dementia comes with age and is suggestive of a consistent decline in cognitive abilities and neurological abilities of a patient.
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Drivers
E-Learning And Its Usage Is Expected To Fuel The Cognitive Assessment And Training Market
The delivery of learning via computers or e-learning has increased substantially causing the cognitive assessment & training market to rise. The global e-learning industry grew by leaps and bounds to USD 200 billion in 2020.
Furthermore, the high mortality rate of individuals suffering from dementia is another factor driving profitable growth. Rise in dementia fatality induces another reason for the growth of the industry with cognitive assessment & training market. With this, a trending rise in investments in development of cognitive assessments software comes into practice.
In retrospection, the adoption of electronic devices in data collection coupled with prolific digitization in healthcare industries are factors inviting growth for cognitive assessment & training market.
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Resurging applications in end-user IT and healthcare environs are dragging the market to high growth over the forecast period.
This has laid the market for cognitive assessment & training market to an historical high of USD 2.2 billion in 2022. Income generated from the industry equals 70% of the global market. This also has given healthcare industry cause to grow portraying a 20% CAGR. Mobile and tablet based cognitive assessment, thanks to their abundant use, are also in contention to rake up a 3/5th revenue for the market segment. South Asia and Oceania to augment at a rising CAGR of 18% from 2022 to 2030.
There are many ways which alleviate the destabilizing effects of cognitive disorders. One is called gamification which employs the gaming skills in bringing to life mundane routines that would otherwise remain as a sullen market. The gaming extension also provides motivational and cognitive assertions.
Increasing levels of literacy and competition to cope with, amongst school-going and college-going students has also proved to be a colossal factor increasing the cognitive assessment market. The industry flush with funds can also introduce cognitive devices able to provide effective logical reasoning tests and other logical reasoning texts.
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Segmentation
By Application
Clinical research segment driving on back of cognitive assessment devices
By application, the market is classified into clinical trials, learning and research. The clinical research segment has the most concretely growing industry owing to a host of clinical assessment devices to be added in the clinical healthcare industry segment. Cognitive assessment devices are the first line of defense in the identification stage in an individual. They have a clutch of clinical assessment devices that gives signs of disorders such as episodic and working memory and others. They are adept to focus on rapidly deteriorating diseases of the brain such as Alzheimer’s which is primarily responsible for 60-80% of cases of dementia. The learning segment was highest in the preceding year and rising awareness amongst students, parents and educational fraternity is propelling growth of the industry.
By Region
North America comes forward as most significant region in cognitive assessment & training market
North America is portraying the most significant market accounting for 40% of total market figures. Prominent amongst these are startups and global players with a consequential rise in dementia and growing geriatric population in the US. High Consumer disposable incomes will retain growth in the industry with more than 18% share in the region as projected in the forecast period.
Key Developments:
· In Sept 2022, CogniFit Launches Innovative Brain Training Video Coaching Program
· In Nov 2019, Launching of cognitive training in Ain-Shams University was underway among Egyptian adults.
Key Players
Key players include Pearson Assessment, CNS Vital Signs, Bracket Global, Brain Resource, Posit Science, Cognifit, Cambridge Cognition and Cogstate
TOC:
Global Cognitive Assessment & Training Market Growth, Trend and Forecast 2022-2027
Chapter 1 Cognitive Assessment & Training Market Overview
1.1 Product Overview and Scope of Cognitive Assessment & Training
1.2 Cognitive Assessment & Training Market Segmentation by Applications
1.2.1 Clinical Trials
1.2.2 Learning
1.2.3 Research
1.3 Cognitive Assessment & Training Market Segmentation by Vertical
1.3.1 Education
1.3.2 Corporate
1.3.3 Healthcare and Life Sciences
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