Cognitive Assessment and Training Market Size, Share & Segmentation by Component (Solution and Services), by Assessment Type (Hosted Assessment, Biometric Assessment, Pen & Paper Based Assessment), by Application (Clinical Trials, Classroom Learning, Brain Training, Corporate Learning, Research, Others), by Industry Vertical (BFSI, Retail, IT and Telecom, Education, Healthcare, Others), by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

Cognitive Assessment and Training Market size was valued at USD 5.66 Bn in 2022 and is expected to reach USD 40.57 Bn by 2030, and grow at a CAGR of 27.9% over the forecast period 2023-2030.

Cognitive Assessment and training are a method of determining IQ (intellectual level), perceptual ability, verbal and nonverbal skills, as well as other factors. It is a method of assessing an individual's brain functions and pace of information processing on a regular basis. It is also the mental process of obtaining information and understanding via experience and observation. Cognitive testing is useful for a variety of purposes, including early identification of dementia in the general population, individual cognitive training, sports management, and so on. The utilization of cognitive evaluation in-home care is a major market trend for people who have had a small stroke. Several methods are used to identify individuals who may require further screening, and these exams are now widely employed by corporations as part of the recruiting process. This method is used to assess a candidate's skill and appropriateness for a certain function, as well as predict future performance. Individual psychological education, self-management, and sports management are all expected to be among the benefits of these methods.

MARKET DYNAMICS:

KEY DRIVERS:

• Serious gaming and gamification assist people in making beneficial health behavioral adjustments.

• The use of gamification in the healthcare industry has exploded.

• Various industries, such as corporate and education, have reaped the benefits of gamification's potential.

RESTRAINTS:

• Companies must get clinical approval before releasing goods for human use.

• The development of these solutions takes a long period.

OPPORTUNITY:

• Smartphones and tablets are increasingly being used to gather Clinician-Reported Outcome measurements throughout the world.

• Physicians and institutions are increasingly requesting remote access to patient databases.

IMPACT OF COVID-19:

Businesses that provide cognitive testing and training solutions and services are projected to see a temporary slowdown in their growth. However, greater use of cognitive assessment and training solutions is projected to be driven by work-from-home efforts, eLearning, and eHealth, and the market is expected to see a minor dip in 2020, followed by positive growth. As a number of neurologic symptoms have been documented in persons suffering from COVID-19, tracking cognitive capacities is becoming increasingly critical. Businesses across a wide range of industries are aiming to use a variety of cognitive evaluation and training solutions to conduct assessments, track, and enhance brain health. The industry is seeing substantial expansion as a result of the increased focus on mental health and the potential of cognitive evaluation and training solutions to be used remotely.

MARKET ESTIMATION:

Based on components, the market is split into Solutions and Services. In 2021, solutions had the greatest market share, and it is expected to increase at the fastest CAGR over the forecast period. Data management, task management, data evaluation & reporting, cognitive assessment, cognitive training, Rater training, and others make up the solution section. Because of the growing awareness of cognitive exams, training, and data evaluation in schools and colleges, the business sector, and the healthcare industry, this phase is moving quickly. Cognitive training, often known as brain training, entails engaging in activities aimed at improving one or more cognitive abilities, or the mental techniques our brains use to think and learn. Some cognitive training programs concentrate on cognitive character qualities, while others are more comprehensive and integrated. Cognitive evaluation is beneficial for a variety of purposes, including early identification of dementia in the general population, individual cognitive training, and sports activity management, among others.

The market is divided into three types: pen-and-paper-based assessment, hosted assessment, and biometrics assessment. The greatest market share was held by hosted assessment, which is expected to increase at the fastest CAGR during the forecast period. Host assessment is typically prohibitively expensive in terms of time; hence it is reserved for the evaluation of critical systems. The host-based vulnerability analysis uses a server-based client, which replicates the scan and provides the document to the server/administrator. Host assessment tools were among the earliest proactive security tools accessible to system administrators, and they are being used today. These tools necessitate the installation of the evaluation software application on each machine we need to evaluate.

Clinical Trials, Brain Training, Classroom Learning, Corporate Learning, Research, and Others are the many types of applications in the market. Clinical Trials had the greatest market share and are expected to increase at the fastest rate throughout the forecast period. Clinical trials are large-scale research investigations that evaluate innovative tests and treatments and their influence on human fitness outcomes. Individuals willingly participate in clinical trials in order to evaluate therapeutic treatments such as medications, medical technologies, and various biological products. Clinical trials are conducted on four levels and must be approved before they can begin.

The market for cognitive assessment and training is divided into verticals. Healthcare and life sciences, education, corporate, and other sectors are among them (sports, government, and defense). During the projection period, the healthcare and life sciences sector is predicted to have the biggest market share. Cognitive evaluation is used by healthcare and life sciences organizations to evaluate persons with mental or cognitive problems, and it is also used to identify and treat dementia. Early infancy or late adulthood can induce cognitive decline. Cognitive difficulties can also be caused by advanced age and illnesses such as dementia, stroke, substance misuse, and alcohol usage. Infections and brain/head injuries can cause disability at any age.

KEY SEGMENTS:

On The Basis of Component:

• Solution

• Services

On The Basis of Assessment Type:

• Hosted Assessment

• Biometric Assessment

• Pen & Paper Based Assessment

On The Basis of Application:

• Clinical Trials

• Classroom Learning

• Brain Training

• Corporate Learning

• Research

• Others

On The Basis of Industry Vertical:

• BFSI

• Retail 

• IT and Telecom

• Education

• Healthcare

• Others

REGIONAL ANALYSIS:

In the worldwide cognitive assessment and training market, North America is predicted to have the greatest market size, while Asia Pacific (APAC) is expected to develop at the fastest CAGR during the forecast period. The adoption of cognitive evaluation and training solutions and services is likely to be fueled by a growing awareness of mental health and cognitive abilities in important nations such as China, India, and Japan. The need for cognitive assessment and training solutions in key sectors such as healthcare and life sciences, education, and business is predicted to rise as a result of technological improvements and digitalization in these nations.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players are Cambridge Cognition Ltd., Cogstate Ltd., MedAvante, Inc., ProPhase, LLC, Neurocog Trials, Inc., Medavante, Inc., Quest Diagnostics, Inc., ProPhase, LLC, Eresearchtechnology Inc., Gompf Brackets, Inc.

Frequently Asked Questions (FAQ) :