Cognitive Assessment and Training in Healthcare Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Cognitive Assessment and Training in Healthcare Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Cognitive Assessment and Training in Healthcare Market

The cognitive assessment and training in healthcare market size was valued at USD 3.90 billion in 2022, and the market is now projected to grow from USD 4.95 billion in 2023 to USD 29.74 billion by 2030, exhibiting a CAGR of 53.58% during the forecast period of 2023-2030.

The COVID-19 pandemic speeds things up for the virtual clinical trials in the cognitive assessment and training market growth in healthcare because they became super important for vaccine development. At first, clinical trials took a hit, but then in the second half of 2020, they bounced back big time by going virtual. Virtual clinical trials were a big thing for cognitive assessment during the pandemic. This move assisted in the adoption of RPM and raised the need for online cognitive assessment rendering the market more recognizable and available for increased growth.

The need for cognition assessment has been made even greater by the availability of Alzheimer-style neurological disorders in clinical trials. Currently, there are 172 trials as of January 2022 with 143 drug candidates specifying a change in their cognition. Rising consciousness towards neurological disorders and their higher occurrence has also facilitated the usage of these tests, motivating cognitive assessment and training market share.

Moreover, with the emergence of virtual clinical trials due to the pandemic recently observed, cognitive assessment and training are growing in demand in healthcare. These trials, also, known as decentralized trials, use telemonitoring and digital applications to evaluate cognitive performance. They eliminate geographical barriers, allowing for more flexible patient participation. Digital cognitive assessments enable convenient remote monitoring, enhancing patient awareness and contributing to market growth.

Comprehensive Analysis of Cognitive Assessment and Training in Healthcare Market

The healthcare market for cognitive assessment and training is rapidly growing, driven by its segmented approach. Regional assessments are detailed, taking into account the influential supply and demand factors within the pharmacy benefit management sector. Segmentation is meticulous, focusing on assessment types and applications. The assessment types include, Pen and Paper, Biometrics, and Hosted. However, the applications include, Screening and Diagnostics, Clinical Trials, Brain Training, and Others.

In 2022, North America led the market, generating USD 2.09 billion in revenue, driven by rising cognitive disorder rates. Initiatives such as the U.S. government's Cognitive Assessment & Care Plan Services further propel regional growth, offering Medicare coverage of up to USD 266 for cognitive function tests.

Key market players significantly influence healthcare industry growth and establish market standards, ensuring industrial prospects advance. These players include, Cambridge Cognition Ltd (U.K.), CogniFit Inc. (U.S.), Cogstate Ltd. (Australia), CNS Vital Signs, LLC. (U.S.), WIRB-Copernicus Group (U.S.), Signant Health (U.S.), Posit Science (U.S.), Clario (U.S.) and Cognetivity Neurosciences (Canada).

In March 2023, Clario revealed a collaboration with the technology startup ArtiQ, aimed at enhancing opportunities in respiratory clinical trials requiring spirometry data.

Segmentation Table

GlobalCognitive Assessment and Training in Healthcare Market Scope

Study Period 2019-2030

Base Year 2022

Forecast Period 2023-2030

Growth Rate CAGR of 29.2%

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Assessment Type, Application, and Region

By Assessment Type Pen and Paper

Biometrics

Hosted

By Application Screening and Diagnostics

Clinical Trials

Brain Training Others

By Region North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)

Rest of the World


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