Neurocognitive Assessment And Rehabilitation Market Size, Share & Trends Analysis Report By Component (Neurocognitive Assessment Testing, Neurorehabilitation Therapy), By Providers (Rehab Centers, Hospital And Clinics), By Region, And Segment Forecasts, 2

Neurocognitive Assessment And Rehabilitation Market Size, Share & Trends Analysis Report By Component (Neurocognitive Assessment Testing, Neurorehabilitation Therapy), By Providers (Rehab Centers, Hospital And Clinics), By Region, And Segment Forecasts, 2

Neurocognitive Assessment And Rehabilitation Market Growth & Trends

The global neurocognitive assessment and rehabilitation market is anticipated to reach USD 24.6 billion by 2030 and is anticipated to expand at a CAGR of 8.67% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market's growth can be attributed to the rise in dementia cases globally. With rise in global population and a corresponding increase in the number of people living with dementia, there is a growing need for effective neurocognitive assessment and rehabilitation to help individuals manage their condition and maintain their cognitive function for as long as possible. By 2050, there will be 1 in 6 (16%) people over 65 globally, accounting for an increase from 1 in 11 (9%) in 2019, according to the UN World Population Prospects report.

In addition, dementia is expected to be one of the major neurological diseases globally. According to WHO, around 55 million individuals worldwide have dementia, and more than 60% of them reside in low- and middle-income nations. It is anticipated that this number will increase to 78 million in 2030 and 139 million in 2050 due to the fact that the share of older people in the population is rising in almost every country.

Furthermore, the rising government initiatives in research activities related to neurological disorders are expected to drive market growth. For instance, in November 2021, the UK government announced an investment of USD 470 million over the next 5 years to fund projects to improve the understanding and treatment of various neurodegenerative conditions. The conditions include Motor Neurone Disease (MND), Parkinson’s disease, dementia, and Lewy Body Dementia (LBD).

Neurocognitive Assessment And Rehabilitation Market Report Highlights

• Based on component, the market is divided into neurocognitive assessment testing and neurorehabilitation therapy. The neurorehabilitation therapy segment dominated the market with a revenue share of over 62% in 2023, owing to the high prevalence of neurological disorders, the rising geriatric population, and technological developments in neurorehabilitation devices.
• Based on providers, the market is divided into rehab centers, hospitals and clinics, home care settings, and physiotherapy centers. The rehab centers segment dominated the market in 2023. This is due to the significant advancements in technology that have enabled rehab centers to provide more personalized treatment plans tailored to the unique requirements of each patient.
• North America dominated the neurocognitive assessment and rehabilitation market owing to factors such as a strong emphasis on research & development in the healthcare sector. The region’s robust ecosystem of research institutions, medical universities, and private industry players is expected to foster continuous innovation in neurocognitive technologies.
• In June 2023, Cognetivity Neurosciences collaborated with Clairvo to enhance AI-powered brain health management in Japan and other regions in Asia Pacific. This collaboration is expected to accelerate the adoption of Cognetivity's AI platform and promote brain health awareness in the region.

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