Cognitive Assessment and Education in Healthcare Market Share, Size, Industry Analysis, Demand, Growth and Research Report 2026 – KhelPanda
The growing geriatric population, technological advancements in the healthcare industry, and growing awareness of mental health are some of the factors that are boosting cognitive assessment and training in the healthcare market.
Market Size – $ 1.71 Billion in 2018, Market Growth – 32.6% CAGR, Market Trends – The growing demand for computerized cognitive assessment.
The Global Cognitive assessment and training [CA&T] in the healthcare market is expected to reach $ 16.45 billion by 2026, according to a new report from Reports and Data. The market is expected to experience significant growth during the forecast period. Growing awareness of mental health and its overall impact on an individual’s well-being is integral to the growth of the market. Various other factors are driving the growth of the market. One of these mentionable factors is that since 2016 various companies providing cognitive training services and products have come to the fore and market their services and products to be able to improve memory in adults, prevent Alzheimer’s disease and dementia. In 2017, evidence of moderate strength was found by the National Academies of Sciences, Engineering, and Medicine which indicated that cognitive training has a positive impact on the prevention of dementia and cognitive decline with age. . In 2018, cognitive training was incorporated into the American Academy of Neurology’s Guidelines for the Treatment of Mild Cognitive Impairment. The association between this positive evidence of cognitive training and prevention of cognitive impairment has the effect of propelling the market growth. Cognitive interventions can be grouped into three types: cognitive stimulation, cognitive rehabilitation and cognitive training. In cognitive training, the intervention is made in a care user’s plan of care, where he / she is provided with a structured practice on tasks related to cognitive functioning problems that have a direct impact on cognitive impairment. Thus, with the help of these interventions, the progression of cognitive disorders like dementia can be prevented. As far as the region is concerned, Europe has a full market share. It is attributed to the continued increase in the geriatric population, increased investment in health research and innovation.
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Other key findings from the report suggest
- The CA&T in Healthcare market held a market share of USD 1.71 billion in 2018 and is expected to experience a CAGR of 32.6% during the forecast period.
- In the context of Component, the Solutions segment generated higher revenue of $ 1,043.5 million in 2018, with a growth rate of 32.0% during the forecast period. The revenues generated by the Solutions segment are the result of an increasing demand for healthcare support and solutions by which, cognitive functioning and changes can be assessed, and its benefits such as access to services. home care.
- In the assessment type, the pen and paper based assessments segment can generate the highest revenue of $ 855.4 million in 2018, with a CAGR of 32.8% during the period forecast. The wide application of this type of assessment, as it is one of the practical ways to measure cognitive changes and decline and this type of assessment is the standardized method of cognitive assessment in various health organizations , contributes to the revenues generated by this segment.
- In application, the clinical trials segment occupied the largest market share of 38.0% in 2018, with a CAGR of 32.5% during the forecast period. When determining the clinical development of the drug, the assessment of cognitive functioning plays an essential role that can be effectively performed by clinical trials, which contributes to the market share occupied by this segment. It is with the help of clinical trials that cognitive changes and impairments can primarily be measured, monitored or identified.
- As for the region, Asia-Pacific is expected to experience the fastest growth rate of 34.0% during the forecast period, which occupied a market share of 23.0% in 2018. Awareness Growing mental health in developing regions and growing body of ongoing research conducted on cognitive functioning are some of the factors propelling the market growth in this region.
- Key Participants Bracket, Cambridge Cognition Ltd., Quest Diagnostics, Medavante Inc., Neurocog Trials, Cogstate Ltd., Prophase, LLC, ERT Clinical, Cognifit and Brain Resource Company.
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For the purpose of this report, the overall cognitive assessment and education in the healthcare market has been segmented on the basis of component, assessment type, application, and region:
Outlook Component Type (Revenue, USD Million; 2020-2026)
Assessment Type Outlook (Revenue, USD Million; 2020-2026)
- Biometric evaluation
- Pen and paper based assessment
- Computerized cognitive assessment
Outlook Application Type (Revenue, USD Million; 2020-2026)
- Screening and diagnosis
- Clinical tests
- Academic research
- Brain training
Regional Outlook (Revenue, USD Million; 2020-2026)
- North America
- Asia Pacific
- Latin America
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Benefits of Cognitive Assessment and Training in Healthcare Market Report:
- In-depth understanding of the market size, market share, and market scope of the Cognitive Assessment and Training in Healthcare Market
- Easy identification of growth opportunities and key product development strategies
- Historical and forecast data for Cognitive Assessment and Training in Healthcare market to facilitate the decision-making process
- Production and consumption ratio, import / export data and company position in the market explained in detail with graphs and tables to aid in decision making
- Strategic recommendations to established players and new entrants to gain a solid foothold in the market
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