Global Cognitive Assessment & Training In Healthcare Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Cognitive Assessment & Training in Healthcare Market is estimated to be USD 5.59 Bn in 2023 and is expected to reach USD 18.64 Bn by 2028 growing at a CAGR of 27.24%.

The increasing demand for online cognitive assessment and training solutions reflects the growing recognition of the importance of cognitive health. As people become more aware of cognitive well-being and its role in overall health, there is a rising interest in tools and programs that can assess and enhance cognitive functions. This demand is further fueled by the convenience and accessibility of online platforms, allowing individuals to engage in cognitive training at their own pace and from the comfort of their homes. For providers of such solutions, this driver presents a significant market opportunity to meet the evolving needs of a tech-savvy and health-conscious population.

The global population is aging, and this demographic shift profoundly impacts healthcare. With a growing geriatric population, there is an increased incidence of age-related cognitive decline and neurodegenerative disorders such as Alzheimer's disease. This demographic change is a substantial driver for the cognitive assessment and training market as healthcare professionals seek effective tools to assess cognitive health in the elderly and provide interventions to maintain or improve cognitive function. The market, therefore, benefits from the aging population's higher healthcare needs and their desire to maintain cognitive vitality as they age.

Regulatory challenges and the absence of standardized cognitive assessment and training protocols are significant restraints in this market. The healthcare sector is subject to strict regulatory oversight to ensure the safety and efficacy of medical devices and procedures. The lack of standardized assessment and training methodologies can lead to inconsistencies in results, making it challenging for healthcare providers to compare and interpret data. Moreover, regulatory compliance is essential when dealing with sensitive cognitive data, which may involve personal health information. Overcoming these hurdles requires significant effort, resources, and collaboration between healthcare stakeholders, policymakers, and technology developers. Standardization is crucial for the market to reach its full potential and for patients to trust the accuracy and reliability of cognitive assessment and training solutions.

Market Segmentations

• The Global Cognitive Assessment & Training In Healthcare Market is segmented by Component, Assessment, Application, and Geography.
• The component segment is further classified into solutions and services. The various solutions are categorized into assessment, data management, project management, data analysis and reporting, and others (including rater training and prescreening solutions). Among these, the assessment solution is expected to grow at the highest CAGR, as these solutions give convenient accessibility at home and do not require physician consulting.
• These solutions are used to monitor changes in cognitive function, following the treatment with drugs or other interventions. The services include training & support and consulting. Training and support services are expected to grow at the highest rate during the forecast period. Cognitive assessment and training solutions and service providers offer training and coaching services to deliver balanced cognitive rehabilitation solutions. The coaching and training segment comprises spreading awareness and educating the community and professionals about brain and mental health challenges.
• The applications segment includes clinical trials, screening & diagnostic, brain training, and academic research (including patient recruitment and engagement). The screening and diagnostic application is expected to grow at the second highest CAGR during the forecast period. Screening tests are used for the detection of cognitive impairment. Early detection of cognitive disorders enables patients to take timely action and access the available drug and non-drug treatments that may improve cognition. In contrast, diagnostic tests are performed when there are symptoms/signs that suggest conditions are present for cognitive impairment, and a test is needed for diagnosis confirmation.

Recent Development

• Clario announced its partnership with technology startup ArtiQ to increase chances in respiratory clinical trials that need spirometry data.- March 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Akili Interactive Labs, BrainHQ (Posit Science), Cambridge Cognition, CogniFit, Cognivue, Cognixion, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Cognitive Assessment & Training in Healthcare Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Cognitive Assessment & Training in Healthcare Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Cognitive Assessment & Training in Healthcare Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market