The increasing geriatric population is driving the cognitive assessment and training market.
Globally, the cognitive assessment and training market is expected to grow at a CAGR of 32.0% during the forecast period from 2019 to 2027, up from US$ 3.42 billion in 2018. This market growth is attributed to the increasing elderly population across the globe. The population aged more than 60 years is growing rapidly worldwide. In 2015, more than 600 million people across the globe were older than 60 years, and it is estimated that this number will cross the 2 billion mark by 2050.
The sudden increase in the life expectancy rate and the sudden decline in the infertility rate is driving the growth of the geriatric population. This is accelerating the demand for the cognitive assessment and training market. Furthermore, the increasing awareness of fitness and health is accelerating the adoption of the cognitive assessment market. Additionally, the technological advancement in assessment and training tools is propelling the market growth.
Market Synopsis
The healthcare sector is dominating the cognitive assessment and training market
The healthcare sector is the leading sector in the cognitive assessment and training market, with the majority share of revenue in 2018. The increasing adoption of cognitive assessment and training tools in clinical trials to assess the psychological functionality of individuals is driving the growth of this market. Furthermore, the technology has been widely used in the healthcare sector for the early detection of dementia and Alzheimer's disease, augmenting the market's demand. Additionally, the increasing prevalence of Alzheimer's disease across the globe is presenting a huge opportunity for the growth of the market.
North America is leading the cognitive assessment and training market.
North America is leading the cognitive assessment and training market with over 40% of the revenue in 2018. The growing prevalence of Alzheimer's disease in the region is the primary factor driving the growth of the market. Furthermore, the growing geriatric population across the region also acts as a major driver for the growth of the market in the region. Additionally, the presence of the major market players in the region, such as Cogstate and Medavante, is supporting market growth in the region.
The key players in the cognitive assessment and training market are Bracket Global, Brain Resource Ltd., Cambridge Cognition Ltd., CNS Vital Signs LLC, Cognifit, Cogstate Ltd., CRF Health, ERT Clinical, IntelliTools Inc., Lumos Labs, Medavante Inc., Neurocog Trails Inc., Pearson Assessments, Posit Science Corp., and Quest Diagnostics.
Historical and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The cognitive assessment and training market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global cognitive assessment and training market based on assessment type, component, application, end-user, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of cognitive assessment and training in 2018, and what is the forecast up to 2027?
Which is the largest regional market for cognitive assessment and training?
What are the major trends followed in the cognitive assessment and training market across different regions?
Who are the key companies in the cognitive assessment and training market?
What are the key strategies adopted by the leading cognitive assessment and training companies on the market?
Unique data points of this report
Statistics on cognitive assessment and training and spending worldwide
Recent trends across different regions in terms of the adoption of cognitive assessment and training for industries
Notable developments are going on in the industry.
Attractive investment propositions for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Question:
The market for Cognitive Assessment and Training Market is expected to reach USD$ 3.42 Bn in 2027.
The Cognitive Assessment and Training Market is expected to see significant CAGR growth over the coming years, at 32.0%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Brain Resource Ltd., Cambridge Cognition Ltd., CNS Vital Signs LLC, Cognifit, Cogstate Ltd., are some of the major players in the global market.
