Cognitive Assessment and Training Market Assessment By Component (Software, Services (Training, Consulting, Support & Maintenance)), By Type (Personal Computer, Mobile & Tablet), By End User (Healthcare, Research Organization, Education) and Region- 2022-2032

Cognitive Assessment and Training Market Outlook (2022-2032)

The global cognitive assessment and training market is forecast to be valued at US$ 2.04 Bn in 2022, representing a year-on-year expansion rate of 16.5% from 2021. The market is projected to be valued at US$ 9.4 Bn by the end of the 2022-2032 assessment period.

With the industry shifting toward electronic data collection, guidelines are being created on the recommended approach for establishing a similarity between the electronic version of a clinician-administered measure and the paper version. The industry is slated to experience over 4x growth in the coming decade.

Demand Analysis of Cognitive Assessment and Training Market 2017-2021 vs. Future Outlook 2022-2032

According to analysis put forth by Fact.MR- a market research and competitive intelligence provider- demand for cognitive assessment and training experienced a substantial increase, registering a CAGR of 16% from 2017 to 2021. Adoption of electronic devices for collecting clinical electronic data coupled with increasing digitization in healthcare sector has given a huge momentum to growth of global cognitive assessment & training market over the historical years.

During the COVID-19 pandemic, the adoption of work from home initiatives, eLearning, and eHealth majorly sustained demand for cognitive assessment and training solutions. Tracking cognitive abilities has become an important assessment exercise for healthcare professionals, given the adverse psychological impact patients have experienced post-infection.

Advancements in IT systems and healthcare technologies plays an important role in fueling growth of cognitive assessment solutions in many of the developed and developing countries. From 2022 to 2032, Fact.MR expects the market for cognitive assessment and training to experience a CAGR of 16.5%.

Rising Adoption of Gamification for Cognitive Assessment Fueling Prospects?

Gamification and serious gaming help people induce positive health behavioral changes. Gamification is a relatively new trend that focuses on applying game mechanics to non-game contexts for engaging audiences and adding a little fun into mundane activities besides generating motivational and cognitive benefits. Various fields, such as the corporate sector and education, have leveraged the potential of gamification.

The healthcare domain has seen a rapid ascent in the adoption of gamification and serious games in health self-monitoring and management. The ability of serious games to motivate, engage, and entertain as well as offer numerous systematic reviews prove effective in promoting particular health behavioral changes and reducing a broad range of disorder-related symptoms.

Corporate gamification is also gaining traction in the market. Gamification is used to enhance the digital experience, increase collaboration, or engage and motivate employees to participate in initiatives that are strategically important to companies.

Burgeoning Need for Technological Advancements in the Healthcare Industry during COVID-19 Encouraging Adoption

The usage of smartphones and tablets to collect Clinician-Reported Outcome (ClinRO) measures are rapidly increasing worldwide. With the industry shifting toward electronic data collection, guidelines are being created on the recommended approach for establishing a similarity between the electronic version of a clinician-administered measure and the paper version.

Moreover, the adoption of mobile technologies in cognitive assessment and clinical research for patient recruitment, data collection, symptom monitoring, and health management are in huge demand with the outbreak of the COVID-19 pandemic. Patients need better mental treatment, and to improve patient compliance, patient care, patient safety, and patient satisfaction, the adoption of mobile applications and IT systems is increasing in hospitals and healthcare centers.

Also, the increasing demand from physicians and hospitals to access patient databases remotely is projected to support the growing adoption of mobile applications and IT systems in healthcare organizations.

Country-wise Analysis

How is North America Performing in the Cognitive Assessment and Training Landscape?

North America is the most important regional market, accounting for 42% of total market value. Start-ups and prominent market players can be found in developed countries such as the United States. Because of the rapidly growing global geriatric population and the number of dementia patients, the U.S. will account for the largest revenue share in 2020. 

When combined with high consumer disposable income, the region will maintain its share-wide dominance with a CAGR of more than 15% during the projection period. The United States government has made significant investments in the research and development of solutions for mental diseases and conditions, which is fueling market growth.

How attractive is the Market Likely in the Asia-Pacific?

Regions in the Asia Pacific, namely, East Asia and South Asia & Oceania present the most remunerative opportunities from six major regions. East Asia will grow at 16% CAGR and South Asia & Oceania will grow at 19% CAGR from 2022 to 2032.

Booming digital economies in these regions, such as India and China, are driving rapid growth. Mobile health technology advancements have emerged as a natural extension of the new generation of healthcare systems and IT solutions. These factors are driving the expansion of the cognitive assessment and training markets in these regions.

Category-wise Insights

Will the Healthcare Segment witness High Uptake of Cognitive Assessment and Training?

During the forecast period, the healthcare sector is expected to have the largest market share. Cognitive assessment is used in healthcare and life sciences organizations to analyze people with mental or cognitive disabilities, and it is used in the detection and treatment of dementia. Cognitive impairment can occur in early childhood or later in life.

Cognitive disorders can be caused by advanced age as well as conditions such as dementia, stroke, substance abuse, and alcohol consumption. Injuries to the brain or head, as well as infections, can cause impairment at any age. The need to detect and assess such conditions will drive the adoption of cognitive assessment and training solutions. A CAGR of 20% is expected for the healthcare industry.

Will the Mobile and Tablet segment be the highest revenue generator?

The mobile and tablet segment will be the highest revenue generator, accounting for more than 60% of total market value. Through the forecast period, the segment will continue to generate revenue at an astounding 16.5% CAGR.

In the cognitive assessment and clinical research, mobile technologies are used for patient recruitment, data collection, symptom monitoring, and health management.

The adoption of mobile applications and IT systems in hospitals and healthcare centers is increasing in order to improve patient compliance, patient care, patient safety, and patient satisfaction. Furthermore, the growing demand from physicians and hospitals for remote access to patient databases is driving the increased adoption of mobile applications and IT systems in healthcare organizations.

Competitive landscape

The cognitive assessment and training market is being shaped by key players who are focusing on developing mobile applications and software. Companies are focusing on technological innovations and new product launches to improve and expand their market results and product offerings.

• Total Brain will collaborate with the Center for Adolescent Research and Education (CARE), a national collaborative of institutions and organizations dedicated to improving youth outcomes and reducing risk, in May 2020. By providing CARE collaborative teen beneficiaries with access to Total Brain's neuroscience-based mental health and wellness assessment and screening tools, the partnership will promote positive youth development.
• ERT acquired APDM Wearable Technologies in June 2020 with the goal of reinventing endpoint measurement in clinical trials. Both companies will generate higher-fidelity and more powerful data, allowing clinical trials to be more predictable, cost-effective, and efficient.
• Shift Concussion Management Guelph and VoxNeuro announced their partnership in February 2021, allowing the former’s concussion management programme to include objective brain health data. Shift Concussion Management Guelph, the founder of the "Shift Concussion Management Program," has joined VoxNeuro's growing clinical network as a test centre and treatment provider in Southern Ontario, Canada. VoxNeuro offers the world's first objective brain health assessment that goes beyond diagnosis.

Key Market Segments Covered in Cognitive Assessment and Training Report

• By Component

  • Cognitive Assessment and Training Software
  • Cognitive Assessment and Training Services
    • Training
    • Consulting
    • Support & Maintenance

• By Type

  • Cognitive Assessment and Training for Personal Computers (PC)
  • Cognitive Assessment and Training for Mobile & Tablet

• By End User

  • Cognitive Assessment and Training for Healthcare
  • Cognitive Assessment and Training for Research Organizations
  • Cognitive Assessment and Training for Education
  • Cognitive Assessment and Training for Other End Users