Cognitive Assessment And Training In Healthcare Market Insights, Demand, and Forecast to 2033 | Analysis and Strategies

It will grow to $16.21 billion in 2028 at a compound annual growth rate (CAGR) of 29.6%

Aug 13, 2024 - 16:35

Cognitive Assessment And Training In Healthcare Market Insights, Demand, and Forecast to 2033 | Analysis and Strategies

Overview and Scope

Cognitive assessment and training in healthcare refer to the processes and programs designed to evaluate, enhance, and maintain cognitive functions such as memory, attention, problem-solving, and decision-making in individuals. Cognitive training supports a person's mental abilities through brain stimulation, acting on brain plasticity, and increasing cognitive reserve.

Sizing and Forecast

The cognitive assessment and training in healthcare market size has grown exponentially in recent years. It will grow from $4.33 billion in 2023 to $5.74 billion in 2024 at a compound annual growth rate (CAGR) of 32.6%. The growth in the historic period can be attributed to data explosion and complexity, growing it infrastructure complexity, demand for proactive issue resolution, automation for efficiency, rise of devops practices.

The cognitive assessment and training in healthcare market size is expected to see exponential growth in the next few years. It will grow to $16.21 billion in 2028 at a compound annual growth rate (CAGR) of 29.6%. The growth in the forecast period can be attributed to integration with aiops, hybrid and multi-cloud environments, focus on explainable ai, enhanced predictive analytics, integration with edge computing. Major trends in the forecast period include advancements in ai and ml technologies, strategic role in digital transformation, intent-based networking (ibn), autonomous operations, aiops for it operations.

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Segmentation & Regional Insights

The cognitive assessment and training in healthcare market covered in this report is segmented –

1) By Component: Solution, Services

2) By Technology: Pen And Paper Based Assessment, Hosted Assessment And Training Tools, Biometrics

3) By Application: Screening And Diagnostics, Clinical Trial, Brain Training, Other Applications

North America was the largest region in the cognitive assessment and training in the healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive assessment and training in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing incidence of dementia is expected to propel the growth of cognitive assessment and training in the healthcare market going forward. Dementia is a category of neurological disorders characterized by a decline in cognitive functions such as memory, thinking, problem-solving, language, and the ability to perform everyday activities. Cognitive assessment tools help detect early signs of cognitive impairment, which can be indicative of dementia, and are also used to monitor the progression of dementia and track changes in cognitive function over time. It can help healthcare providers adjust treatment plans and provide appropriate support as the disease progresses. For instance, in June 2023, according to Alzheimer’s Research UK, a UK-based charity organization, it is estimated that by 2040, over 1.2 million people in the UK will be living with dementia, which represents a significant increase in prevalence, amounting to a 30% rise from the numbers recorded in 2022. Therefore, the increasing incidence of dementia will drive the growth of cognitive assessment and training in the healthcare market.

Key Industry Players

Major companies operating in the cognitive assessment and training in healthcare market report are Signant Health Private Limited, Clario Inc., WIRB-Copernicus Group, WIRB-Copernicus Group, Tecsys Inc., Cognitivescale, Cogstate Ltd., Cognetivity Neurosciences Ltd., MedAvante Inc., Terso Solutions Inc., CogniFit Inc., Akili Inc., BrainScope Company Inc., Cambridge Cognition Ltd., Quest Diagnostics Incorporated, NeuroNation, Wysa Ltd., Brain Resource Company, CNS Vital Signs LLC, Brackets Inc. , Happify Inc., Pear Therapeutics Inc., Total Brain Ltd., Fit Brains Ltd., Posit Science Corporation, Epicor Software Corporation

The cognitive assessment and training in healthcare market report table of contents includes: