Cognitive Assessment and Training Market

GMI Research analysis indicates that the Cognitive Assessment and Training Market estimated at USD 3.5 billion in 2021 and is slated to register a double digit CAGR of 20.4% over the period, 2022-2029 and is projected to reach USD 15.5 billion in 2029.

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Market Dynamic

Key Drivers and Emerging Trends

Rising adoption of gamification for cognitive assessment; increased adoption of eLearning in educational institutes and work from home trends in corporate sector; and growing demand for improved mental fitness has led to the increasing adoption of the cognitive assessment and training solutions and services. In addition, growth in the healthcare spending, rise in the elderly population, and the application of mobile technologies for clinical research for patient cognitive assessment, data collection, symptom monitoring, and e-health management is further contributing to the market growth. Moreover, increasing usage of smartphones and tablets coupled with the easy accessibility of cognitive tests for collecting clinician-reported outcome (ClinRO), personalized evaluation tests for students, employer evaluation, and academic research is expected to augment the market growth.

Restraint in the Cognitive Assessment and Training Market

However, lack of awareness and acceptance regarding cognitive assessment tests is expected to restrain the growth of the market. Additionally, long time duration for the development, training, and clinically validation of these assessment solutions may further hamper the market growth over the forecast period.

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Component – Segment Analysis

Based on the component, the solution segment is expected to account for a prominent share in the market over the forecast period primarily due to the growing awareness about cognitive assessments, training, data analysis in schools and colleges, corporate sector, and healthcare industry. Additionally, cognitive assessment solutions help in selecting the most suitable candidates in an organization, measuring the intellectual ability and general intelligence of students, identifying cognitive strengths and weaknesses in children, which further augment the market growth.

Assessment Type – Segment Analysis

Based on the assessment type, pen & paper based assessment segment is anticipated to hold a notable share in the market owing to its benefits that includes allow students traditional method of assessment, easy to understand for aged population, individual can explain reasoning in their own words.

Vertical – Segment Analysis

Based on the vertical, the healthcare sector is projected to witness high growth during the forecast period owing to the increasing application of cognitive assessment and training solutions for analysing people with mental disabilities, personality change, depression, balance issues, deterioration of chronic disease, and in detection and therapy of dementia.  In addition, according to the World Bank, in 2018, the healthcare expenditure is around 9.8% of the world GDP owing to the increasing focus towards the advancements of medical treatment, diagnosis, and prevention of diseases globally. This is expected to support the market growth.

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Regional – Segment Analysis:

Based on region, North America is expected to hold a prominent market share primarily due to the growing awareness of mental health and cognitive skills among people and increasing adoption of cognitive assessment solutions in various sectors including healthcare, education, defence, and sports. According to the Centres for Medicare & Medicaid Services (CMS), U.S., the health care spending grew 4.6% in 2019, reaching $3.8 trillion and the health spending accounted for 17.7% of the nation’s Gross Domestic Product, which is expected to propel the growth and development of the market in the region.

Top Market Players

Several leading Cognitive Assessment and Training companies operating in the market, include, Cambridge Cognition Ltd., Cogstate Ltd., Quest Diagnostics Incorporated, Signant Health, BrainWare Learning Company, Pearson, MedAvante-ProPhase, Inc., BrainCheck, Inc., MeritTrac Services Pvt. Ltd., and Total Brain among others. 

Key Developments: 

• • In 2020, Total Brain, a mental health and wellness monitoring and support platform, partnered with the Center for Adolescent Research and Education (CARE). The partnership is aimed at promoting positive youth development by offering CARE collaborative teen beneficiaries access to Total Brain’s neuroscience-based mental health and wellness assessment and screening tools.

Segments covered in the Report:

The global Cognitive Assessment and Training Market has been segmented on the basis of component, assessment type, vertical, and key regions. Based on component, the market is segmented into solution and services. Based on the assessment type, the market is segmented into hosted assessment, biometric assessment, and pen & paper based assessment. Based on the vertical, the market is segmented into corporate, healthcare, education, sports, defence, pharmaceuticals, and others. 

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Key questions answered in this research report:

• • At what pace is global Cognitive Assessment and Training Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Cognitive Assessment and Training Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Cognitive Assessment and Training Market?
  • Which component generated maximum revenues in 2021 and identify the most promising component during the forecast period?
  • What are the various verticals of global Cognitive Assessment and Training Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Cognitive Assessment and Training Market by Component

• • Solution
  • Assessment
  • Data Management
  • Data Analysis and Reporting
  • Cognitive Training
  • Services
  • Consulting
  • Training & Support

Global Cognitive Assessment and Training Market by Assessment Type

• • Hosted Assessment
  • Biometric Assessment
  • Pen & Paper Based Assessment

Global Cognitive Assessment and Training Market by Vertical

• • Corporate
  • Healthcare
  • Education
  • Sports
  • Defence
  • Pharmaceuticals
  • Others

Global Cognitive Assessment and Training Market by Region

• • North America Cognitive Assessment and Training Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Assessment Type
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Cognitive Assessment and Training Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Assessment Type
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Cognitive Assessment and Training Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Assessment Type
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Cognitive Assessment and Training Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Assessment Type
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Cognitive Assessment and Training Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cambridge Cognition Ltd
  • Cogstate Ltd.
  • Quest Diagnostics Incorporated
  • Signant Health
  • BrainWare Learning Company
  • Pearson
  • MedAvante-ProPhase, Inc.
  • BrainCheck, Inc. 
  • MeritTrac Services Pvt. Ltd.
  • Total Brain