Cognitive Assessment and Training Market Size, Share | Industry Forecast by 2030 (2023)

Market Synopsis

The global cognitive assessment and training market size was USD 4.20 Billion in 2021 and is expected to register a revenue CAGR of 29.3% during the forecast period. Rising prevalence of dementia among geriatric population all over the world, increasing awareness regarding importance of maintaining brain fitness, increasing utilization of solutions to detect learning difficulties and disabilities, such as dyslexia and dyscalculia in children, and rising healthcare expenditure and extensive Research and Development (R&D) activities are major factors driving market revenue growth. According to World Health Organization (WHO), in 2022, there are over 55 Million people affected by dementia. Increase in number of dementia-affected patients worldwide generates a significant demand for cognitive assessment and training platforms. Dementia or frontotemporal dementia is an age-related clinical syndrome that results in acute retrogression in cognitive activities and neurological functioning of a patient. In addition, significant fatality rate owing to dementia is another factor driving revenue growth of the market. Rise in dementia-mediated fatality all over the world leads to a surge in adoption rate of an array of cognitive assessments and training platforms, thereby creating a significant opportunity for global investors to invest in development of cognitive assessment software and other modes.

Cognitive debilities including mild cognitive impairments are identified beforehand using cognitive assessment and training methods. Cognitive assessment programs are mostly used to perform a formal evaluation of patient's neuropsychological conditions, cognitive functioning, and rate of information processing, thereby detecting traces of cognitive decline. Cognitive tools are used by education specialists as well as healthcare professionals for detecting any traces of cognitive symptoms and improving level of therapeutic interaction with students and patients respectively.

Moreover, increasing level of competition among school-going as well as college-going students is a major factor driving revenue growth of the cognitive assessment and training market. In the recent years, there has been a rise in global literacy rate, which has led to generation of significant surge in volume of educated and highly competitive students in every country. Increasing competition has led to installation of high-end cognitive methods in educational institutes and personalized adoption of cognitive training software by students. Onset of integration of computerized cognitive testing in educational institutes allows precise analysis of learning and memory, forgetfulness, any sensory deficit, and other probable abnormalities among students.

Furthermore, growing number of grants by governmental and non-governmental bodies for R&D of cognitive assessment and training is another factor driving revenue growth of the market. For instance, on February 23, 2022, National Institutes of Health (NIH) officially granted a Funding Opportunity Announcement (FOA) for development of ultra-modern cognitive assessment and training platforms. However, increase in amount of funding creates an opportunity for invention and following introduction of cognitive devices capable of providing effective logical reasoning tests, deductive reasoning tests, mechanical reasoning tests, and other related cognitive evaluation methods.

Cognitive Assessment and Training Market Size, Share | Industry Forecast by 2030 (1)

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Application Insights:

The clinical trials segment accounted for largest revenue share in the global cognitive assessment and training market in 2021

Based on application, the global cognitive assessment and training market is segmented into clinical trials, learning, research, and others. The clinical trials segment accounted for largest revenue share in 2021 owing to inclusion of cognitive assessment devices in the clinical healthcare industry. Cognitive assessment devices are optimized to detect precise cognitive changes in a subject at an early stage. In addition, these devices are significantly utilized to monitor principal cognitive aspects including episodic and working memory, attention, and executive functions, among others. Cognitive assessment and training platforms contain an array of evaluatory testing modules that can measure principal cognition based abilities of a participating subjects at a brief amount of time with a limited but effective number of questions. Moreover, increasing prevalence of Alzheimer’s Disease (AD) is a major factor driving revenue growth of this segment. According to Australian Institute of Health and Welfare (AIHW), in 2020, the fatality value mediated by Alzheimer’s disease was close to 15,000 all over Australia. AD is a neurologic disorder that causes degeneration of neurons and other nerve cells, affecting neuropsychology of human brain. AD leads to atrophy of hippocampus, which affects normal brain functions and results in short-term-memory. Amyloid deposition in brain leads to brain disorders, cranial processing speed, and memory disorders, while cognitive assessment and training is extensively used to treat this disease. Furthermore, rising fatality owing to AD creates a significant demand for cognitive assessment and training platforms. These platforms address dysfunction by presenting participant subjects with an array of tasks randing from cognitive thinking exercises, word puzzles, card and board gamified activities, and others.

The learning segment accounted for a steady revenue share in 2021. Rising academic career awareness among students, parents, and educational professionals is driving revenue growth of this segment. Personalized, student specific cognitive test platforms evaluate students based on their psychological and intellectual acumen and facilitate easier achievement of their academic goals. A formal test called cognitive evaluation and training evaluates a person's psychological health and rate of information processing, which aid in more effectively defining and concentrating on specific needs. In addition, numerous advantages, including personality management, sports management, and psychological instruction for individuals are anticipated from these solutions. It is expected that a growing number of students will open up opportunities for the cognitive assessment and training market. Moreover, significant surge in competition among market players will offer value-added solutions as there are more industry participants, which is expected to open up new opportunities for industry expansion. Furthermore, information technology development has produced better, more logical answers, which has increased demand for these platforms in the recent years.

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Organization Size Insights:

The large enterprise segment accounted for largest revenue share in the global cognitive assessment and training market in 2021

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Based on organization size, the global cognitive assessment and training market is segmented into large enterprises, medium enterprises, small enterprises, and others. The large enterprises segment accounted for largest revenue share in 2021 owing to inclusion of cognitive assessment devices in the recruitment process by various large enterprises. Conduction of an evaluatory test using cognitive assessment and training platform aid recruiter of large enterprise to understand various psychological aspects of prospective candidate including thinking skills, problem-solving abilities, cognitive ability, and other cerebral functioning, which is useful in understanding the mindset, work approach, and other important domains applicable for respective work position.

The medium enterprises segment accounted for a steady revenue share in 2021. Inclusion of cognitive assessment and training platforms in medium enterprises drives revenue growth of this segment. Cognitive assessment facilitates better decision-making for the recruiter and generates self-awareness among employees. Moreover, it allows team development, career planning, and other related activities, thereby automatizing them and decreasing need for hiring an increased number of manpower.

End-use Insights:

The healthcare and lifesciences segment accounted for largest revenue share in cognitive assessment and training market in 2021

Base on end-use, the global cognitive assessment and training market is segmented into healthcare and life sciences, education, corporate and others. The healthcare and lifesciences segment accounted for largest revenue share in 2021. Rise in number of patients with neuro-cognitive disorders is a major factor driving revenue growth of this segment. In addition, surging number of patients generates increased installation of cognitive assessment and training tools in healthcare institutes, which in turn, creates a significant opportunity for market players to invest in this field. Integration of neuroscience, psychiatry, and cognitive remediation with software and computer engineering allows identification of biomarkers that clinically aids comprehension of neurodegenerative diseases such as, Parkinson’s disease and a plethora of other diseases, thereby improving mental state of patients. Furthermore, neurologists significantly recommend cognitive assessment and training for diagnosing abnormal brain function as a therapy for brain problems.

The education segment accounted for a steady revenue share in 2021. Rise in number of students with neuro-cognitive disorders is a major factor driving revenue growth of this segment. Rise in competitive scenario in education and training industry prompts schools to foster cognitive assessment tests for students to assist them with accomplishing their scholastic objectives by facilitating cognitive improvement. In view of tests' scores, analysts suggest advancement plans for students with respective psychrometric abilities. In addition, these devices provide a systematic review of depressive symptoms, and cognitive change, medical history, risk factors, and perceptual deficits, thereby establishing itself as a mode for mini-mental state examination.

Regional Insights:

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The North America market accounted for largest revenue share than other regional markets in the global cognitive assessment and training market in 2021

The North America market accounted for largest revenue share in 2021. Rising number of startups developing cognitive assessment and training platforms is a major factor driving revenue growth in this region. For instance, some of the most prominent startups in this region include Signant Health (U.S.), Savonix, Inc. (U.S.), Winterlight Labs (Canada), and others. In addition, it is expected that number of related products will undergo a rapid surge with growing number of startups related to neurocognitive assessment in this region. This is expected to increase market revenue during the forecast period. Moreover, increasing number of grants from various research institutes for R&D in cognitive diseases, such as AD, dyslexia, dyscalculia, and autism accompanied by development of cognitive platforms to treat these diseases, is a major factor driving novel neurocognitive innovations. For instance, on January 18, 2022, Simons Foundation Autism Research Initiative (SFARI), a U.S.-based organization announced a pilot award of USD 300,000 for Human Cognitive & Behavioral Sciences. Furthermore, grants from several research centers generate a significant scope for successful integration of medical sciences with information technology, computer sciences, and software engineering, thereby leading to advancement in cognitive assessment and training-based platforms in this region.

The Europe market accounted for a steady revenue share in 2021. Rising cases of neurocognitive disorders accompanied by high per capita income of the majority of inhabitants in this region is a major factor driving revenue growth of the market. According to Newcastle University, the percentage of children with autism had increased from 1.56% to 1.76% in 2021. Significant surge in number of children affected by neurocognitive disorders creates a demand for cognitive assessment devices in this region. In addition, European countries have some of the highest per capita all over the world. For instance, according to World Bank (2021), Luxembourg has a per capita income of USD 135,682.8 and Ireland has a per capita income of USD 99,152.1. High income of the majority of European population allows local population to afford expensive cognitive assistance devices, which attracts investors to invest in cognitive assessment and training devices in this region.

The Asia Pacific market accounted for a moderate revenue share in 2021. Growing young population is driving revenue growth of this region. According to United Nations Population Fund (UNFPA), this region has 60% of the global population, which accounts for 4.3 Billion people. The average replacement value in this region is 2.1 children per woman. In addition, rising young population in this region has led to a significant rise in students affected by neuro-cognitive ailments including dyslexia and dyscalculia, which generated a hike in adoption rate of cognitive assessment and training devices. Moreover, rising implementation of electronic equipment including smartphones, internet facilities, and others in educational institutes is expected to generate revenue growth of this region. Penetration of electronic goods in educational centers increases exposure of students to electronic, smartphone-based cognitive devices. Furthermore, psychrometric results provided by cognitive tools guide professionals in the education industry to make one-to-one career decisions for students, thereby enhancing their chances to excel in a respective domain.

Cognitive Assessment and Training Market Size, Share | Industry Forecast by 2030 (3)

Major Companies and Competitive Landscape

The global cognitive assessment and training market is fairly fragmented, with many large and medium-sized players accounting for a majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective neurocognitive products. Some major players included in the global cognitive assessment and training market are:

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  • Cambridge Cognition Ltd.
  • Cogstate Ltd.
  • Signant Health
  • Total Brain
  • MeritTrac Services Pvt. Ltd.
  • The Brain Workshop
  • Koninklijke Philips N.V.
  • CogniFit Inc.
  • WIRB-Copernicus Group
  • Neurotrack Technologies, Inc.
  • ImPACT Applications Inc.

Strategic Development

  • In March 2020, Cogstate Ltd., an Australia-based neuro-health company launched a brain health monitoring application called NouKNOW in Japan. It is a neuro-cognitive assessment device that utilizes an array of cognitive tests to determine if the user has any sort of neuro-cognition-based disorder.
  • In January 2020, Cognivue, Inc., a U.S.-based medical equipment manufacturing launched its new FDA-approved product Cognivue Thrive. It is a 5 minutes, self-administered and computer-based equipment capable of monitoring neuro-cognitive functions with negligible involvement of professionals.

Scope of Research

PARAMETERSDETAILS
The market size value in 2021USD 4.20 Billion
CAGR (2022-2030)29.3%
The Revenue forecast in 2030USD 42.37 Billion
Base year for estimation2021
Historical data2019-2020
Forecast period2022-2030
Quantitative unitsRevenue in USD Billion and CAGR in % from 2022 to 2030
Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, organization size, end-use, Region

Regional scope

North America; Europe; Asia-Pacific; Latin America; Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA

Key companies profiled

Cambridge Cognition Ltd., Cogstate Ltd., Signant Health, Total Brain, MeritTrac Services . Ltd., The Brain Workshop, Koninklijke Philips N.V., CogniFit Inc., WIRB-Copernicus Group, Neurotrack Technologies, Inc., and ImPACT Applications Inc

Customization scope

10 hrs of free customization and expert consultation

Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global cognitive assessment and training market based on application, organization size, end-use, and region:

  • Application Outlook (Revenue, USD Billion; 2019-2030)

    • Clinical Trials
    • Learning
    • Research
    • Others
  • Organization Size Outlook (Revenue, USD Billion; 2019-2030)

    • Large Enterprise
    • Medium Enterprise
    • Small Disease
    • Others
  • End-use Outlook (Revenue, USD Billion; 2019-2030)

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    • Healthcare and Lifesciences
    • Education
    • Corporate
    • Others

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