The global cognitive assessment and training market has witnessed strong growth owing to the rising adoption of gamification for cognitive assessment, growing awareness for brain fitness and continuous technological advancements in the healthcare industry, and the rise in the aging population and rising healthcare spending.
Jersey City, New Jersey, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Cognitive Assessment and Training Market” By Type (Pen- and Paper-Based Assessment, Hosted Assessment), By Component (Solution and Services), By Application (Clinical Trials, Brain Training, Classroom Learning), and By Geography. According to Verified Market Research, the Global Cognitive Assessment and Training Market size was valued at USD 3,216.85 Million in 2020 and is projected to reach USD 20,443.06 Million by 2028, growing at a CAGR of 27.14% from 2021 to 2028.
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Global Cognitive Assessment and Training Market Overview
The global cognitive assessment and training market is principally driven by the rising adoption of gamification for cognitive assessment. Gamification is a moderately new trend that concentrates on employing game mechanics to non-game settings for engaging audiences and combining a little fun into normal activities besides creating motivational and cognitive benefits. Various sectors such as corporate and education, have taken benefits from the potential of gamification. Growing awareness for brain fitness and continuous technological advancements in the healthcare industry are some other important factors that are propelling the market growth. Moreover, the rise in the aging population and raised healthcare spending is also expected to be another crucial driver for industry growth over the foreseeable future. Furthermore, dementia is one of the primary neurological diseases globally and the capability of these solutions to identify such neurological disorders is further supporting the market growth.
However, strict government regulations across the globe and negative reports about brain training efficiency hinder the growth of the market. Time constraints in developing clinically validated brain training solutions are also expected to limit the market growth. Organizations are working to increase brain fitness by improving the amount of developing solutions and applications to improve neuroplasticity. However, after developing brain training solutions, organizations need to get clinical permissions for launching their products to be used on people.
Due to the COVID-19 outbreak, businesses providing cognitive assessment and training solutions and services are foreseen to witness a minor decline in their growth for a short span of time. Whereas, the selection of work from home leads, eLearning, and health is anticipated to drive increased adoption of cognitive assessment and training solutions, and the market would observe a negligible drop in 2020, followed by positive growth.
Pearson Education, a London-based provider of textbooks and online courses, has acquired Australian workforce AI and predictive analytics company, Faethm.
Oncquest Laboratories had announced the acquisition of world-renowned Quest diagnostic’s Indian facilities, from Strand Life Sciences.
The major players in the market are Pearson, COGNIFIT, COGSTATE Ltd, Quest Diagnostics, Cambridge Cognition, Total Brain, ERT Clinical, MEDAVANTE Inc., SIGNANT HEALTH, and others.
Verified Market Research has segmented the Global Cognitive Assessment and Training Market On the basis of Type, Component, Application, and Geography.
Cognitive Assessment and Training Market, By Type
Pen- and Paper-Based Assessment
Cognitive Assessment and Training Market, By Component
Cognitive Assessment and Training Market, By Application
Cognitive Assessment and Training Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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