Boston, MA -- (ReleaseWire) -- 02/03/2014 -- In this report, cognitive assessment and training is defined as solution that is able to monitor, assess, train, or enhance cognitive functions. These solutions are applied for several uses such as in dementia screening, clinical trials, driver's safety, rehabilitation, academic research, concussion management, classroom learning, self assessment, brain training, and employers' assessment and training by end customers. Furthermore, professionals across verticals such as sports, healthcare, pharmaceutical, education, defense, and many others also use these solutions. The market sizes take into consideration the estimated revenue generated from the analysis of traditional pen and paper-based cognitive assessment by medical practitioners and professionals from other verticals as well as from the cognitive assessment and training products available in the form of software/hosted assessment and training tools and hardware (via innovative medical instruments and biometrics) available in the market.
A few high growth markets are the following:
1. Dementia screening: Growing need for early detection of dementia across multiple regions
2. Concussion management: Increase in number of athletes and defense personnel facing concussion
3. Employers' assessment and training: For the purpose of recruitment decisions or for the enhancement of the mental performance of their employees
4. Innovative medical instruments and biometrics: Increase in number of companies providing innovative hardware to measure, assess, monitor, or train psychological responses linked to neuro-cognitive functioning
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Marketsandmarkets expects healthcare will account for the largest market share throughout the forecast period. However, there are a few revenue pockets, namely pharmaceutical, sports, and defense that will witness significant growth in this period.
Majority of the challenges in this market are specific to the constant research required and increasing need for tests in multiple languages because in order to build tests that can cater to verticals such as healthcare, education, pharmaceutical, as well as for applications such as cognitive training, employers' assessment and training, uninterrupted funding in research is needed to build and improve tests, which are adaptable and can give flawless subjective results and recommendations to each individual. Also, for companies catering to sectors such as healthcare, education, pharmaceutical, and HR, global expansion on a large scale is only possible if they have a portfolio of tests present in multiple languages so that they can cater to specific requirements of each individual or organization present anywhere across the globe.
The report will help the market leaders/new entrants in this market in the following ways -
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