New York, NY -- (SBWIRE) -- 01/20/2021 -- The global cognitive assessment and training [CA&T] market is forecast to reach USD 28.37 Billion by 2026, according to a new report by Reports and Data. The market is predicted to witness a significant growth during the forecast period. Cognitive interventions can be grouped into three types- cognitive stimulation, cognitive rehabilitation, and cognitive training. In the cognitive training, intervention is made in a care user's care plan, wherein he/she is provided with structured practice on tasks related to the issues of cognitive functioning that has a direct impact on the cognitive impairment. Thus, with the help of these interventions, the progression of cognitive impairments like dementia can be prevented. Various education-related companies like Pearson Assessments are aiming to provide with CA&T services to various educational institutions. Herein, a higher demand for customized teaching methodology in educational sectors is positively impacting the growth of the market. In regards to region, Europe occupies a significant market position. It is attributed to the continuous rise in geriatric population, rising investments in healthcare researches, and increasing acceptance of CA&T services in different corporate houses.
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Leading Players Profiled in the Report Include:
Bracket, Cambridge Cognition Ltd., Quest Diagnostics, Medavante Inc., Neurocog Trials, Pearson Education, Prophase, LLC, ERT Clinical, Cognifit, and Brain Resource Company.
Further key findings from the report suggest
The CA&T market held a market share of USD 3.13 Billion in the year 2018 and is forecasted to witness a CAGR of 31.6% during the forecast period.
In context to Component, the Solutions segment generated a higher revenue of USD 2.04 Billion in 2018, with the growth rate of 31.1% during the forecast period. The revenue generated by the Solutions segment is resultant of the high demand of CT&A solutions among healthcare providers for assessment of mental health disorders, determine any change in the cognitive functioning and provide medication based on the assessment to the care-user.
In the Assessment Type, the Pen and Paper Based-Assessment segment can be seen to generate the highest revenue of USD 1.94 Billion in 2018, with a CAGR of 31.1% during the forecast period. The extensive application of this type of assessment, as it is one of the convenient ways of measuring cognitive changes and this assessment type being the standardized method of cognitive assessment contributes to the revenue generated by this segment.
In the End-user, the Healthcare segment occupied the largest market share of 54.6% in 2018, with the second-highest CAGR of 32.6% during the forecast period. At the time of determining the mental health disorder and clinical drug, the evaluation of cognitive functioning plays an essential role in healthcare. It can be effectively performed with the help of CA&T solutions, which helps in evaluating cognitive changes & impairment. In treating mental health conditions like dementia, cognitive training & support services adds value to the cognitive solutions. These factors contribute to the market share occupied by the Healthcare segment.
In regards to region, Asia Pacific is forecasted to witness the fastest growth rate of 32.7% during the forecast period, which occupied a market share of 27.0% in 2018. The rising awareness about mental health in developing regions, and increasing number of researches being conducted on cognitive functioning are some of the factors, are propelling the market growth in this region.
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For the purpose of this report, global cognitive assessment and training market has been segmented according to Component, Assessment Type, End-user, and Region:
Component Type Outlook (Revenue, USD Billion; 2020-2026)
Services
Consulting
Training and Support
Solution
Data Management
Assessment
Data Analysis and Reporting
Project Management
Others
Assessment Type Outlook (Revenue, USD Billion; 2020-2026)
Biometrics Assessment
Pen and Paper Based-Assessment
Hosted Assessment
End-user Type Outlook (Revenue, USD Billion; 2020-2026)
Healthcare
Education
Corporate
Others
Pharmaceuticals
Sports
Defense
Regional Outlook (Revenue, USD Billion; 2020-2026)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Cognitive Assessment And Training Market Segmentation & Impact Analysis
4.1. Cognitive Assessment And Training Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
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