Cognitive Assessment and Training in Healthcare Market Growth To Reach USD 16.45 Billion By 2026 Says Reports And Data

The Global Cognitive Assessment and Training [CA&T] in Healthcare Market is forecast to reach USD 16.45 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. The rising awareness about mental health and its overall impact on the wellbeing of an individual is an integral factor supporting the market growth. Various other factors are spurring the market growth. One of these mentionable factors is, since 2016, various companies providing cognitive training services and products have come to the forefront and marketed their services & products to be capable of enhancing memory among adults, prevent Alzheimer's and dementia. In 2017, moderate strength evidence was found by National Academies of Sciences, Engineering, and Medicine that indicated the fact that cognitive training has a positive impact on preventing dementia and cognitive decline with growing age. In 2018, cognitive training has been incorporated in the guidelines for the treatment of mild cognitive impairment by the American Academy of Neurology. The associated between these positive evidences of cognitive training and prevention of cognitive impairment results in propelling the market growth. 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. In regards to region, Europe occupies an integral market share. It is attributed to the continuous rise in geriatric population, rising investment in healthcare researches, and innovation.

Major Key Players of the Cognitive Assessment and Training in Healthcare Market are:

Bracket, Cambridge Cognition Ltd., Quest Diagnostics, Medavante Inc., Neurocog Trials, Cogstate Ltd., Prophase, LLC, ERT Clinical, Cognifit and Brain Resource Company.

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For the purpose of this report, global cognitive assessment and training in healthcare market has been segmented according to Component, Assessment Type, Application, and Region:

Component Type Outlook (Revenue, USD Million; 2020-2026)

Services
Solution

Assessment Type Outlook (Revenue, USD Million; 2020-2026)

Biometrics Assessment
Pen and Paper Based-Assessment
Computerized Cognitive Assessment
Others

Application Type Outlook (Revenue, USD Million; 2020-2026)

Screening and Diagnostics
Clinical Trials
Academic Research
Brain Training
Others

Regional Outlook (Revenue, USD Million; 2020-2026)

North America
U.S.
Europe
U.K.
France
Asia Pacific
China
India
Japan
MEA
Latin America
Brazil

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The Cognitive Assessment and Training in Healthcare market is heavily consolidated owing to a large number of global, regional, and local key contenders having already established a significant footing. The key participants dominate the operations in the industry with their extensive geographical coverage and huge production facilities. Players operating in this market are in intense competition in terms of technological innovations, product development, and product pricing. To gain a competitive edge over the other competitors in the industry, the leading players are focusing more on ways to offer products at attractive prices.

What are the market factors that are explained in the report?

Market dynamics: The report also assesses the various commercial possibilities that are expected to be revealed in the near future and the positive revenue forecasts in the years ahead. It also studies the key markets and explores different geographies where the industry is established.

Competitive Market Share: The key players focus their operations in the sector in select regions, owing to their robust geographic reach and huge production facilities. Players operating in this market are in intense competition in terms of technological advancements, product development, and product pricing. To gain a competitive upper hand over the other rivals in the COGNITIVE ASSESSMENT AND TRAINING IN HEALTHCARE industry, the prominent players are focusing more on offering products at reasonable prices.

The Goal of the Report: The main objective of this research study is to provide a holistic overview and a better interpretation of market aspects to producers, suppliers, and distributors. The readers can get profound insights into this market that will allow them to formulate and develop critical strategies to bring about the desired business expansion.

Further key findings from the report suggest

The CA&T in Healthcare market held a market share of USD 1.71 Billion in the year 2018 and is forecasted to witness a CAGR of 32.6% during the forecast period.

In context to Component, the Solutions segment generated a higher revenue of USD 1,043.5 Million in 2018, with the growth rate of 32.0% during the forecast period. The revenue generated by the Solutions segment is the resultant of rising demand for healthcare support and solutions with the help of which, the cognitive functioning & changes can be evaluated, and its benefits like accessing care services from home.
In the Assessment Type, the Pen and Paper Based-Assessment segment can be seen to generate the highest revenue of USD 855.4 Million in 2018, with a CAGR of 32.8% during the forecast period. The extensive application of this type of assessment, as it is one of the convenient ways of measuring cognitive changes & decline and this assessment type being the standardized method of cognitive assessment in various healthcare organizations contributes to the revenue generated by this segment.

In the Application, the Clinical Trials segment occupied the largest market share of 38.0% in 2018, with a CAGR of 32.5% during the forecast period. At the time of determining the clinical drug development, the evaluation of cognitive functioning plays an essential role that can be effectively performed by clinical trials, which contributes to the market share occupied by this segment. It is with the help of clinical trials, cognitive changes & impairment can be primarily measured, monitored, or identified…Continue

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Reasons to Purchase Cognitive Assessment and Training in Healthcare Market Report:

Current and future progression of Cognitive Assessment and Training in Healthcare products in the developed and emerging markets.

The segments that are estimated to control the future growth of the Cognitive Assessment and Training in Healthcare market.

Regions that are expected to undergo the fastest growth during the forecast years.

Identify the recent developments, Cognitive Assessment and Training in Healthcare market shares, and lucrative strategies deployed by the prominent market contenders.

Moreover, the research report mentions the leading players in the global Cognitive Assessment and Training in Healthcare market. Their critical marketing approaches and advertising enterprise have been underlined to offer a clear outlook of the Cognitive Assessment and Training in Healthcare market.

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This release was published on openPR.