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Cognitive Diagnostics: A Leading Driver Behind Rising Neurological Disorders To Accelerate Growth In The Cognitive Diagnostics Market Market Expansion in 2025
Cognitive Diagnostics Market
What Will the Cognitive Diagnostics Industry Market Size Be by 2025?
The size of the cognitive diagnostics market has seen substantial growth recently. It is projected to rise from $5.07 billion in 2024 to $6.25 billion in 2025, indicating a compound annual growth rate (CAGR) of 23.1%. The growth during the historic era has been attributed to several factors including the higher prevalence of cognitive disorders, progression in neuroimaging technology, rising consciousness about early diagnosis, an increase in the elderly population, government research funding, broader clinical trials, and a growing demand for customised medicine.
What's the Long-Term Growth Forecast for the Cognitive Diagnostics Market Size Through 2029?
In the coming years, the cognitive diagnostics market is forecasted to experience substantial growth, expanding to a worth of $14.25 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 22.9%. Factors contributing to this projected growth include early adoption of digital health tech, a shift towards early and preventive diagnostics, a rising incidence of neurodegenerative diseases, advancements in biomarker development, extension of telemedicine and remote monitoring systems, augmented investments in research and development, and an increase in healthcare spending. Some of the prominent trends observed during this forecast period encompass the merging of AI and large data analytics, broadening of digital cognitive evaluation tools, an increased employment of wearable gadgets for cognitive monitoring, advancements in biomarker unearthing, surge in individualized and precision medicine, expansion of remote and telehealth diagnostic practices, creation of holistic care solutions, and reinforced partnerships between technology companies and healthcare providers.
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What Are the Key Growth Drivers Fueling the Cognitive Diagnostics Market Expansion?
The growing number of neurological disorders is anticipated to boost the cognitive diagnostics market's expansion. Neurological disorders, which impact the brain, spinal cord, and nervous system, resulting in impaired function and symptoms such as cognitive decline, motor dysfunction, and sensory abnormalities, are on the rise. This increase is attributed to the growing prevalence of age-related diseases like Alzheimer's and Parkinson's, as well as hereditary influences, environmental toxins, stress, unhealthy eating habits, and sedentary lifestyles. Cognitive diagnostics serve a crucial role in neurological diseases for identifying, measuring, and monitoring cognitive defects, thereby assisting in the early detection and treatment of diseases like Alzheimer's and Parkinson's. For instance, a report from the Alzheimer's Association, a U.S. based charity committed to Alzheimer's care, support, and research, showed that in May 2024, the number of Americans aged 65 and older diagnosed with Alzheimer's dementia increased from 6.5 million in 2022 to an estimated 6.9 million in 2024. Hence, the rising occurrence of neurological disorders is fuelling the expansion of the cognitive diagnostics market.
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What Are the Key Trends Driving Cognitive Diagnostics Market Growth?
Leading entities in the cognitive diagnostics market are leveraging technological advancements in diagnostic tools such as neuropsychological testing platforms to provide real-time insights into cognitive health and boost precision, efficiency, and inclusivity in cognitive evaluations. These platforms are dedicated digital tools intended to evaluate cognitive abilities via standardized tests, which include memory, attention, and problem-solving abilities. For example, BrainCheck Inc., a digital health corporation from the US, introduced its in-depth digital cognitive assessment platform at the American Academy of Neurology (AAN) Annual Meeting in April 2024. This platform showcases sophisticated tools for cognitive screening, evaluation, and care planning such as Assessment, Screening, and Plan. These features offer healthcare professionals a modern approach to simplify management of cognitive health via mobile, digital technology, ensuring precision and user-friendliness. The aim of this innovative platform is to enhance the care standard for patients and healthcare providers by providing thorough, evidence-backed suggestions and inclusive care planning.
How Is the Cognitive Diagnostics Market Segmented?
The cognitive diagnosticsmarket covered in this report is segmented -
1) By Diagnosis: Brain Imaging Tests, Laboratory Testing, Mental Status Testing, Rapid Home Screening Tests, Neuropsychological Testing, Electroencephalogram (EEG), Cognitive Function And Behavioral Tests, Neuropsychiatric Inventory Questionnaire (NPI-Q)
2) By Indication: Alzheimer's Disease, Attention Deficit Or Hyperactivity Disorder, Dementia, Epilepsy-Related Cognitive Dysfunction, Mild Cognitive Impairment, Parkinson's Disease-Related Cognitive Dysfunction, Stroke-Related Cognitive Dysfunction, Traumatic Brain Injury, Other Indications
3) By End User: Hospitals, Neurology Clinics, Cognitive Behavioral Therapy Centers, Rehabilitation Centers, Academic And Research Institutes, Diagnostic Imaging Centers, Home Care Settings
Subsegments:
1) By Brain Imaging Tests: Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), Computed Tomography (CT) Scans, Functional MRI (fMRI), Single-Photon Emission Computed Tomography (SPECT), Magnetoencephalography (MEG)
2) By Laboratory Testing: Blood Biomarkers for Cognitive Disorders, Genetic Testing for Cognitive Impairment, CSF (Cerebrospinal Fluid) Biomarker Tests, Hormonal and Metabolic Testing, Genetic Sequencing for Alzheimer's Disease
3) By Mental Status Testing: Mini-Mental State Examination (MMSE), Montreal Cognitive Assessment (MoCA), Saint Louis University Mental Status (SLUMS) Exam, Cognitive Assessment Screening Tools
4) By Rapid Home Screening Tests: Self-Administered Cognitive Tests, Mobile App-Based Cognitive Screening, At-Home Memory and Mental Health Tests
5) By Neuropsychological Testing: Cognitive and Behavioral Assessment Batteries, Attention and Memory Function Tests, Executive Function and Problem-Solving Tests, Verbal and Visual Learning Tests
6) By Electroencephalogram (EEG): Resting-State EEG for Cognitive Disorders, Event-Related Potential (ERP) Testing, Quantitative EEG (QEEG) for Brain Mapping, Long-Term EEG Monitoring for Cognitive Disorders
7) By Cognitive Function and Behavioral Tests: Memory Function Tests, Attention and Concentration Tests, Language and Communication Tests, Mood and Behavior Assessments
8) By Neuropsychiatric Inventory Questionnaire (NPI-Q): NPI-Q for Dementia Screening, Behavioral and Psychological Symptoms of Dementia (BPSD) Assessment, NPI-Q for Alzheimer's Disease and Other Cognitive Disorders, Shortened Versions of NPI-Q for Clinical Settings.
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Which Companies Are Leading the Charge in Cognitive Diagnostics Market Innovation?
Major companies operating in the cognitive diagnostics market are Cogstate Ltd., Viz.ai, Redcliffe Labs, Mind Maze, Neurocare Group AG, Pathway Genomics, Diadem srl, Cambridge Cognition Ltd., Posit Science Corporation, Anderson Diagnostics & Labs., Altoida AG, BrainScope Company Inc., Neurotrack Technologies Inc., Cognetivity Neurosciences Ltd., BrainCheck, Cyclops MedTech Pvt Ltd, Twill Inc., CN Diagnostics, Savonix Inc., Cognivue Inc., NeuroCog Trials, Pearson Clinical, Re:Cognition Health, CogniSense, The Neuropsychology Consultants
Which Regions Are Leading the Global Cognitive Diagnostics Market in Revenue?
North America was the largest region in the cognitive diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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