Cognitive Assessment and Training Market - Increased Healthcare Expenditure And Rise In R&D Initiative

Cognitive assessment and training is a formal assessment of one’s psychological functions and speed of information processing. This method of assessment helps an individual in assessing, defining and focusing on individual needs more efficiently. The analysis after cognitive assessment can be useful for various functions such as cognitive training of individuals, early detection of dementia among population and sports management. Based on the statistics provided by Alzheimer's Disease International, approximately 44.4 million people are suffering from dementia worldwide, as of 2013; dementia is expected to remain as one of the major neurological disease globally. To tackle this situation, development of various cognitive tests are expected to increase significantly. The following are

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some of the methods that are used of cognitive assessment and training:

Hosted assessment and training tools
Innovative medical instruments
Pen and paper-based assessment
Biometrics

The following are the areas of application where various cognitive assessment and training tools are being used:

Academic research
Brain training
Clinical trials
Dementia screening
Employer’s assessment and training
Classroom learning
Sports

Geographically, North America is the leading market owing to alarge base of aging population and dementia patients. According to the Alzheimer's Association, approximately 5.2 million Americans of all ages have Alzheimer's disease, as of 2013. While, the Europe and Asia-Pacific regions are expected to experience increased market traction due to the rise in incidence of neurological diseases due to rise in thegeriatric population.

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Some of the major factors driving this market are aging population, increased healthcare expenditure and rise in R&D initiatives. Additionally, accessibility of these tests is one of the major factor that is contributing growing adoption of various tools of cognitive assessment and training. Cognitive assessment and training solutions can also help various organizations and educational institutions in providing suitable guidance to improve cognitive functions of individuals for various disease conditions. However, constant need of development and improvement of thesetests. Moreover,increased need for multiple language tests are some of the factors that could hinder the growth of the market.

Some of the market players in cognitive assessment and training market includes Bracket Global, Cambridge Cognition Ltd., Cogstate Ltd., Pearson Assessments, Posit Science Corp., Lumos Labs (Lumosity), IntelliTools Inc. and CNS Vital Signs LLC, amongst others.

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