Companies In The Cognitive Assessment And Training Market Are Developing Mobile Apps That Measure Cognitive Functions
The Business Research Company's cognitive assessment and training market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, Sept. 14, 2022 /PRNewswire/ -- Cognitive Assessment and Training companies are increasingly focusing on developing mobile apps for their clients. These apps sensitively and objectively measure cognitive function, quantify levels of performance and impairment, and demonstrate the effectiveness of interventions in brain health. Cloud technology enables efficient, non-invasive means of assaying brain function and participant outcomes, improving clinical trials and accelerating decision-making. For instance, in February 2017, Savonix developed a mobile, evidence-based neurocognitive assessment platform that the company says can eliminate the need for pen and paper exams that screen for cognitive functions. The mobile medical app, available on iTunes, evaluates long-term learning and language memory; delayed verbal memory; word memory; impulse control; emotional recognition; one's ability to sustain attention through a task; and executive function.
The global cognitive assessment and training market size is expected to grow from $4.26 billion in 2021 to $5.74 billion in 2022 at a compound annual growth rate (CAGR) of 34.8%. The cognitive assessment and training market share is expected to reach $15.66 billion in 2026 at a CAGR of 28.5%.
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Rise In Healthcare Expenditure – A Major Driver For The Market – ( https://www.thebusinessresearchcompany.com/report/cognitive-assessment-and-training-global-market-report )
Increasing healthcare expenditure is predicted to upsurge the demand for the cognitive assessment and training market. The growth in healthcare expenditure is aiding governments and organizations to spend more on hospitals, diagnostic centers and physical & clinical services, thereby driving the cognitive assessment and training market. According to the WHO, 47 million people have advanced cognitive impairment worldwide, increasing to almost 75 million in 2030 and 132 million in 2050. In the UK, suspected neurological conditions account for about one in 10 GP consultations and around 10% of emergency admissions.
North America Was The Largest Region In The Market In 2021
North America was the largest region in the cognitive assessment and training market and was worth $1315.3 million in 2021. The cognitive assessment and training market in North America is supported by the growing geriatric population, the rising adoption of gamification for cognitive assessments, and by increasing government initiatives. For instance, according to the Population Reference Bureau, the number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group's share of the total population will rise from 16 % to 23 %.
Pearson PLC Held The Largest Share In The Market In 2021 – ( https://www.thebusinessresearchcompany.com/report/cognitive-assessment-and-training-global-market-report )
Pearson PLC was the largest company in the cognitive assessment and training market, with an 11.99% share of the market in 2021. Pearson plc (Pearson) is engaged in providing test development, processing, and scoring services to governments, educational institutions, corporations, and professional bodies. Pearson's growth strategy focuses on incorporating the use of artificial intelligence (AI) for learning through the launch of new products. For instance, in November 2019, Pearson announced the launch of Aida Calculus, an AI-powered tutoring app. Aida uses deep learning technology for analyzing a student's work and providing relevant feedback. It provides hints and recommendations to the students, based on best practices from the cognitive and learning sciences.
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