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Cognitive Assessment and Training Market Rising demand for electronic neurocognitive devices is a key factor driving market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, February 6, 2023 /EINPresswire.com/ -- Cognitive Assessment and Training Market Forecast to 2030

The Global Cognitive Assessment and Training Market research study by Emergen Research is a thorough compendium of analytical data regarding the Cognitive Assessment and Training sector. The Cognitive Assessment and Training Market is segmented in the study, along with a thorough breakdown of the market's size in terms of volume and value. The research includes a detailed prediction for the years 2022–2030 as well as the present Cognitive Assessment and Training Market scenario. The Cognitive Assessment and Training Market research contains a thorough analysis of each industry vertical, segment, end-use industry, application, and region's historical, current, and forecast revenue.

According to the most recent analysis by Emergen Research, the global market for cognitive assessment and training was valued at USD 4.20 billion in 2021 and is predicted to grow at a rate of 29.3% over the projected period. The growing understanding of the advantages of preserving superior brain fitness is the major factor driving market revenue development. Testing and training in cognitive abilities are beneficial for children with neurocognitive disorders, such as dyslexia. Cognitive testing and training strategies can be used to effectively treat the world's ageing population of people with vision and dementia impairments.

In addition, advancement in gamification equipped cognitive devices and their growing adoption rate is significantly accelerating market expansion. Gamification has received overwhelmingly positive feedback from candidates, employers, and psychologists. Game elements are being incorporated into cognitive tasks without compromising accuracy of data, significance of research, or effectiveness of interventions, which increases participant engagement. Moreover, evaluation of a candidate abilities is assessed using game-based psychometric tests, which are utilized in the hiring process. However, due to game style, these examinations are brief and entertaining in contrast to other aptitude tests. Furthermore, primary market participants are concentrating on creating mobile software and applications using cutting-edge technologies such as Machine Learning (ML) and Artificial Intelligence (AI). Increased use of cutting-edge technologies in cognitive training and assessment is also driving market growth. While, negative publicity and media reports about effectiveness of brain training are major factors that are expected to restrain market growth of the market to some extent.

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The global Cognitive Assessment and Training market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Cognitive Assessment and Training industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

Quest Diagnostics, BrainWare, MeritTrac, Cambridge Cognition, Pearson, MedAvante-ProPhase, Cogstate, Winterlight Labs, Philips, and Signant Health

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Some Key Highlights From the Report

The clinical trials segment accounted for largest revenue share in 2021. Features that are leading to development of new solutions and programs and driving revenue growth of this segment include identification and assessment of cognitive changes in a subject and capacity to detect and lower probability of a patient acquiring brain disease.

The large enterprise segment accounted for largest revenue share in 2021. Increasing implementation of cognitive devices in recruitment of new employees by large enterprises is a key factor driving revenue growth of this segment.

The healthcare and lifesciences segment accounted for largest revenue share in 2021. Rise in cases of neurocognitive ailments including dyslexia, dementia, dyscalculia, and others is a key factor driving revenue growth of this segment. In addition, surging cases of neurocognitive ailments lead to increasing installation of cognitive devices and software in healthcare and life sciences infrastructure, which in turn, creates a significant opportunity for market players to invest in this field.

The North America market accounted for largest revenue share in 2021. Significant surge in number of startups in this region is a key factor driving revenue growth. It is expected that number of related products will undergo a rapid increase with growing number of startups related to neurocognitive assessment in this region. This is expected to drive market revenue during the forecast period. In addition, owing to increasing geriatric population and patients suffering from dementia in countries in this region and rising investments by the U.S. government in Research & Development (R&D) of solutions for mental diseases and conditions, are driving revenue growth of the market to a significant extent.

On March 29, 2022, Winterlight Labs, a Canada-based medical equipment manufacturer launched a tablet-based cognitive assessment device that can monitor cognitive debilities through speech. Cognitive ailments, such as dementia and mental disorders, can be detected by analysis of speech in a rapid, objective, and stress-free manner.

Market Overview:

The report bifurcates the Cognitive Assessment and Training market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Component Outlook (Revenue, USD Billion; 2019–2030)

Solutions

Assessment

Data Management

Data Analysis and Reporting

Cognitive Training

Others (Rater Training, Concussion Management, and Screening Solutions)

Services

Training and Support

Consulting

Organization Size Outlook (Revenue, USD Billion; 2019–2030)

Large Enterprises

Small and Medium-sized Enterprises (SMEs)

Application Outlook (Revenue, USD Billion; 2019–2030)

Clinical Trials

Learning

Research

Others (Diagnostics, Recruitment ,and Patient Engagement)

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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