Cognitive Assessment and Training in Healthcare Market Size, Share & COVID-19 Impact Analysis, By Assessment Type (Pen and Paper, Biometrics, and Hosted), By Application (Screening and Diagnostics, Clinical Trials, Brain Training, and Others), and Regional Forecast, 2023-2030

The cognitive assessment and training in healthcare market size was valued at USD 3.90 billion in 2022 and is projected to grow from USD 4.95 billion in 2023 to USD 29.74 billion by 2030, exhibiting a CAGR of 29.2% during 2023-2030. North America dominated the global market with a share of 53.58% in 2022.

Cognition is a mental action through which knowledge is acquired by understanding, thought, and senses. Cognitive assessment is used to test the normal functioning of the brain. It has its applications in research studies, clinical trials, screening of neurological diseases, academic institutes, and offices to test an employee’s potential. The test is also used to screen Mild Cognitive Impairment (MCI). The increasing prevalence of diseases, such as MCI has been fueling the demand for cognitive assessment and training in healthcare. For instance, as per a research article published by Frontiers Media S.A. in 2022, the global prevalence of MCI was around 15-20%.

Moreover, the increasing emphasis of market players on expanding their presence has also boosted the global cognitive assessment and training in healthcare market growth.  Furthermore, the risk of cognitive impairment rises with the increase in geriatric population. Therefore, increase in the geriatric population in the regional markets is also expected to be responsible for the market growth during the forecast period.

COVID-19  IMPACT:

COVID-19 Boosted Market Growth Due to Rising Trend of Virtual Clinical Trials 

The emergence of the COVID-19 pandemic boosted the market growth in 2020 and 2021. Cognitive assessment tests in clinical trials are used to assess the effectiveness of a drug or vaccine after administering it to the registered patients. The sudden spike in the adoption of cognitive assessment and training in healthcare services was attributed to the increased number of clinical trials for the development of various vaccines.

The key market participants experienced a significant growth in their revenues in 2021. For instance, Cambridge Cognition Ltd. generated a revenue of USD 8 million in 2020, experiencing a growth of 33.7% from the previous year. The company recorded a major boost in its revenue due to the increasing trend of virtual clinical trials and rising investments in central nervous system (CNS) drug development processes.

Moreover, during the COVID-19 pandemic, the number of clinical trials being conducted experienced a considerable decline during the first half of 2020. But in the second half, the number of clinical trials being conducted witnessed a sudden growth for the development of vaccines and drugs to treat and prevent the onset of various diseases. However, clinical trials were expected to be conducted in a way that ensured that the spread of the virus was under control. During this time, the trend of virtual clinical trials emerged. In virtual clinical trials, the patients can register online and they are monitored virtually from their homes. This scenario increased the demand for online cognitive assessment and training in healthcare in which the researchers could assess the patients virtually. This trend of virtually monitoring the patients proved to be quite effective and created awareness about online assessment. This is expected to fuel the global market size during the forecast period.

LATEST TRENDS

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Increasing Trend of Virtual Clinical Trials to Augment Demand for Cognitive Assessment and Training in Healthcare

In clinical trials, cognitive assessments are helpful in determining the effects of a drug being studied in patients by detecting changes in their cognitive function. This helps assess whether the treatment has impaired or improved the patient’s cognitive abilities. After the onset of the COVID-19 outbreak, the trend of conducting virtual clinical trials emerged to control the spread of the virus. Virtual clinical trials are also called remote or decentralized trials. This type of clinical trial is conducted using virtual patient monitoring, wearable medical devices, remote SDV, and other advanced technologies.

Decentralized clinical trials involve the remote participation of patients and digital monitoring of their performance, which has positively impacted the market growth. The demand for decentralized clinical trials has increased recently as they eliminate the geographical barriers of the patients participating in research studies. For instance, as per an article published by mdgroup in 2023, 70% of patients are not present for more than 2 hours at the research site for monitoring. Whereas in decentralized trials, the patients can be monitored for more hours and as required by the researchers. In digital cognitive assessments and training in healthcare, the registered patients can fill the assessment form online without going to the research center. The researchers can also easily review the assessments without actually meeting the patients. The incorporation of digital cognitive assessment and training in healthcare has proved to be quite helpful and convenient for virtual clinical trials. This factor has increased the awareness of digital cognitive assessments among patients and is responsible for the market’s growth.

DRIVING FACTORS

Increasing Number of Clinical Trials for Neurological Diseases to Fuel Demand for Cognitive Assessment

It is very important to study cognitive changes in the preclinical and clinical studies for neurological diseases, such as Alzheimer’s. Therefore, the increasing number of clinical trials for these diseases has been one of the major factors fueling the demand for cognitive assessment. For instance, as per data published by the National Center for Biotechnology Information (NCBI), till January 2022, there were around 143 drug candidates which were studied in 172 clinical trials for Alzheimer’s disease. A total of 50,575 patients were required for conducting the currently ongoing clinical studies. These patients are also needed to be monitored for cognitive change regularly.

Furthermore, the increasing awareness and prevalence of neurological diseases has been fueling the demand for these products and services.

• For instance, as per data published by the Alzheimer’s Association, in 2019, around 57 million people were suffering from dementia. This number is expected to reach 153 million by 2050.

This increasing prevalence of neurological disorders and growing number of clinical trials for these diseases has been fueling the market’s growth.

RESTRAINING FACTORS

High Costs and Limitations Associated with Development of Tests Cognitive Assessment and Training in Healthcare May Limit Market Growth

Awareness regarding cognitive assessments has increased recently, and this factor has boosted the demand for cognitive assessment tests. However, the high costs associated with digital cognitive assessments limits their adoption among the population. For instance, digital assessment can cost around USD 10-50 per test in the U.S.

The market players are trying to develop innovative solutions and services cognitive assessment and training in healthcare. However, these solutions need to pass through clinical trials to test their efficiency and approve their commercialization. The development and approval of these solutions can take a long time. Moreover, with the increasing prevalence of diseases, such as Alzheimer’s and dementia, patients are looking for more effective and long term treatment options. This can decrease the adoption of these solutions, which often take a long time to develop. These factors are expected to restrict the market growth during the forecast timeframe.

SEGMENTATION

By Assessment Type Analysis

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Increasing Prevalence of Cognitive Impairment is Responsible for the dominance of the Pen and Paper Segment

Based on assessment type, the market is segregated into pen and paper, biometrics, and hosted. The pen and paper segment dominated the cognitive assessment and training in healthcare market share in 2022. These tests are used for the detection of short-term memory loss, effects of brain injury, cognitive impairment, and other cognitive conditions. The dominance of the segment is attributed to the increasing prevalence of cognitive impairment and affordibility of these tests.

Furthermore, the biometrics segment is expected to record the fastest CAGR during the forecast period. The high growth of this segment is attributed to the robust efficiency of these tests and easy usability of these tests making it convinieent to be used as home. Hosted cognitive assessments refer to tests performed under the guidance of a doctor or healthcare professional. These types of tests are generally performed at the doctor’s clinic for the diagnosis and treatment of neurological disorders. The hosted segment is expected to register a significant CAGR during the analysis period. The increasing prevalence of neurological diseases is responsible for the segment’s growth.

By Application Analysis

Increasing Adoption of Cognitive Assessment in Clinical Trials to Fuel Segment Growth

Based on application, the market is segmented into screening and diagnostics, clinical trials, brain training, and others.

The clinical trials segment dominated the market in 2022 and is expected to display a significant growth rate during the forecast period. The growth of the segment is attributed to the increasing adoption of thesae solutions in clinical trials and rising awareness about digital cognitive assessment tests. Moreover, the key players have increased their focus on the development of interactive training solutions which has fueled its adoption. 

• CogniFit Inc. has developed an app which has interactive brain training games. This app helps enhance various cognitive skills including concentration, reaction time, and others. It also assists patients in recovering from memory loss.

The screening & diagnostics segment is expected to showcase the fastest growth rate during the forecast period. The growth of the segment is attributed to the increasing penetration of digital assessment tests to screen patients with cognitive disorders and rising prevalence of neurological diseases. Cognitive assessments are very helpful to the doctors in effectively diagnosing the deficiency and further directing the type of treatment required for the disease. This factor is also responsible for the segment’s growth. The brain training segment is also expected to record a significant CAGR throughout the forecast period.

REGIONAL INSIGHTS

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The North America region accounted for the largest revenue share in the market by generating a revenue of USD 2.09 billion in 2022. The growth of the market in the region is attributed to the increasing prevalence of cognitive disorders, which necessitates innovative diagnosis and treatments.

• For instance, as per data published by the Centers for Disease Control and Prevention (CDC) in 2019, the prevalence of Subjective Cognitive Decline (SCD) was 11% in the U.S. Moreover, the prevalence of this disorder was 11.7% in the population aged 65 years and older.

Various initiatives and programs, such as the Cognitive Assessment & Care Plan Services by the U.S. government have also been accelerating the market’s growth in the region. As per this initiative, the Medicare can pay up to USD 266 for cognitive function assessment test.

The market in Europe is expected to record a significant growth rate during the forecast period. This growth is attributed to the rising awareness about cognitive disorders and increasing penetration of these assessments in the region. Moreover, the strong presence of reputed market players, such as Cambridge Cognition Ltd. and CogniFit Inc. in the region is also predicted to augment the market’s growth during the forecast period.

The market in the Asia Pacific region is expected to register a comparatively slower growth rate. However, the rising awareness about cognitive disorders and increasing focus of market players on expansion of their services in the region will fuel the market’s growth. The rest of the world region, which consists of Latin America and the Middle East & Africa regions, is also expected to demonstrate steady growth during the forecast period.

KEY INDUSTRY PLAYERS

Increasing Focus of Leading Players on Partnerships for Market Expansion is Responsible for Their Dominance

Cambridge Cognition Ltd., Cogstate Ltd., and CogniFit Inc. are some of the most prominent players in the market and accounted for the largest market share in 2022. This is due to their strong emphasis on the expansion of their services globally through mergers and partnerships with other players.

• For instance, in November 2022, Cambridge Cognition Ltd announced its expansion in the Chinese market through a strategic partnership with Luca Healthcare Limited, a digital screening, treatment, and management tools company.

Moreover, the market players have also increased their focus on strengthening their offerings to boost the awareness about them. This is expected to lead to the strong adoption of these solutions during the forecast period.

• For instance, in October 2022, Cambridge Cognition Ltd. announced that it had acquired eClinicalHealth. This acquisition strengthened the company’s virtual clinical trial offerings.

Other leading companies, such as CNS Vital Signs, LLC., WIRB-Copernicus Group, and Signant Health have been focusing on expanding their services to fuel their presence in the global market. Such strategic initiatives are expected to strengthen their market position over the coming years.

LIST OF KEY COMPANIES PROFILED:

• Cambridge Cognition Ltd (U.K.)


• CogniFit Inc. (U.S.)


• Cogstate Ltd. (Australia)


• CNS Vital Signs, LLC. (U.S.)


• WIRB-Copernicus Group (U.S.)


• Signant Health (U.S.)


• Posit Science (U.S.)


• Clario (U.S.)


• Cognetivity Neurosciences (Canada)

KEY INDUSTRY DEVELOPMENTS:

• March 2023 - Clario announced its partnership with technology startup ArtiQ to increase chances in respiratory clinical trials that need spirometry data.


• November 2022 – Clario announced the release of new data confirming its leadership in providing remote data collection technologies that enable decentralized and hybrid clinical trials.


• October 2022 – Cambridge Cognition Ltd announced that it had entered an agreement to acquire eClinicalHealth Ltd, a full-service digital technology provider.


• June 2022 – Cogstate Ltd. announced that it had joined the Digital Medicine Society’s (DiMe) Alzheimer’s disease and Related Dementias (ADRD) Digital Measures Development Project.


• May 2022 – Clario announced the expansion of its partnership with Cogstate Ltd. to provide data quality solutions together to support the needs of neuroscience assessments in therapeutic development.

REPORT COVERAGE

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The cognitive assessment and training in healthcare market report provides a detailed competitive landscape. It also includes key insights, such as top industry developments covering partnerships, mergers, and acquisitions. Additionally, it focuses on key points, such as new solution launches in the market. Furthermore, the report covers regional analysis of different segments, profiles of key market players, market trends, and the impact of COVID-19 on the market. The report consists of quantitative and qualitative insights that have contributed to the market's growth.

Report Scope & Segmentation