The market for cognitive assessment is significantly influenced by the sectors of clinical trials and corporate training and recruitment, which are contributing to both the volume and scale of trials. Additionally, the rapid increase in the global aging population, coupled with the rising integration of cognitive assessment tools in the academic field, is further propelling worldwide adoption. The cognitive assessment market is experiencing robust growth, driven by innovations such as gamification and the digital transformation of technology. Notably, advancements that enable the synchronization of assessments with wearable devices are anticipated to open new avenues for cognitive assessment services in the upcoming years. In Europe, the cognitive assessment market within the healthcare sector is projected to grow at a compound annual growth rate (CAGR) of 27.7%, with expectations to reach approximately US$ 2,606.5 million by 2025, up from US$ 372.2 million in 2017.
In 2017, the global cognitive assessment market was primarily led by software revenue; however, this trend is expected to shift during the forecast period, as the service market is poised to capture a larger share. The service segment is anticipated to exhibit the highest growth rate, reflecting the strategic initiatives taken by leading companies to diversify their offerings. This segment encompasses both traditional project and study management services, as well as an increasing volume of consultancy and tailored development work aimed at clients involved in recruitment and wearable technology projects.
Our analysis categorizes the cognitive assessment market by component, application, and end-user. The market is divided into software and service components. These cognitive assessment tools are utilized across various end-user sectors for multiple purposes. Primarily, they are employed in clinical trials to assess and treat patients with Alzheimer?s disease and other forms of dementia. However, in the coming years, sectors such as education, recruitment, and training are expected to leverage the potential of these tools. Consequently, the cognitive assessment market is segmented by application into scientific research, clinical trials, academic assessments, corporate training and recruitment, and others. Furthermore, the market is categorized by end-users, which include healthcare, enterprises, education, sports, government, defense, and additional sectors. Geographically, the cognitive assessment market is analyzed across North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
Europe is a diverse region comprising over 70 countries, and it boasts a highly developed healthcare and education sector, which drives the demand for cognitive assessment tools. The region's advanced IT infrastructure also supports the increased utilization of these tools. Over time, the deployment of cognitive software across various end-user sectors in Europe is expected to reach saturation, leading to a growing interest in the services associated with cognitive assessment tools. The rising need for extensive training sessions to help individuals address their weaknesses, along with technological advancements, is further fueling the growth of cognitive assessment services in the forecast period. While major cognitive assessment service providers are predominantly located in North America, particularly in the United States, the market is also experiencing rapid growth in other regions, including APAC and various European countries. Key players in the cognitive assessment market include Cambridge Cognition Ltd, Groupe SBT, ImPACT Applications, Thomas International Ltd., Quest Diagnostics, Prophase, LLC, Cogstate Ltd., ERT Clinical, CogniFit, Neurocog Trials Inc., Bracket, Brain Resource, Posit Science Corp., Cogniciti, and Pearson Education, among others.