The cognitive diagnostics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cognitive Diagnostics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cognitive diagnostics market has grown exponentially in recent years. It will grow from $4.13 billion in 2023 to $5.07 billion in 2024 at a compound annual growth rate (CAGR) of 22.9%. The growth in the historic period can be attributed to increased prevalence of cognitive disorders, advances in neuroimaging technology, growing awareness of early diagnosis, a rising geriatric population, government funding for research, expanding clinical trials, and increased demand for personalized medicine.
The cognitive diagnostics market is expected to reach exponential growth in the next few years. It will grow to $11.6 billion in 2028 at a compound annual growth rate (CAGR) of 23%.
The growth in the forecast period can be attributed to growing adoption of digital health technologies, increased focus on early and preventive diagnostics, rising prevalence of neurodegenerative diseases, development of advanced biomarkers, expansion of telemedicine and remote monitoring, enhanced research and development investments, and growing healthcare expenditure. Major trends in the forecast period include integration of AI and big data analytics, expansion of digital cognitive assessment tools, increased use of wearable devices for cognitive monitoring, advances in biomarker discovery, rise in personalized and precision medicine, growth of remote and telehealth diagnostics, development of integrated care solutions, and increased collaboration between tech companies and healthcare providers.
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Scope Of Cognitive Diagnostics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cognitive Diagnostics Market Overview
Market Drivers –
The escalating incidence of neurological disorders is expected to propel the growth of the cognitive diagnostics market going forward. Neurological disorders are medical conditions that affect the brain, spinal cord, and nervous system, impairing their function and leading to symptoms such as cognitive decline, motor dysfunction, and sensory abnormalities. The rise in neurological disorders is driven by an increased prevalence of age-related conditions such as Alzheimer’s and Parkinson’s disease. Moreover, hereditary factors, along with environmental toxins, stress, unhealthy diets, and sedentary lifestyles, contribute to the increasing prevalence of neurological disorders. Cognitive diagnostics are used in neurological diseases to assess, detect, and monitor cognitive impairments, aiding in the early diagnosis and management of conditions like Alzheimer’s and Parkinson’s disease. For instance, in May 2024, according to a report by the Alzheimer’s Association, a U.S.-based nonprofit organization dedicated to Alzheimer’s care, support, and research, the number of Americans aged 65 and older diagnosed with Alzheimer’s dementia rose from 6.5 million in 2022 to an estimated 6.9 million in 2024. Therefore, the escalating incidence of neurological disorders is driving the growth of the cognitive diagnostics market.
Market Trends –
Major companies operating in the cognitive diagnostics market focus on real-time insights into cognitive health with technological advancements in diagnostic tools such as neuropsychological testing platforms, to enhance accuracy, efficiency, and comprehensiveness in cognitive assessments. Neuropsychological testing platforms are specialized digital tools designed to assess cognitive functions through standardized tests, including memory, attention, and problem-solving skills. For instance, in April 2024, BrainCheck Inc., a US-based digital health company powering positive progress in cognitive health, unveiled its comprehensive digital cognitive assessment platform at the American Academy of Neurology (AAN) Annual Meeting, showcasing its advanced tools for cognitive screening, assessment, and care planning. The platform, including Assess, Screen, and Plan, offers clinicians a modern solution to streamline cognitive health management with mobile, digital technology that ensures accuracy and ease of use. This innovation aims to enhance the efficiency and quality of care for patients and providers by offering nuanced, evidence-based recommendations and comprehensive care planning.
The cognitive diagnostics market covered in this report is segmented –
1) By Diagnosis: Brain Imaging Tests, Laboratory Testing, Mental Status Testing, Rapid Home Screening Tests, Neuropsychological Testing, Electroencephalogram (EEG), Cognitive Function And Behavioral Tests, Neuropsychiatric Inventory Questionnaire (NPI-Q)
2) By Indication: Alzheimer’s Disease, Attention Deficit Or Hyperactivity Disorder, Dementia, Epilepsy-Related Cognitive Dysfunction, Mild Cognitive Impairment, Parkinson’s Disease-Related Cognitive Dysfunction, Stroke-Related Cognitive Dysfunction, Traumatic Brain Injury, Other Indications
3) By End User: Hospitals, Neurology Clinics, Cognitive Behavioral Therapy Centers, Rehabilitation Centers, Academic And Research Institutes, Diagnostic Imaging Centers, Home Care Settings
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Regional Insights –
North America was the largest region in the cognitive diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cognitive diagnostics market are Cogstate Ltd., Viz.ai, Redcliffe Labs, Mind Maze, Neurocare Group AG, Pathway Genomics, Diadem srl, Cambridge Cognition Ltd., Posit Science Corporation, Anderson Diagnostics & Labs., Altoida AG, BrainScope Company Inc., Neurotrack Technologies Inc., Cognetivity Neurosciences Ltd., BrainCheck, Cyclops MedTech Pvt Ltd, Twill Inc., CN Diagnostics, Savonix Inc., Cognivue Inc., NeuroCog Trials, Pearson Clinical, Re:Cognition Health, CogniSense, The Neuropsychology Consultants
Table of Contents
1. Executive Summary
2. Cognitive Diagnostics Market Report Structure
3. Cognitive Diagnostics Market Trends And Strategies
4. Cognitive Diagnostics Market – Macro Economic Scenario
5. Global Cognitive Diagnostics Market Size and Growth
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32. Global Cognitive Diagnostics Market Competitive Benchmarking
33. Global Cognitive Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cognitive Diagnostics Market
35. Cognitive Diagnostics Market Future Outlook and Potential Analysis
36. Appendix
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