Neurocognitive Assessment And Rehabilitation Global Market Report 2024

The neurocognitive assessment and rehabilitation market size has grown strongly in recent years. It will grow from $12.26 billion in 2023 to $13.4 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The expansion observed during the historical period can be attributed to several factors, including a heightened occurrence of neurocognitive disorders, an aging population, increased awareness and education regarding these conditions, healthcare policies and funding allocations, advancements in diagnostic methodologies, and an escalation in mental health concerns.

The neurocognitive assessment and rehabilitation market size is expected to see strong growth in the next few years. It will grow to $19.23 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be attributed to several factors, including personalized medicine approaches, the implementation of corporate wellness programs, technological advancements, enhancements in insurance coverage and reimbursement policies, and the integration of services with telehealth platforms. Key trends expected in the forecast period encompass the adoption of wearable technology, advancements in regenerative medicine and neuroplasticity research, the development of personalized rehabilitation programs, the utilization of virtual reality (VR) and augmented reality (AR), and the promotion of interdisciplinary approaches.

The rise in the prevalence of neurological disorders is anticipated to drive the expansion of the neurocognitive assessment and rehabilitation market in the foreseeable future. Neurological disorders encompass medical conditions affecting the nervous system, including the brain, spinal cord, and nerves, often resulting in symptoms such as muscle weakness, coordination difficulties, and cognitive deficits. These disorders arise from a combination of factors, including an aging demographic and the increased incidence of age-related conditions such as Alzheimer's disease and Parkinson's disease. Neurocognitive assessment plays a crucial role in evaluating cognitive function, facilitating diagnosis and treatment planning for neurological disorders, while rehabilitation interventions aim to optimize neural functioning and improve quality of life through targeted therapies and strategies. For instance, data from the Alzheimer's Association, a US-based health organization, suggests that the prevalence of Alzheimer's dementia in individuals aged 85 and older in the US is projected to reach 2.4 million in 2024 and is expected to further increase to 6.7 million by 2060. Hence, the growing prevalence of neurological disorders is a key driver for the expansion of the neurocognitive assessment and rehabilitation market.

Major players in the neurocognitive assessment and rehabilitation market are innovating by developing advanced solutions, such as digital tests, to screen for cognitive impairment and gain a competitive advantage. Digital tests involve assessments conducted through digital platforms or software to evaluate various cognitive functions, including memory, attention, language, and executive function. For example, Neurotrack Technologies, a US-based company specializing in web-based screening tools and cognitive health programs, introduced a 3-minute digital test in November 2022 to screen for cognitive impairment. This tool enables primary care teams to efficiently screen for cognitive decline during annual wellness visits, facilitating early detection of neurodegenerative diseases such as Alzheimer's. With culturally-agnostic features enhancing accuracy and accessibility, this innovative solution addresses the critical need for cognitive screening in an aging population. It empowers healthcare providers to seamlessly integrate cognitive testing into clinical workflows, potentially revolutionizing dementia care and intervention strategies.

In September 2023, Enlyte Group LLC, a US-based software company, acquired Therapy Direct LLC from Upstream Rehabilitation for an undisclosed sum. This acquisition is aimed at bolstering Enlyte's clinical services and network offerings, demonstrating a commitment to delivering high-quality casualty solutions and services to meet evolving customer demands. Therapy Direct, a US-based subsidiary of Upstream Rehabilitation Inc., specializes in providing medical rehabilitation services, particularly physical therapy.

Major companies operating in the neurocognitive assessment and rehabilitation market are Cogstate Ltd, Posit Science Corporation, Lumos Labs Inc., The Magstim Company Ltd, MindMaze SA, CogniFit Inc, Cambridge Cognition Holdings plc, ImPACT Applications Inc., Neurotrack Technologies Inc., Neuroelectrics Corporation, SCHUHFRIED GmbH, Constant Therapy Health Inc., NeuronUP S.L., Qbtech AB, Neurometrix Inc., CogniVue Corporation, Neurohealth Associates LLP, BrainTrain Inc., NeuroEM Therapeutics Inc., HASOMED GmbH, Neurosoft Bioelectronics Corporation, AnthroTronix Inc., Flow Neuroscience AB, NPsych Limited.

North America was the largest region in the neurocognitive assessment and rehabilitation market in 2023. The regions covered in the neurocognitive assessment and rehabilitation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the neurocognitive assessment and rehabilitation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Neurocognitive rehabilitation entails therapeutic interventions aimed at diagnosing and addressing cognitive impairments stemming from neurological conditions, brain injuries, or psychological disorders. It encompasses a series of standardized tests and clinical assessments devised to gauge cognitive functions such as memory, attention, language, and problem-solving abilities.

The principal components of neurocognitive assessment and rehabilitation comprise neurocognitive assessment testing and neurorehabilitation therapy. Neurocognitive assessment testing involves evaluating an individual's cognitive functions - such as memory, attention, and problem-solving skills - to assess brain health and identify any impairments or disorders. Providers of these services include rehabilitation centers, hospitals, clinics, home care settings, and physiotherapy centers, catering to organizations ranging from large enterprises to small and medium-sized enterprises (SMEs).

The neurocognitive assessment and rehabilitation market research report is one of a series of new reports that provides neurocognitive assessment and rehabilitation market statistics, including the neurocognitive assessment and rehabilitation industry global market size, regional shares, competitors with neurocognitive assessment and rehabilitation market share, detailed neurocognitive assessment and rehabilitation market segments, market trends, and opportunities, and any further data you may need to thrive in the neurocognitive assessment and rehabilitation industry. These neurocognitive assessment and rehabilitation market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The neurocognitive assessment and rehabilitation market consists of revenues earned by entities by providing services for individualized rehabilitation planning, cognitive training, psychoeducation, and counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. The neurocognitive assessment and rehabilitation market also includes sales of software applications, wearable devices, virtual reality systems, brain stimulation devices, and specialized exercise equipment. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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