Cognitive Diagnostics Market Report 2024

This Cognitive Diagnostics market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

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 during the historic period can be attributed to the increased prevalence of cognitive disorders, advances in neuroimaging technology, greater awareness of early diagnosis, a growing geriatric population, government funding for research, the expansion of clinical trials, and a rising 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 during the forecast period can be attributed to the increasing adoption of digital health technologies, a heightened focus on early and preventive diagnostics, the rising prevalence of neurodegenerative diseases, the development of advanced biomarkers, the expansion of telemedicine and remote monitoring, enhanced investments in research and development, and growing healthcare expenditure. Major trends expected in this period include the integration of AI and big data analytics, the expansion of digital cognitive assessment tools, increased use of wearable devices for cognitive monitoring, advances in biomarker discovery, a rise in personalized and precision medicine, growth in remote and telehealth diagnostics, the development of integrated care solutions, and increased collaboration between technology companies and healthcare providers.

The increasing prevalence of neurological disorders is anticipated to drive the growth of the cognitive diagnostics market in the future. Neurological disorders are conditions that affect the brain, spinal cord, and nervous system, leading to symptoms such as cognitive decline, motor dysfunction, and sensory abnormalities. The rise in these disorders is largely due to the growing incidence of age-related conditions like Alzheimer's and Parkinson's disease. Additionally, hereditary factors, environmental toxins, stress, poor diets, and sedentary lifestyles all contribute to the growing prevalence of neurological disorders. Cognitive diagnostics play a crucial role in evaluating, detecting, and monitoring cognitive impairments, which aids in the early diagnosis and management of diseases such as Alzheimer's and Parkinson's. For example, in May 2024, the Alzheimer's Association, a U.S.-based nonprofit organization focused on Alzheimer's care and research, reported an increase in the number of Americans aged 65 and older diagnosed with Alzheimer's dementia, rising from 6.5 million in 2022 to an estimated 6.9 million in 2024. Thus, the rising incidence of neurological disorders is driving the growth of the cognitive diagnostics market.

Key companies in the cognitive diagnostics market are advancing real-time cognitive health insights through technological innovations in diagnostic tools, such as neuropsychological testing platforms. These platforms are specialized digital tools used to assess cognitive functions through standardized tests, including memory, attention, and problem-solving skills. For instance, in April 2024, BrainCheck Inc., a U.S.-based digital health company, introduced its digital cognitive assessment platform at the American Academy of Neurology (AAN) Annual Meeting. The platform features advanced tools for cognitive screening, assessment, and care planning, including modules for Assess, Screen, and Plan. It offers clinicians a modern solution to manage cognitive health with mobile, digital technology that ensures accuracy and ease of use, aiming to improve the efficiency and quality of care through detailed, evidence-based recommendations and comprehensive care planning.

In July 2024, Lantheus Holdings, Inc., a U.S.-based radiopharmaceutical company, acquired Meilleur Technologies Inc. for an undisclosed amount. This acquisition is intended to strengthen Lantheus's portfolio in Alzheimer's disease diagnostics by integrating Meilleur's NAV-4694, which detects beta-amyloid plaques, with Lantheus's existing PET agent MK-6240 for tau tangles. This combination allows Lantheus to provide a comprehensive diagnostic solution for Alzheimer's, supporting both early detection and the evaluation of disease-modifying treatments. Meilleur Technologies Inc. is a U.S.-based company specializing in radiopharmaceutical diagnostics for cognitive conditions.

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.

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.

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

Cognitive diagnostics involves assessing and evaluating an individual's cognitive functions to diagnose and understand cognitive disorders or impairments. This field focuses on identifying issues related to memory, attention, language, problem-solving, and other cognitive abilities. It employs a range of methods and tools to analyze cognitive performance and detect conditions such as dementia, Alzheimer’s disease, traumatic brain injury, and other cognitive impairments.

The primary types of cognitive diagnostics include brain imaging tests, laboratory tests, mental status assessments, rapid home screening tests, neuropsychological testing, electroencephalograms (EEG), cognitive function and behavioral tests, and the neuropsychiatric inventory questionnaire (NPI-Q). Brain imaging tests, like MRI and CT scans, are used to visualize brain structure and function to identify abnormalities that might indicate cognitive disorders. Cognitive diagnostics are applied to conditions such as 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, and more. The end users of cognitive diagnostics include hospitals, neurology clinics, cognitive behavioral therapy centers, rehabilitation centers, academic and research institutes, diagnostic imaging centers, and home care settings.

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

The cognitive diagnostics market consists of revenues earned by entities by providing services such as consultation services, rehabilitation services, and therapy services. The market value includes the value of related goods sold by the service provider or included within the service offering. The cognitive diagnostics market also includes sales of cognitive assessment software, neuropsychological testing kits, smartwatches and wearables with cognitive monitoring capabilities, and brain training software and apps. 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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