Cognitive Diagnostics Market anticipated to reach US$ 238.3 Billion by 2033, at a CAGR of 8.0%
As per Future Market Insights latest industry analysis, the valuation for the global Cognitive Diagnostics market sales is estimated to reach US$ 110.2 Billion in 2023 and is projected to exhibit a CAGR of 8.0% over the forecast period, with an estimated valuation of US$ 238.3 Billion by 2033.
Several causes of brain problems or cognitive disorders include closed head injuries, contact with neurotoxins (toxic substances), genetics, infections, strokes, and tumours. Depending on the area of the brain that is impacted, a person may have a certain form of cognitive problem. Communication issues could result from, for instance, a tumour in the speech cisterns of the brain. In another illustration, a brain infection that affects the motor recentres would cause problems with movement. Ageing is also a factor in the development of cognitive problems.
Cognitive diagnostics increasingly use digital health technologies like wearables and smartphone apps. These tools can monitor a patient’s cognitive health and give medical personnel real-time information for more precise diagnosis and management.
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The market for cognitive diagnostics is seeing an increase in collaboration and partnerships between academic institutions, technological businesses, and healthcare providers. These partnerships can foster creativity, provide access to technology and techniques for cognitive disorders diagnosis, and hasten the creation of novel treatments for these conditions. For example, in June 2022, Avant Institute, in partnership with COGNIVUE, was awarded a grant by the Davos Alzheimer’s Collaborative to launch an innovative early-detection program for Alzheimer’s disease.
Overall, the cognitive diagnostics market is expected to continue to expand and evolve with new technologies and trends emerging. As the prevalence of cognitive disorders continues to rise, the demand for accurate and reliable diagnostic tools will remain high, driving innovation and investment in this field.
Key Takeaways from Market Study
- Laboratory testing is the leading segment of diagnosis and holds about 24.8% market value share in the global market in 2022 because laboratory testing offers vital insight into the underlying neurological diseases that can cause cognitive impairment.
- Alzheimer’s disease is set to lead in terms of indication of cognitive diagnosis with a projected market value share of around 24.0% by 2022, due to the prevalence of Alzheimer’s disease and dementia rising with the ageing population globally.
- By end users, hospitals held a share of around 29.2% in 2022; because The use of cognitive diagnostics tools and technologies in hospitals can lead to improved patient outcomes by enabling early detection, accurate diagnosis, and timely treatment of cognitive disorders.
- The U.S. held a value share of around 26.8% in 2022. The market is expected to expand further as a result of technological advancements, growing consumer awareness, and healthcare reforms.
“Rising prevalence of Dementia and Alzheimer’s disease, technological advancement, personalized medicine, digital health, point-of-care testing, collaboration and partnerships, and government initiatives and funding are propelling the cognitive diagnosis market.” Says an analyst of Future Market Insights.
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The key players are focusing on collaborative agreements with other market players and research organizations to improve their market position.
The companies are focusing on accelerating the pace of innovation, prioritizing key platforms and geographies, and restructuring operations while expanding their business through agreements and partnerships around the world.
A few examples of strategies acquired by the key players:
- In January 2023, Cognetivity Neurosciences announced that its CognICA platform successfully monitors cognitive performance in Alzheimer’s patients receiving disease-modifying therapy.
- In May 2022, Diadem announced the AlzoSure Predict blood test for precise prediction of Alzheimer’s disease progression six years before diagnosis.
- Cognetivity Neurosciences
- Cognivue, Inc.
- Cogstate Ltd.
- Cambridge Cognition Ltd.
- Diadem srl
- CN Diagnostics
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the cognitive diagnosis market in its latest study, presenting a historical demand assessment of 2012 to 2022 and projections for 2023 to 2033. The global cognitive diagnosis market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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Key Market Segments Covered in the Cognitive Diagnostics Industry Research
- Brain Imaging Tests
- Magnetic Resonance Imaging (MRI)
- Computerized Tomography (CT)
- Positron Emission Tomography (PET) and PET/CT
- Laboratory Testing
- Cerebrospinal fluid (CSF)
- Blood Tests
- Mental Status Testing
- Mini-Mental State Exam (MMSE)
- Montreal Cognitive Assessment (MoCA)
- Rapid Home Screening Tests
- Neuropsychological Testing
- Electroencephalogram (EEG)
- Cognitive Function & Behavioral Tests
- Neuropsychiatric Inventory Questionnaire (NPI-Q)
- Alzheimer’s disease
- Attention deficit/hyperactivity disorder
- Epilepsy-Related Cognitive Dysfunction
- Mild Cognitive Impairment
- Parkinson’s Disease-related Cognitive Dysfunction
- Stroke-related Cognitive Dysfunction
- Traumatic Brain Injury
- Neurology Clinics
- Cognitive Behavioral Therapy Centers
- Rehabilitation Centers
- Academic and Research Institutes
- Diagnostic Imaging Centers
- Home Care Settings
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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