Cognitive Assessment & Training in Healthcare Market Could Reach $45 Billion by 2026
Palm Beach, FL – December 23, 2020 – The cognitive assessment and training in healthcare market is positioned to have significant growth through the next several years. Cognitive assessment evaluates important areas of brain function. These areas include memory, concentration, processing speed, language, and reasoning capabilities. Cognitive assessments are critical to complete wellness because they have set a personalized benchmark of brain health for future comparison. A baseline cognitive assessment provides a reference point to measure against in case of problems or concerns (major illness or brain injury). Cognitive training or brain training is a tool, which can be utilized by educators and healthcare professionals to supplement and help enhance the therapeutic interactions with clients. A recent report said that the global cognitive assessment and training in healthcare market is forecast to reach USD 16.45 Billion by 2026… which was surpassed by another report from ReportsAndData which said The cognitive assessment and training in healthcare market is forecasted to grow at a rate of 32.6% during the forecast period and reach USD 45 Billion in 2026. Active healthcare tech companies in the markets this week include Cognetivity Neurosciences Ltd. (OTCQB: CGNSF) (CSE: CGN) (CGN.CNQ), COMPASS Pathways plc (NASDAQ: CMPS), WELL Health Technologies Corp. (OTCPK: WLYYF) (TSX: WELL), Teladoc Health (NYSE: TDOC), Exact Sciences Corp. (NASDAQ: EXAS).
The ReportsAndData.com report said: “Strong evidence proves the fact that mental activities help in minimizing the risk of age-related cognitive issues like dementia. The market is forecasted to witness a significant growth during the forecast period. One of the mentionable facts supporting the market growth is the continuous rise in geriatric population and associated elevated occurrence rate of memory loss and other cognitive issues like Alzheimer’s disease. The mentioned cognitive issues are common with growing age. However, findings from different studies have established the fact that behavioral interventions helps in enhancing and maintaining cognitive performance in the latter part of one’s life. At present, there are no medications for conditions like dementia and Alzheimer’s disease, which has resulted in elevated dependence on behavioral interventions on the part of geriatric clinician.”
Cognetivity Neurosciences Ltd. (CSE: CGN) (OTCQB: CGNSF) BREAKING NEWS: Cognetivity Neurosciences Advances to TMCx Full Accelerator Program to Fast Track US Commercial Development – Cognetivity Neurosciences (the “Company” or “Cognetivity”) today announced that it has been selected by the prestigious Texas Medical Center Innovation Accelerator (TMCx) as one of seven members of the TMCx program. The TMCx is dedicated to identifying breakthrough healthcare technologies and enabling their subsequent commercialization.
The selection is the culmination of a rigorous multi-round selection process. 170 applicants from 20 different countries originally applied, with 21 making it through to the Bootcamp phase and just seven standout healthcare innovators invited to join the full accelerator programme. Cognetivity is the only non-US-based company to join this select cohort.
As a part of the exclusive cohort, Cognetivity will gain access to significant medical networks across the US which are actively looking to advance innovation in order to confront the greatest challenges in healthcare today. Initial selection phases were based on factors including technological novelty and strength, addressable market size, and overall fit for the TMCx program and partners. The Bootcamp phase allowed Cognetivity to begin exploring commercial opportunities and potential partnerships with TMC’s member institutions and the level of interest and positive feedback received from those institutions was a key factor in the companies chosen to advance.
Notable cohorts from the 2019 fall program included medical imaging platform Arterys which in May, 2020 announced its seventh USFDA approval and $23M in financing bringing its total raised to over $71M. “Having such immediate access to an engaged network of potential US commercial partners enables companies like ours, with unique technology able to help address a major health crisis, to break through the noise and make meaningful progress quickly.” said Sina Habibi, Cogentivity founder and CEO. “We have been incredibly impressed with the quality of the TMCx program throughout and already have some very exciting partnership opportunities evolving rapidly with some of the TMC members. We look forward to strengthening those relationships and developing further opportunities in the months ahead that build on our early traction in clinical use in the UK NHS.”
Potential savings that could be made through the early and accurate diagnosis of Alzheimer’s have been estimated by the Alzheimer’s Association at up to $7.9 trillion in the US alone. Cognetivity’s novel approach to cognitive testing enables healthcare providers to deliver a highly-sensitive and non-invasive test which can detect the very earliest signs of cognitive impairment. The five minute, iPad or smartphone-administered test, can be taken by patients remotely and requires no medical training or specialist supervision. Read this full release and more news for Cognetivity Neurosciences at: https://www.financialnewsmedia.com/news-cgn/
Other recent developments in the healthcare tech industry include:
COMPASS Pathways plc (NASDAQ: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, recently announced it has joined the Psychiatry Consortium, an international collaboration to accelerate drug discovery and development in areas of urgent, unmet medical need.
The Psychiatry Consortium, managed by Medicines Discovery Catapult, is a strategic collaboration of leading medical research charities and pharmaceutical companies focusing on the challenge of identifying and validating novel drug targets to address the unmet therapeutic needs of people living with mental health conditions. COMPASS Pathways will work alongside Psychiatry Consortium members and academic partners to advance research projects, providing support through access to funding, expertise, and commercialisation know-how. The Psychiatry Consortium seeks project proposals from the global psychiatric research community via biannual open calls for applications – the next call for applications will open in January 2021.
WELL Health Technologies Corp. (TSX: WELL) (OTCPK: WLYYF), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, recently announced that: WELL has entered into a share purchase agreement dated December 16, 2020 (the “Agreement”) with the shareholders of Adracare Inc. (“Adracare”), whereby WELL has agreed to acquire all of the issued and outstanding shares of Adracare (the “Transaction”). – Adracare is an omni-channel practice management platform serving over 6,800 healthcare practitioners in Canada, the United States, the United Kingdom, Australia and New Zealand. Adracare’s largest customer sectors include mental health, medicinal cannabis and physical therapy. – The Adracare platform was built to support providers of all sizes from SMB to large enterprises.
Teladoc Health (NYSE: TDOC), the global leader in whole person virtual care, recently announced that it has completed its merger with Livongo. The milestone marks completion of the most significant blending of capabilities and talent in the history of digital health. By joining the market leaders in virtual care and applied health signals, the combined company becomes the only consumer and healthcare provider partner to span a person’s entire health journey.
“Both Teladoc Health and Livongo were founded with the same mission: to create a new kind of healthcare experience, one that empowers people everywhere to live their healthiest life. Today’s news dramatically accelerates our ability to make this a reality for the tens of millions of consumers and healthcare professionals we serve around the world,” said Jason Gorevic, chief executive officer of Teladoc Health. “Together, our team will achieve the full promise of whole-person virtual care, leveraging our combined applied analytics, expert guidance and connected technology to deliver, enable and empower better health outcomes.”
Exact Sciences Corp. (NASDAQ: EXAS) recently announced the presentation of new data at the virtual 2020 San Antonio Breast Cancer Symposium (SABCS) building on the clinical value of the Oncotype DX Breast Recurrence Score® test. These data highlight the role of the test in further individualizing treatment decisions in early breast cancer.
“These latest presentations, including data from the RxPONDER trial, further highlight the unique value of the Recurrence Score®result in providing critical information to personalize and improve the quality of treatment decisions in node-negative and node-positive early breast cancer,” said Rick Baehner, MD, chief medical officer of Precision Oncology at Exact Sciences.
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