The Digital Brain Health Market to Reach $1 Billion by end of 2012 According to New SharpBrains Report
WASHINGTON, Dec. 4, 2012 /PRNewswire/ — SharpBrains, the leading market research firm tracking brain health innovation, announced today the release of an in-depth industry report titled The State of the Digital Brain Health Market 2012-2020 – Transforming Health with Digital Tools to Assess, Monitor, and Enhance Cognition across the Lifespan. The biennial report provides readers with key insights into the digital revolution transforming brain health and heath overall, with trend analysis and detailed revenue growth forecasts.
“We want to provide the most comprehensive analysis and forecast of the substantial transformation underway within the brain health field,” said Alvaro Fernandez, CEO of SharpBrains, recently named a Young Global Leader by the World Economic Forum. “Despite the economic downturn this market has still grown from $600 million in annual revenues in 2009 to more than $1 billion by the end of 2012. With more than two billion people worldwide currently suffering from brain-based health and productivity challenges, it is rewarding to see a new generation of technologies and methodologies being developed and implemented to confront this challenge in efficient and scalable ways.”
SharpBrains forecasts the market for digital brain health to grow exponentially to between $4 and $10 billion by 2020, with $6 billion being the most likely scenario. It also predicts the Asia Pacific region to likely surpass North America and Europe by 2017. The report analyzes data and trends in four key customer segments–led by consumers increasingly looking to proactively manage and improve their brain health and performance outside clinical settings–and in two types of digital technology that are already going mainstream:
- Software including fully computerized Web-based and mobile cognitive assessments, cognitive training and cognitive behavioral therapies
- Biometrics-based monitoring and brain training solutions that measure physiological responses such as heart rate variability and electroencephalography.
As part of the report, SharpBrains conducted in-depth analysis of more than 200 companies in the space–identifying 5 Market Leaders and 10 Companies to Watch in 2013/2014–, asked more than prominent scientists to identify the most important innovation opportunities from their published research, updated 10 innovation case studies, and surveyed over 3,000 experts and early-adopters. Summarized survey highlights include:
- 94% Agree/Strongly Agree with “Addressing cognitive and brain health should be a healthcare priority”
- 83% Agree/Strongly Agree with “I would personally take a brief assessment every year as an annual mental check-up’”
- 83% Agree/Strongly Agree with “Adults of all ages should take charge of their own ‘brain fitness,’ without waiting for their doctors to tell them to”
- 73% Agree/Strongly Agree with “Digital technologies can significantly complement other behavioral and drug-based interventions”
To purchase the full report as a single or enterprise license, visit http://www.sharpbrains.com/market-report/. The single-user license is $995.00 and the enterprise license is $2,995.00. Customers that purchase the report will also gain access to more than 30 hours of recorded panels and workshops from the 2012 SharpBrains Virtual Summit: Optimizing Health through Neuroplasticity, Innovation and Data, a four-day event that convened two hundred industry and science leaders in June of 2012. The recordings feature discussions among CEOs, technologists, and key scientists working to advance the field.
SharpBrains is an independent market research firm and think tank tracking health and productivity applications of cognitive and affective neuroscience, with special emphasis on non-invasive neurotechnology and the growing needs of an aging population.
The company maintains a biannual state-of-the market report series, produces an annual global and virtual professional conference, and maintains a consumer-facing guide, The SharpBrains Guide to Brain Fitness. SharpBrains.com, the company’s educational blog, is one of the most popular brain & innovation blogs with 100,000+ monthly readers and 45,000+ eNewsletter subscribers. To learn more about SharpBrains’ work, visit www.sharpbrains.com.