Digital Brain Health Market to Grow with a CAGR of 9.28% through 2028
Increase in the mental health awareness and increase
in the aging population is expected to drive the Global Digital Brain Health
Market growth in the forecast period, 2024-2028.
According to
TechSci Research report, “Digital Brain Health Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Digital Brain Health Market stood at USD 193.45 billion in 2022 and
is anticipated to grow with a CAGR of 9.28% in the forecast period, 2024-2028.
The awareness among individuals regarding Digital Brain Health has led to
favorable market conditions for the global Digital Brain Health market. Several
factors contribute to the growth of various Digital Brain Health products.
There is a
growing awareness of the importance of mental health and well-being, driven by
factors such as increased stress, anxiety, and depression in today's fast-paced
and digitally connected world. Digital brain health solutions offer tools for
stress reduction, mindfulness, and mental resilience. Individuals and
healthcare providers are recognizing the value of these solutions in addressing
mental health challenges, further propelling market growth.
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"Digital Brain Health Market.”
Rapid
advancements in technology, particularly in the fields of artificial intelligence
(AI), machine learning, and neuroinformatics, have led to the development of
sophisticated digital brain health solutions. These technologies enable the
creation of personalized brain training programs, early detection of cognitive
impairments, and innovative treatments for brain-related disorders. Consumers
are increasingly adopting these digital tools due to their effectiveness and
accessibility, which will further fuel market growth.
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The aging
population comes a higher prevalence of cognitive disorders, such as
Alzheimer's disease and various forms of dementia. These conditions can
severely impact the quality of life for individuals and their families. Even in
the absence of clinical disorders, age-related cognitive decline is common.
Many individuals seek solutions to maintain cognitive function and prevent decline
as they age.
In today's
fast-paced world, Digital brain health apps and platforms offer cognitive
training exercises designed to enhance memory, attention, problem-solving, and
other cognitive functions. These exercises can help individuals improve their
cognitive efficiency, making them better equipped to handle complex tasks and
information overload in a fast-paced environment. Digital brain health
solutions often include stress reduction techniques, such as mindfulness and
relaxation exercises. Managing stress is crucial in a fast-paced world, as it
can help individuals maintain focus and prevent burnout. Some digital brain
health programs focus on enhancing emotional resilience, helping individuals
cope with the pressures of a high-stress environment and bounce back from
challenges more effectively. Digital brain health solutions can be accessed
remotely through smartphones, tablets, and computers. This flexibility allows
individuals to engage in cognitive training and mental health support whenever
and wherever they need it, even in the midst of busy schedules. Many digital
brain health platforms use artificial intelligence (AI) to personalize
cognitive training programs. These programs adapt to each user's unique
cognitive profile, ensuring that the training is targeted and effective.
Personalization is especially valuable in a fast-paced world where individuals
have varied cognitive strengths and weaknesses. Some digital brain health
solutions offer attention-training exercises that help individuals improve
their ability to focus and concentrate amidst distractions. Enhanced attention
spans are essential for productivity in a fast-paced work environment.
The growing
awareness for wearables and mobile devices offers convenience, accessibility,
and real-time data collection. Brain health apps and platforms can be
seamlessly integrated with these devices, allowing users to engage in cognitive
exercises, track their cognitive performance, and monitor other health metrics
all in one place. This integration encourages consistent engagement and
data-driven insights into cognitive health.
In recent times,
Digital brain health has extended its applications across various domains,
encompassing education, corporate wellness, clinical rehabilitation, and mental
health support. With ongoing technological advancements and a deeper
comprehension of cognitive health, the anticipated expansion of potential uses
and advantages in the field of digital brain health is poised for further
growth. However, the Complex Regulatory Environment may hinder market growth.
Moreover, challenges related to Sensitive Health Data Handling and Compliance
with Data Protection Laws may pose obstacles to the Digital Brain Health market
in the near future.
The Global Digital
Brain Health Market is segmented into component, indication, end-user, regional
distribution, and company.
Based on its
formulation, the tablets segment has emerged as the predominant market leader,
as adults worldwide prefer the convenience of consuming Digital Brain Health in
tablet form. While the addition of natural coatings enhances dissolution,
factors such as efficacy and quality play a crucial role in absorption. These
elements are expected to drive the demand for tablet-based Digital Brain Health
throughout the forecast period. Tablets offer one of the most convenient ways
to consume these supplements, available for both prescription and
over-the-counter use, with a wide range of Digital Brain Health options.
However, there is a projected faster growth rate for Digital Brain Health
gummies during the forecast period, as they are increasingly favored by the
elderly and children due to their soft texture and diverse flavors. Tablets
remain the most widely used and cost-effective type of Digital Brain Health, enabling
manufacturers to maximize dosage within a given space while also boasting a
longer shelf life compared to capsules. Softgels, powder, and capsule forms of Digital
Brain Health are also expected to experience significant growth during the
forecast period. It is worth noting that capsule forms rank as the second most
consumed type of supplement globally.
Based on region,
North America segment is expected to grow during the forecast
period. North America, including the United States, is known as a
global hub for technological innovation. The region has a robust ecosystem of
tech companies, research institutions, and startups focused on digital health
and brain health solutions. North American companies have been at the forefront
of developing advanced AI and machine learning algorithms for personalized
brain training and cognitive assessment, giving them a competitive advantage.
North America boasts advanced healthcare infrastructure, including hospitals,
clinics, and research centers, which are well-equipped to integrate digital
brain health solutions into their services. The region has a significant number
of neurologists, psychiatrists, and neuropsychologists who can diagnose and
treat cognitive health issues, facilitating the adoption of digital brain
health solutions.
The
Asia-Pacific market is poised to be the fastest-growing market, offering
lucrative growth opportunities for Digital Brain Health players during the
forecast period. Factors such as countries in the Asia-Pacific region,
including China, India, and Japan, have been increasing their investments in
healthcare infrastructure and digital health technologies. These investments
are expected to drive the adoption of digital brain health solutions. Several
APAC countries, such as Japan and South Korea, have rapidly aging populations.
The prevalence of age-related cognitive health concerns in this region creates
a substantial market for digital brain health solutions.There has been a
growing awareness of mental health issues in APAC countries, leading to
increased interest in digital brain health solutions for stress management,
mental well-being, and cognitive fitness.
Major companies
operating in Global Digital Brain Health Market are:
- Advanced Oncotherapy PLC
- Cerner Corporation
- Core Solutions, Inc.
- Danfysik A/S
- Hitachi Ltd
- Holmusk Inc
- IBA Worldwide
- Qualifacts Systems, Inc.
- International Business Machines
Corporation (IBM)
- Linus Health Inc
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“The advancement
in technology and increasing Aging Population and Cognitive Health Concerns are
key drivers of the Digital Brain Health market. In recent years, The increasing
recognition of mental health challenges is propelling the acceptance of digital
brain health solutions designed to tackle stress, anxiety, and mood disorders.
As the stigma surrounding mental health issues diminishes, individuals are more
inclined to explore digital options for improving their mental well-being. Moreover,
the growing consumer emphasis on preventative healthcare products has enhanced
production and marketing efforts. To meet the demands of the market,
manufacturers are increasingly incorporating cutting-edge technologies with
high production efficiency. Rising consumer acceptance and continuous product
innovation will further ensure the growth of the Digital Brain Health and
supplements market in the coming years.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Digital
Brain Health Market – Global Industry Size, Share, Trends, Opportunity, &
Forecast 2018-2028 Segmented By Components (Software, Devices), By
Functionalities (Clinical Functionality, Administrative Functionality, Care
Plans/Health Management, Clinical Decision Support (CDS), Electronic Health
Records (EHR), E-Prescribing, Financial Functionality, Telehealth, Other), By
End-User (Hospitals & Clinics, Other), By Region & Competition”,
has evaluated the future growth potential of Global Digital Brain Health Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Digital Brain Health Market.
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