Cognitive disorders, also known as neurocognitive disorders, are defined as any disorder that significantly impairs the cognitive function of an individual. It is a mental health disorder that primarily affects learning, memory, perception, and problem solving, and includes amnesia, dementia, and delirium. Some of the common cognitive disorders include motor skill disorders, dementia, substance-induced cognitive impairment, developmental disorders, and amnesia. Increase in incidence of cognitive disorders is the major factor boosting the growth of the global cognitive disorders treatment market. According to the National Health Service in the U.K., roughly 20% of children were diagnosed with dyslexia in the U.K. in 2016. A Europe-based survey discovered that more than 20% in France and 15% in Germany suffered from dyslexia in the same year. According to a dyslexia center based in the U.S., one in five students of the entire student population was afflicted with the condition in the country, and more than 15% of the students suffered from dyslexia in Canada in 2016. Around 15 in 100 students per year are found to be dyslexic in India and 35 million to 40 million children suffered from dyslexia in India in 2016.
Improvement in patient security policies, rise in prevalence of cognitive disorders, increase in domestic and international investments in research and development on cognitive disorders, and surge in awareness about these conditions fuel the growth of the global cognitive disorders treatment market. The global market has been witnessing strong growth; however, skepticism surrounding the social pressure and stigma often attached with cognitive disorders and their treatment is likely to restrain the market. The situation is more critical in case of less developed countries, where medical advancements are yet to penetrate into. Furthermore, inadequate government initiatives could create bottlenecks for the market in underdeveloped countries, despite high unmet medical needs. Adoption of mental health software by hospitals and health care providers is expected to improve treatment and management for dealing with mental health issues. Additionally, growing adoption of tele-health that involves video conferencing that is helping the caregivers for coordinating with patients is propelling its adoption and likely to support growth of the global cognitive disorders market.
The global cognitive disorders treatment market can be segmented based on disorder, treatment, end-user, and region. In terms of disorder, the market can be categorized into dementia, dyslexia, Alzheimer’s disease, schizophrenia, schizoaffective disorder, delirium, and other cognitive disorders. Based on treatment, the global cognitive disorders treatment market can be classified into drug therapy, medication, complementary & alternative medicine, and electroconvulsive therapy. Research suggests that severe and complex mental health disorders require a combination of drugs and psychotherapy rather than a single method of treatment. Other types of therapies include hospitalization, case management, self-help plan, and art therapy. In terms of end-user, the global cognitive disorders treatment market can be divided into hospitals, specialty clinics, and others.
The global cognitive disorders treatment market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period owing to increase in patient population, better health care infrastructure, and presence of major players in the region. Europe is anticipated to account for the second largest market share from 2019 to 2027. Increase in investment, collaboration among research institutes and private players, and high awareness are expected to boost the growth of the market in the region during the forecast period. The cognitive disorders treatment market in Asia Pacific is likely to grow at a rapid pace owing to increase in population, high acceptance of new treatment methodologies, and improvement in health care infrastructure in countries such as India.
Key players in the global cognitive disorders treatment market include Netsmart Technologies, Pfizer, Inc., Forest Laboratories, Eli Lilly and Company, Accelerated Intelligence, Inc., AstraZeneca, Bristol-Myers Squibb Company, Wyeth, Teva Pharmaceutical Industries Ltd., and Biogen, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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