It has been reported that the brain slowly deteriorates as a person ages with the senses, memory and cognitive thinking abilities being affected the most. The deterioration of functions of the brain was explained by the loss of brain plasticity. Brain plasticity is the capacity of the nervous system to change its neural structure in reaction to environmental challenges. However research conducted in the last few years revealed that the brain retains the ability undergoe changes in size and shape in response to stimulation. Brain fitness is an umbrella term for techniques and strategies such as mental and cognitive training, neuroplasticity, neurogenesis, brain vascularization and others which are useful in keeping the brain fit. These are a set of mental exercises to sharpen the senses, memory and attention.
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Brain Fitness Market: Drivers and Restraints
The burgeoning demand for brain fitness generated owing to increasing incidence of ADHD, learning disorders, memory loss, brain injury and others is driving a large market. According to the The A.D.D. Resource Center, Inc., 12.9 percent of men and 4.9 percent of women will be diagnosed with the attention disorder at some points in their lifetimes, with the prevalence of attention disorder being 4 percent of American adults over the age of 18. The American Psychiatric Association estimates that 5% of children have ADHD, while the Centers for Disease Control and Prevention (CDC) estimates that 11% of U.S. children aged 4 to 17 suffer from ADHD.
The growing ageing population is another driver of the market. The number of people aged 60 years or older is expected to rise from 900 million to 2 billion between 2015 and 2050, representing a growth from 12% to 22% of the total global population, according to recent World Health Organization report. The prosperous baby boomer population of U.S. is another driver for the market owing to their desire to delay dementia and mental disorders. Thus a large market is well evident.
However the constraints such as lack of awareness, lack of experimental validation regarding the effectiveness and efficacy of the brain fitness therapy and opposition to clinical acceptance is hampering the brain fitness market. Actions by regulatory bodies such as the United States Federal Trade Commission (FTC) which sued companies selling “brain training” programs such as WordSmart Corporation and LearningRx, for deceptive advertising in 2015 is the greatest threat to the market.
Brain Fitness Market: Segmentation
To gain a bird’s eye view of the global brain fitness market, the report is segmented on the type, product, end users and region.
Based on the type, the global brain fitness market can be segmented as,
- Biofeedback Brain Fitness Training
- Cognitive Brain Fitness Training
- Visual Brain Fitness Training
Based on the product, the global brain fitness market can be segmented as,
- Brain Training Tools
Based on the end users, the global brain fitness market can be segmented as,
- Wellness clinics
Brain Fitness Market: Regional Wise Outlook
The global brain fitness market can be classified into the following region: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, and Middle East and Africa. North America, led by the U.S., is expected to drive the largest market share owing to the large incidence of neurological disorders,, ageing baby boomer population and large per capita income.
The Asia Pacific brain fitness market excluding Japan is anticipated to grow owing to the growing awareness and rising incomes. China and India are projected to lead the Asia Pacific brain fitness market growth. Germany, France and the U.K., are projected to be the largest drivers of the Europe brain fitness market. The Middle East and Africa brain fitness market is expected to be led by the gulf economies of Saudi Arabia, Kuwait, UAE and Qatar owing to their large wealth.
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Brain Fitness Market: Market Participants
Some of the major vendors operating in the global brain fitness market are AttenGo Ltd., Nintendo, CogniFit , NEEURO, PTE LTD, Synaptikon GmbH, BrainTrain, SMARTfit Inc., Applied Cognitive Engineering,BrainHQ, Lumos Labs, Inc., Total Brain Health, Advanced Brain Technologies, Cogstate, Cogmed, CNS Vital Signs, Lexia Learning, MyBrainTrainer, NovaVision, and others.