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New Report Finds A Brain Health Revolution in the Making, Driven by Digital Technology and Neuroplasticity Research

2010MarketReportIn spite of the recent eco­nom­ic down­turn, rev­enues for dig­i­tal tech­nolo­gies to assess, enhance and treat cog­ni­tion, or dig­i­tal brain health and fit­ness tools, grew 35% in 2009. “The con­ver­gence of demo­graph­ic and pol­i­cy trends with cog­ni­tive neu­ro­science dis­cov­er­ies and tech­no­log­i­cal inno­va­tion is giv­ing birth to a nascent mar­ket­place that can fun­da­men­tal­ly trans­form what brain health is, how it is mea­sured, and how it is done,” says Alvaro Fer­nan­dez, mem­ber of the World Eco­nom­ic Forum’s Coun­cil on the Aging Soci­ety and Edi­tor-in-Chief of the report. “This ground­break­ing report can help pio­neers shape the emerg­ing toolk­it to ben­e­fit an aging soci­ety that increas­ing­ly seeks new ways to enhance cog­ni­tive func­tion­al­i­ty and men­tal well­ness across the lifes­pan.”

As the brain is thrust into the cen­ter of the health­care ecosys­tem, inno­v­a­tive cog­ni­tive health and brain fit­ness appli­ca­tions will play an increas­ing­ly impor­tant role in defin­ing neu­ro­cen­tric health,” adds Jake Duna­gan, Research Direc­tor at the Insti­tute For The Future.

Report: Trans­form­ing Brain Health with Dig­i­tal Tools to Assess, Enhance and Treat Cog­ni­tion across the Lifes­pan: The State of the Brain Fit­ness Mar­ket 2010.

A major­i­ty among the 1,900+ deci­sion-mak­ers and ear­ly-adopters sur­veyed said they trust­ed the effec­tive­ness of non-inva­sive options above inva­sive options to enhance crit­i­cal brain func­tion­al­i­ty. Pro­fes­sion­al and intel­lec­tu­al chal­lenges were rat­ed very effec­tive by 61% of respon­dents, aer­o­bic exer­cise and read­ing books by 42%, med­i­ta­tion by 38%, com­put­er­ized brain train­ing by 26%, tak­ing pre­scrip­tion drugs by 13%, tak­ing sup­ple­ments by 12%, and self-med­icat­ing with drugs by 1%.

These are among the key find­ings of a 207-page mar­ket report released today by Sharp­Brains and pre­pared in col­lab­o­ra­tion with 24 lead­ing sci­en­tists and 10 inno­v­a­tive orga­ni­za­tions — the most com­pre­hen­sive such research study done to ana­lyze emerg­ing research, tech­nolo­gies and mar­ket­place.

We must do for brain health in the 21st cen­tu­ry what we large­ly accom­plished in car­dio­vas­cu­lar health in the past cen­tu­ry. It’s time to take sci­en­tif­ic insights out of the lab and to iden­ti­fy prac­ti­cal appli­ca­tions, mak­ing the main­te­nance of good brain fit­ness a pub­lic health pri­or­i­ty,” indi­cates William Reich­man, MD, Pres­i­dent and CEO of Bay­crest.

Oth­er Report High­lights are: Read the rest of this entry »

The Brain Fitness/ Training Market: An Executive Summary

Over the next weeks we are going to be shar­ing the Exec­u­tive Sum­ma­ry of our mar­ket report The State of the Brain Fit­ness Soft­ware Mar­ket 2008 with mem­bers and clients of sev­er­al part­ner orga­ni­za­tions (the British Colum­bia Seniors Liv­ing Asso­ci­a­tion, where I will be speak­ing this Thurs­day, Neu­rotech Reports, where I will speak on Octo­ber 24th, and the Health 2.0 con­fer­ence, where we are spon­sor­ing a pan­el on gam­ing for health), so it is only fair that we first share it with our own read­ers.

Exec­u­tive Sum­ma­ry

A spate of recent glob­al news cov­er­age on brain fit­ness and brain train­ing reflects a grow­ing inter­est in nat­ur­al, non drug-based inter­ven­tions to keep our brains sharp as we age. This inter­est is very time­ly, giv­en an aging pop­u­la­tion, increas­ing preva­lence of Alzheimer’s rates, and soar­ing health care costs in the US that place more empha­sis than ever on pre­ven­tion and lifestyle changes.

US brain fit­ness mar­ket: sig­nif­i­cant and grow­ing

We esti­mate the size of the US brain fit­ness mar­ket was $225m in 2007 – more than dou­ble what it was in 2005. Where­as K12 school sys­tems were the largest buy­ers in 2005, con­sumers were respon­si­ble for most of the growth from 2005 to 2007. We esti­mate that the con­sumer seg­ment grew from a few mil­lion in 2005 to $80m in 2007, and fore­see sig­nif­i­cant mar­ket growth dri­ven not only by con­sumers but also by health­care and insur­ance providers.

Mar­ket dynam­ics

As we speak to diverse audi­ences about this emerg­ing field around the coun­try we are fre­quent­ly asked the fol­low­ing ques­tions:

- Why are we talk­ing about the brain fit­ness field at all?

Over the past decade, teams backed by neu­ro­sci­en­tists around the world Read the rest of this entry »

About SharpBrains

As seen in The New York Times, The Wall Street Journal, BBC News, CNN, Reuters,  SharpBrains is an independent market research firm tracking how brain science can improve our health and our lives.

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