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.
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.
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 more…] about The Brain Fitness/ Training Market: An Executive Summary