In 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.
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.