Highlights from The State of the Brain Fitness Software Market 2008 Report
In this landmark, inaugural report, SharpBrains estimates the size
of the US brain fitness software market at $225M in 2007, up from $100m
in 2005 (50% CAGR). The 87-page report is the first to define the brain
fitness software market and analyze the size and 
trends
of its four customer segments: consumers, healthcare & insurance
providers, K12 school systems, and fortune 1000 companies, military,
and sports teams. According to SharpBrains, two segments fueled the
market growth from 2005 to 2007: consumers (grew from $5m to $80m, 300%
CAGR) and healthcare & insurance providers (grew from $36m to $65m,
35% CAGR).
Ten Specific Highlights from The State of the Brain Fitness Software Market 2008 report include:
1) 2007 was a seminal year for the US Brain Fitness software market, which reached $225 million in revenues – up from an estimated $100 million in 2005.
2) Over 20 companies are offering tools to assess
and train cognitive skills to four customer segments: consumers;
healthcare and insurance providers; K12 school systems; and Fortune
1000 companies, the military, and sports teams.
3) The Nintendo Brain Age phenomenon has driven much of the growth. The consumer segment grew from a few million in 2005 to an estimated $80 million in 2007.
4) There is major confusion in the market, so education will be key. Users and buyers need help to navigate the maze of products and claims.
5) Over 400 residential facilities for older adults
have launched computerized “brain fitness centers.” Sales to the
healthcare and insurance provider segment grew from $35 million in 2005
to an estimated $65 million in 2007.
6) More than five programs have shown results in
randomized controlled trials. Cognitive functions that can be trained
include: visual and auditory processing, working memory, attention, and
decision-making.
7) A product has obtained 510(k) FDA clearance for
rehabilitation of stroke and Traumatic Brain Injury patients. Another
product is being used by a growing network of ADHD specialists.
8) Large-scale, fully-automated cognitive assessments
are being used in a growing number of clinical trials. This opens the
way for the development of inexpensive consumer-facing, baseline
cognitive assessments.
9) The potential for K12 Education remains largely untapped due to limited research linking cognitive training to academic performance.
10) Companies, sports teams and the military are finding opportunities to improve productivity. The aging workforce will make this a must.
More information at: http://www.sharpbrains.com/market-report/report-highlights/
