Market Sizing

Part
01
of four
Part
01

Cognitive Enhancer Drugs: Market Size

The global cognitive enhancer drug market size in 2017 was approximately $4.02 billion and is expected to grow at a CAGR of 8.7% between 2018 and 2024. Pfizer, Johnson & Johnson, Novartis AG, Allergan and Takeda Pharmaceuticals are major players in the industry.

Findings

  • The global cognitive enhancer drug market size was $4.02 billion in 2017.
  • The Industry is expected to grow at a CAGR of 8.7% between 2018 and 2024.
  • North America was the leading segment in the cognitive enhancer drugs market with more than 40% share of the total market size.

Major Players in the Cognitive Enhancer drug market

Research strategy

In order to provide the most recent market size of the cognitive enhancer drug, we started by combing through industry and market reports from reputable sources such as AlliedMarketResearch, Markets and Markets, WiseguyReports, Euromonitor, MarketResearch, TransparencyMarketResearch among others. We were able to find the latest information on the global market size and key players of the cognitive enhancer drug and this was cross-referenced with reports from several sources.

We couldn't provide the US market size of the cognitive enhancer drug as the information was hidden behind a paywall; hence, we have provided the global market size of the cognitive enhancer drug industry and the North American market share of the industry. The CAGR of the industry is expected to maintain steady growth between 2018 and 2024. Since the growth will extend to 2024 then the 2020 CAGR of the industry will be the same as from 2018 to 2024 which is 8.7%.


Part
02
of four
Part
02

Cognitive Enhancer Brain Computer Interfaces: Market Size

After an intensive search, we could not determine the market size for the cognitive enhancer brain-computer interfaces industry. However, we were able to show that the brain-computer interface market of the neurorehabilitation market could be related to the cognitive enhancer brain-computer interface market. Based on this and by proxy, a reasonable estimate was calculated for the year 2019. This figure stands at $398.8 million with an estimated growth rate of 15.3% until 2020. Some major players in these respective fields include Bioness, Inc., and NeuroSky. Continue below for our findings and research strategy.

KEY FINDINGS

  • "The rehabilitation of cognitive function involves methods for recalibrating neural pathways or training new neural pathways to improve cognitive functioning that has been weakened by trauma or other neurological disorders."
  • The most recent (2019) estimated size of the global brain-computer interface (BCIs) market of the neurorehabilitation device industry in 2019 was calculated to be $398.8 million. This market was pictorially assumed to have a 25% share of the global $1.2 billion neurorehabilitation device industry.
  • The growth rate of the global neurorehabilitation device industry from 2018 to 2024 is 15.3%. This figure was assumed to be constant and the same for the global BCIs market until 2020.
  • This seems to be commensurate with the size of "the more general and broader $806.8 million brain-computer interfaces industry (2015) which is expected to reach $1.72 billion in 2022, growing at a CAGR of 11.50% during the forecast period."
  • Some major players in the neurorehabilitation device industry include Bioness, Inc., Ekso Bionics, St. Jude Medical, Inc., Hocoma AG, and Rehabtronics Inc.
  • Some major players in the BCIs market include Emotiv Corp., NeuroSky, Mind Solutions Corp., and Guger Technologies OEG.

RESEARCH STRATEGY

We commenced by searching industry reports, market research reports, and news aggregators such as PR Newswire and Grand View Research on the size and growth rate of the cognitive enhancer brain-computer interfaces industry, as well as the major players but found no reports with respect to the requested data. We only found information around the size of the brain-computer interface (BCIs) market in general without any specifics on the cognitive enhancers. Furthermore, this report factored in several applications including healthcare, smart home control, communication & control, entertainment, and gaming. We also searched through related media sources but found no relevant information. This attempt failed both with the US and global geographical focus.

Next, we attempted to triangulate this from existing reports from Grand View Research and Allied Market Research that provided the market size of the brain-computer interfaces industry. While these reports, as well as others, provided the size and the growth rate, none of them provided a suitable/supporting data point that could yield to a more direct estimate. Some of these needed data points included the market share of the cognitive enhancer segment or a much closer/related segment. Some segments provided in these reports that were close to the cognitive enhancer segment were healthcare and/or communications & control. However, they would have been too generic and would yield a rather broad estimate.

Delving deeper into cognitive enhancers and brain-computer interfaces (BCIs), we found that the neurorehabilitation market could be used as a proxy to cognitive enhancers since "the rehabilitation of cognitive function involves methods for recalibrating neural pathways or training new neural pathways to improve cognitive functioning that has been weakened by trauma or other neurological disorders." This shows that there is an intersection of set between the neurorehabilitation market and cognitive enhancers — which is the devices/techs that improve/enhance cognitive functions. Thus, in the absence of a "more direct" approach of providing an estimate, we adopted this market as a proxy towards providing a "more direct" estimate for the cognitive enhancer brain-computer interface industry based on the assumption that cognitive enhancers improve cognitive functioning, which in turn, is the sole purpose of neurorehabilitation.

Next, we searched for the sub-segments of the neurorehabilitation market and found that "the neurorehabilitation devices' market has been segmented on the basis of product type which comprises neuro-robotic devices, wearable devices, non-invasive stimulators, brain-computer interface, and others." Hence, we searched for the market share of this segment and found a report published by Inkwood Research. This report provided a chart that broke down this market as listed above. Note that the numbers/shares were not provided in the chart, hence, we used our "visual analysis" to pictorially gauge an estimate of the shares. This way, we assumed that in 2017, BCIs have a 25% share of the global $1.2 billion neurorehabilitation device market with a growth rate of 15.3%. Therefore, the size of the global BCIs market of the neurorehabilitation device industry in 2017 is as follows:

25% * $1.2 billion = $300 million

Assuming that this growth rate (15.3%) applies equally to the global BCIs market and is expected to remain constant through 2019, then the size of the global BCIs market of the neurorehabilitation device industry in 2019 is $398.8 million (using an online CAGR calculator).

Lastly, none of these reports specifically provided any growth rate until 2020 or 2030; however, other years such as 2024 are available. Hence, we assumed that this growth rate would remain constant even through 2020.
Part
03
of four
Part
03

Meditation Apps Industry: Market Size

As of 2017, the US meditation market is valued at $1.21 billion, of which the meditation apps generate a revenue of about $100 million. The market size of meditation apps is projected to reach $200 million by 2022, registering a CAGR of 14.87%. Alternatively, some market research reports project the mental health apps market to grow at an annual rate of up to 40% till 2025. The key players in the meditation apps segment are HeadSpace, Calm, and 10% Happier; they generate more than 90% of the US meditation apps market revenue.

U.S. Meditation Market Overview

  • In the US, there are about 9.3 million adults who use meditation techniques regularly. The profile of a typical meditation user in the US is as follows — white, middle-aged female, college-educated, non-Hispanic, western state resident, and self-improvement enthusiast.
  • According to a recent report by MarketData, the US meditation market was valued at $959 million in 2015, $1.08 billion in 2016, and $1.21 billion in 2017. The report estimates the market to reach $2.08 billion by 2022, growing at an annual rate of 14.87%. This data about the US meditation market was further supported by similar findings across other credible sources like IBISWorld and Statista.
  • The meditation market comprises physical, digital, and conventional market segments. In the US, there are over 2,450 meditation studios or centers, that generate a revenue of about 60% or $730 million annually.
  • The meditation centers are followed by the conventional market for meditation books, DVDs, and magazines; it generates annual revenue of 9.25% or $112 million; lastly, digital channels like websites and mobile applications generate a revenue of 8.26% or $100 million.


Meditation Apps Market Size and growth

  • The US meditation and mindfulness industry generates a revenue of about $1.2 billion and is expected to reach over 2.08 billion by 2022. In 2017, the market size of meditation apps in the US was $100 million, and it is projected to reach $200 million by 2022, growing at an annual rate of 14.87%.
  • According to a recent study published by the Journal of Medical Internet Research, as of 2017, there are about 325,000 health apps available across mobile app stores. Further, it states that about 7% or 22,750 of all the health apps are focused on mental health and wellness.
  • In 2017, there were at least 1,000 mediation apps available in the market; while in 2018, about 3,900 meditation and mindfulness apps were available in the US market.
  • According to Sensor Tower, about 14 million meditation apps were downloaded in 2017, generating a subscription revenue of over $15 million (growth of 109% over 2015).
  • According to Apptopia, the US consumers spent over $32 million on mindfulness apps in Q1-2018 and registered a YOY revenue growth of 40%, followed by an increase in new installs by 36%. Alternatively, a recent market study by QY Reports projects the mental health apps market to grow at an annual rate of 40% till 2025.


LEADING PLAYERS

  • According to MarketWatch, mindfulness apps like Calm, 10% Happier, and Headspace generated a subscription revenue of $32 million in 2018.
  • Sensor Tower market intelligence firm estimates the Q1-2018 revenues of the top-10 self-care apps in the US at $15 million.
  • Headspace is the market leader among meditation apps with 40 million downloads, followed by Calm with 37.2 million downloads, and 10% Happier, with over 10 million downloads.
  • Calm and Headspace together generated over 90% of the top 10 apps’ revenue in Q1-2018.
Part
04
of four
Part
04

Brain Training Industry: Market Size

The global cognitive assessment and training market was valued at $1.98 billion in 2016.

KEY PLAYERS IN THE BRAIN TRAINING INDUSTRY


RESEARCH STRATEGY

To answer this request, we searched for the market size of the U.S. brain training industry. We got a pre-compiled report that talked about the global brain training industry. On searching further, we discovered that another other report had cited the pre-compiled report. Although this report is not specific to the US market, we used it since the request suggests that the research can be expanded to the global market. We found that this is the most recent compiled report on the sector.




Sources
Sources

From Part 02
Quotes
  • "The global brain computer interface market size was valued at USD 806.8 million in 2015 and is expected to reach USD 1.72 billion in 2022, growing at a CAGR of 11.50% during the forecast period. Key drivers of the market include increasing prevalence of neuroprosthetic conditions, rising global geriatric population base, and the rising technological development facilitating communication and movement in paralytic patients."
Quotes
  • "Brain Computer Interface Market is expected to garner $1.46 billion by 2020, registering a CAGR of 11.5% during the forecast period 2014 - 2020. "
  • "A brain computer interface (BCI) is a revolutionary system that facilitates a direct communication pathway between a functional brain and peripheral electronic devices that are used to calibrate the movement in physically challenged individuals. "
  • "A brain computer interface system records the brain signal from the surface of the cortex, through signaling devices implanted within the brain or from the sensors placed over the scalp."
Quotes
  • "Neurorehabilitation devices' market has been segmented on the basis of product type which comprises neuro-robotic devices, wearable devices, non-invasive stimulators, brain computer interface, and others. "
  • "The market for Neurorehabilitation Devices is expected to show an exponential growth and would reach approximately $2.25 Billion in 2022. Rehabilitation of cognitive function involves methods for recalibrating neural pathways or training new neural pathways to improve cognitive functioning that has been weakened by trauma or other neurological disorders."
Quotes
  • "The Global Neurorehabilitation devices market is anticipated to grow at a CAGR of 15.24% between 2018 and 2026. Global neurorehabilitation devices market is primarily driven by growing prevalence of neurological disorders globally."
  • "Global Parkinson’s disease market comprises of wearables and other devices that are used during neurorehabilitation process of Parkinson’s disease. Various devices such as wearable devices, BCI, and neurorobotics are also used for Spinal cord injury. "
  • "Products are segmented into Neuro-robotic systems, Brain-computer interface, Non-invasive stimulators, and Wearable device."
From Part 03
Quotes
  • "The U.S. meditation market was estimated to be valued at $959 million as of 2015, growing to $1.08 billion in 2016 and $1.21 billion in the current year. Marketdata forecasts 11.4% average yearly growth, to $2.08 billion by 2022."
  • "Approximately 9.3 million U.S. adults have used meditation in the past 12 months. The profile of a typical meditation user is a middle-aged female, highly educated (college or higher education degree), non-Hispanic White, and residing in a Western state of the U.S.—very similar to the profile of a self-improvement consumer."
  • "There are an estimated 2,450 meditation studios or centers in the U.S., mostly non-profit organizations. They generate $659 million in revenues. These centers work closely with yoga studios (which have grown in popularity in recent years)."
  • "Meditation books, CDs, DVDs, magazines constitutes a $112 million segment of the market."
  • "There are at least 1,000 mediation smartphone apps now on the market. Headspace is the market leading company. Meditation apps, websites and online courses generate $100+ million per year. Leading apps are: The Mindfulness App, Insight Timer, Calm and Buddhify."
Quotes
  • "Today, 9.3 million Americans meditate, fueling a $1+ billion industry comprised of meditation studios, books, DVDs, workshops, online courses, websites, apps and supplies. Like the yoga market, which has seen a major increase in the past decade, meditation is experiencing strong growth."
Quotes
  • "Meditation is a $1 billion industry, and it could double to $2 billion by 2022, according to Marketdata Enterprises, a market research firm. Meditation apps, of which there are thousands, generated more than $100 million in revenue last year."
Quotes
  • "The marketing is working. The meditation and mindfulness industry raked in an estimated $1.1 billion in the U.S. in 2016, according to market research firm IBISWorld. "
  • "Cox formerly served as chief medical officer at Headspace, the world’s most downloaded meditation app, and one of 3,900 mindfulness and meditation apps currently available in the U.S. Apple app store."
  • "Last year these apps were downloaded nearly 14 million times, accounting for over $15 million in paid downloads and subscriptions, a 109 percent increase over 2015, reports mobile analytics firm Sensor Tower."
Quotes
  • "Self-care apps topped Apple’s 2018 trends list, as consumers spent $32 million on mindfulness apps like Calm, Headspace and 10% Happier."
  • "The U.S. meditation market hit $1.21 billion last year (up from $959 million in 2015) and Apptopia estimates that U.S. consumers spent $32 million on self-care mobile apps in both the Apple Store and Google Play in the first quarter of 2018, up 40% year over year, and with new installs of those apps up 36% year over year. "
  • "The Sensor Tower mobile app store market intelligence firm put the revenues of the top 10 grossing self-care apps in the U.S. at $15 million (and $27 million worldwide) in the first quarter of 2018, per a TechCrunch report earlier this year."
  • "Will added that 75,000 people download Calm each day, and the app’s downloads have more than doubled in the past year, from 15.2 million in December 2017 to 37.2 million this month. The company is also expecting to see revenues reach $80 million by the end of this year. "
  • "And Headspace currently has just under 40 million downloads, with well over one million paid subscribers – up from 20.5 million downloads last December. "
Quotes
  • "Meditation centers and studios are sprouting across cities, generating a revenue of about $730 million. Similarly, books, magazines, CDs and DVDs about meditation have contributed to $112 million in revenue. Websites, applications and online courses, on the other hand, generated more than $100 million in revenue. "
Quotes
  • "Calm, the top grosser, earned about half the total revenue in the U.S. and worldwide, equating to roughly $8 million in the U.S. and $13.5 million worldwide. Combined with Headspace, the two generated more than 90 percent of the top 10 apps’ revenue last quarter."
Quotes
  • "The number of publicly available mental health apps continues to expand at a breakneck pace. One estimate, as of 2017, proposed that nearly 325,000 health apps are available across the most common app stores (Google Play and iOS), a 25% increase from the previous year."
  • "The exact number of mental health apps varies by definitions of what constitutes a mental health app, ranging from possibilities including general wellness apps to only disorder-specific mental health apps. "
  • "Estimates suggest that about 7% of the market is focused on mental health [2], which would imply that 22,750 mental health apps exist. "
Quotes
  • "This statistic depicts the size of the meditation market in the U.S. from 2015 to 2017 and a forecast for 2022. In 2017, the meditation market in the U.S. was estimated to be worth around 1.21 billion U.S. dollars and was predicted to grow to over 2 billion dollars by the year 2022."