Cognitive Assessment And Training Market Size Expected To Reach $15.65 Billion In 2028
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., May 4, 2021 /PRNewswire/ -- Cognitive assessment and training solutions and programs have been witnessing increasing demand due to rise in literacy rates and improved economic conditions among a growing population, especially in developing economies. These programs and tests help students and other users to determine their psychological functions and pace at which information can be processed by the brain. Tests are carried out to determine a person's ability to learn by identifying their strengths and weaknesses, and then, appropriate assessment and training helps them to overcome their weaknesses. COVID-19 has increased the need for social distancing, which has spurred adoption of online cognitive tests. The pandemic resulted in various organizations shifting towards adoption of digital technologies as well as online operations. Rapid adoption of smartphones in cognitive assessment and clinical research for data collection, patient recruitment, health management, and symptom monitoring, particularly during the outbreak of COVID-19, is another key factor supporting growth of the market. Active healthcare tech companies in the markets this week include Cognetivity Neurosciences Ltd. (OTCQB: CGNSF) (CSE: CGN), Prothena Corporation plc (NASDAQ: PRTA), Pfizer Inc. (NYSE: PFE), AbbVie (NYSE: ABBV), Novartis AG (NYSE: NVS).
A recent report from Emergen Research Cognitive Assessment and Training Market Size is projected to reach $15.65 Billion in 2028 and that technological advancements and the emergence of Artificial Intelligence will drive the industry's growth through 2028. It said: "Large enterprises are using cognitive assessment and training to recruit suitable candidates for their organizations. Assessment helps companies to predict job performance of a candidate and test various qualities that the company requires for a particular position. Cognitive assessment and training tools not only help the company avoid bad decisions, but also enable improvement in self-awareness of existing employees. These programs enhance team development and enables planning and career development."
Cognetivity Neurosciences Ltd. (CSE: CGN) (OTCQB: CGNSF) BREAKING NEWS: Cognetivity Neurosciences and InterSystems Partner to Fast-track Integration of Early Dementia Detection with Global Healthcare Systems - Cognetivity Neurosciences (the "Company" or "Cognetivity") today announced that it has established a partnership with the world-leading data and interoperability platform provider InterSystems. The partnership will facilitate the seamless integration of its cognitive assessment platform with electronic healthcare records (EHRs) and enable the efficient adoption of Cognetivity's technology in healthcare systems throughout the world.
Headquartered in Cambridge, Massachusetts, InterSystems specializes in data technology solutions for the healthcare, finance and logistics sectors, with customers and partners in over 80 countries that include HSBC, 3M, SPAR and the European Space Agency. In 2019, it recorded over $720m in revenue.
Within the healthcare industry, InterSystems counts Mass General Brigham, Roche Diagnostics and the NHS among its customers. Over one billion health records worldwide are managed using InterSystems technology, and the 20 best hospitals in the US, according to the latest US News & World Report rankings, all use InterSystems products. These include Mayo Clinic, Cleveland Clinic and The Johns Hopkins Hospital.
Cognetivity's partnership with InterSystems grants the company access to InterSystems IRIS for Health™, a data platform specifically engineered to extract value from healthcare data. The platform will provide seamless interoperability between Cognetivity's Integrated Cognitive Assessment (ICA) platform and EHRs, with full, built-in compliance with key data standards.
Cognetivity will also be able to take advantage of application development assistance, with access to partner channels and InterSystems' large network of healthcare systems in the UK, the US and beyond. This includes over 100 trusts and health boards in the UK and Ireland, and thousands of hospitals in the US.
"We're immensely proud to work in partnership with such an innovative company as Cognetivity Neurosciences which is using our advanced data capabilities in the battle against the scourge of dementia," said Chris Norton, InterSystems' Managing Director, UK & Ireland. "This is a partnership with the potential to trigger a revolution in diagnosis and care for millions of people. The pandemic has demonstrated the need for scalable innovation that cuts across conventional boundaries to provide remote early detection tools that reduce cost and risk while improving outcomes for individual patients."
Prothena Corporation plc (NASDAQ: PRTA) recently presented positive results from the Phase 1 study of PRX004 as part of the Emerging Science Session at the American Academy of Neurology (AAN) 2021 Virtual Annual Meeting. PRX004 showed favorable results as demonstrated by slowing of neuropathy progression for all 7 evaluable patients at 9 months, including improvement in neuropathy in 3 of the 7 patients, and improved cardiac systolic function for all 7 patients. In this Phase 1 study, PRX004 was found to be generally safe and well tolerated across all dose levels. The positive results were presented by Dr. Ole Suhr, Senior Professor, Department of Public Health and Clinical Medicine, Umeå University, gastroenterologist and internist who was a principal investigator in the study and were previously highlighted by Prothena on December 9, 2020.
For all of the evaluable patients, slowing of neuropathy progression was demonstrated by a mean change from baseline in Neuropathy Impairment Score (NIS) of +1.29 points at 9 months. This compares favorably to a calculated mean change in NIS of +9.2 points at 9 months in untreated and placebo-treated patients with hereditary ATTR peripheral neuropathy (hATTR-PN) based on analysis of published historical data. In addition, the change in NIS for each of these evaluable patients was more favorable than the published historical data. In this highly progressive disease, it was encouraging to see 3 of 7 patients demonstrate improvement in neuropathy with a mean change in NIS of –3.33 points at 9 months. These positive results were observed in patients with or without concomitant use of stabilizer therapy. PRX004 also demonstrated improvement in cardiac systolic function in each of the 7 evaluable patients, with a mean change in GLS of –1.21% at 9 months (centrally read). For the 3 patients who improved on NIS, GLS improvement was more pronounced, with a mean change of –1.51% at 9 months. Taken together, these positive clinical findings suggest PRX004's depleter mechanism of action can result in benefits in both neuropathy and cardiac function.
Pfizer Inc. (NYSE: PFE) recently announced that it has acquired Amplyx Pharmaceuticals, Inc., a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx's lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections.
More than 1.5 million cases of invasive fungal infections occur worldwide each year, with mortality rates as high as 30-80% across infection types. Fosmanogepix has a novel mechanism of action with the potential to target fungal strains resistant to standard of care therapy. As there are only three classes of antifungal medications currently available, antifungal resistance can severely limit treatment options; a potential new therapeutic class may therefore be of importance for both physicians and patients. There has been no novel therapeutic class of antifungal therapies approved by the U.S. Food and Drug Administration (FDA) in nearly 20 years.
AbbVie (NYSE: ABBV) recently announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion for VENCLYXTO® (venetoclax) in combination with hypomethylating agents for the treatment of adult patients with newly diagnosed acute myeloid leukemia (AML) who are ineligible for intensive chemotherapy. The positive CHMP opinion is a scientific recommendation for marketing authorization to the European Commission (EC), which is expected to deliver its final decision on VENCLYXTO combination therapy for use in AML in the first half of 2021.
The positive CHMP opinion represents the third for an extension of indications for VENCLYXTO. The opinion is based on results from the double-blind, placebo-controlled VIALE-A (M15-656) and the Phase 1b open-label, nonrandomized, multicenter M14-358 trial.
Novartis AG (NYSE: NVS) recently announced positive one-year results of the Phase III KESTREL and KITE* studies, evaluating the efficacy and safety of Beovu® (brolucizumab) 6 mg in diabetic macular edema (DME). Both studies met their primary endpoints of non-inferiority in change in best corrected visual acuity (BCVA) from baseline for Beovu 6 mg versus aflibercept 2 mg at year one1. In KESTREL, patients on Beovu 6 mg gained a mean of 9.2 letters versus 10.5 letters for patients on aflibercept 2 mg1. In KITE, patients on Beovu 6 mg gained a mean of 10.6 letters versus 9.4 letters for patients on aflibercept 2 mg1. These results will be presented at the Association for Research in Vision and Ophthalmology (ARVO) 2021 Annual Meeting.
In pre-specified secondary endpoints, fewer eyes treated with Beovu had intraretinal and/or subretinal fluid (IRF/SRF) at week 32 (first assessment of disease activity) and week 52 versus eyes treated with aflibercept1. More eyes treated with Beovu 6 mg than eyes treated with aflibercept achieved central subfield thickness (CSFT) levels below 280 µm at weeks 32 and 521. Fluid is a key marker of disease activity in DME and CSFT is a key indicator of fluid in the retina1.
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