You probably have been reading much about "brain training"
and "brain fitness" and wondered, "What is all the Fuss
About?"
After many months of work (and we hope many new neurons and
stronger synapses in our brains), we have just released our
inaugural report on the emerging Brain Fitness Software
Market, and we want to share a few of the key findings with
you.
In summary, the whole category is growing. We estimate the
size of the US brain fitness software market at $225M
in2007, up from $100m in 2005 (50% CAGR). The two segments
that fueled the market growth: consumers (grew from $5m to
$80m, 300% CAGR) and healthcare & insurance providers (grew
from $36m to $65m, 35% CAGR).
Ten Findings 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.
There are over 20 public and private companies offering
tools to assess and train brain functions, with major
implications for healthy aging and a number of disorders
such as attention deficits, dyslexia, stroke and traumatic
brain injury, schizophrenia, autism, mild cognitive
impairment, and Alzheimer's disease.
Now you know. Not everything that bills itself as "brain
training" really is. But there is more than may meet the
eye.
----------------------------------------------------
Alvaro Fernandez is the CEO and Co-Founder of
SharpBrains.com, which released the report "The State of
the Brain Fitness Software Market 2008" on March 11th.
SharpBrains has been recognized by Scientific American
Mind, Newsweek, Forbes. Alvaro holds MA in Education and
MBA from Stanford University, and teaches The Science of
Brain Health at UC-Berkeley Lifelong Learning Institute.
You can learn more at http://www.sharpbrains.com/blog
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