Cognitive Bias Modification Treatment Market Poised For Rapid Growth Owing To The Advent Of Digital Therapeutics And Software Applications

Cognitive bias modification treatment is a set of techniques that help reduce unhealthy cognitive biases. Cognitive biases can lead to increased stress, anxiety, and unhealthy behavior patterns. Treatments focus on addressing biases related to risk-taking, social anxiety, depression, and addiction. They help improve emotional regulation, decision making, and overall mental well-being.

The global Cognitive Bias Modification Treatment Market is estimated to be valued at US$ 83.2 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The advent of digital therapeutics and software applications that can modify cognitive biases remotely is accelerating the growth of this market. Players are developing mobile apps and web-based software that can identify unhealthy thought patterns and repeatedly expose users to more balanced perspectives to gradually reduce cognitive biases from the comfort of their home. For example, apps like Cognitive Bias Modification Kit are gaining popularity for addressing biases related to anxiety, depression, and addiction through online cognitive training exercises accessible on any digital device. The convenience and affordability of digital modifications solutions is expected to drive the cognitive bias modification treatment market during the forecast period.
Segment Analysis
The global cognitive bias modification treatment market is bifurcated into different segments on the basis of types, applications and geography. On the basis of types the market is divided into attention bias modification training, interpretative bias modification training, memory bias modification training and others. Among these attention bias modification training segment dominated the overall cognitive bias modification treatment market in 2023 owing to its ability to modify maladaptive attention allocation and attention bias which is precursor condition for various psychiatric disorders such as anxiety, depression and substance use disorders.

Key Takeaways
The global cognitive bias modification treatment market is expected to witness high growth during the forecast period of 2023-2030.
Regional analysis - North America region accounted for the largest market share in 2023 owing to presence of prominent players, rising awareness of cognitive bias treatments and favourable regulations. Asia Pacific is expected to register fastest growth during the forecast period due to improving healthcare infrastructure and rising geriatric population in countries such as China and India.
Key players operating in the cognitive bias modification treatment market are Cognitive Training Solutions Pty Ltd t/as SWiPE Brain Training, Wise Therapeutics, Mental Mint, MindHabits, Youper Inc., Aralus Digital, and Avegen Health. These players are focusing on new product launches and collaborations to strengthen their presence in the market. For instance, in 2022 Wise Therapeutics received breakthrough device designation from US Food and Drug Administration for its digital therapeutic platform for treating major depressive disorder.

Key players related content comprises Key players related content - The global cognitive bias modification treatment market is fragmented in nature with presence of several domestic as well as international players. Key players operating in the cognitive bias modification treatment market are Cognitive Training Solutions Pty Ltd t/as SWiPE Brain Training, Wise Therapeutics, Mental Mint, MindHabits, Youper Inc., Aralus Digital, and Avegen Health. These players are focusing on new product launches and collaborations to strengthen their presence in the market. For instance, in 2022 Wise Therapeutics received breakthrough device designation from US Food and Drug Administration for its digital therapeutic platform for treating major depressive disorder.

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