The cognitive bias modification treatment aims to modify cognitive biases that are linked to psychological conditions through repeated computerized training sessions. These sessions are designed to help individuals overcome automatic tendencies that can contribute to problems like anxiety, depression, addiction, and other disorders. The treatment involves completing exercises on a computer, mobile, or online platform to help shape new ways of interpreting experiences and information in a more realistic and flexible manner.
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 Dynamics:
The increasing prevalence of mental health issues such as depression, anxiety disorders, and substance abuse around the world has been a major driver boosting the growth of the cognitive bias modification treatment market. According to WHO estimates, over 300 million people worldwide suffer from depression. Cognitive bias modification helps individuals overcome cognitive distortions and automatic thoughts patterns linked to these conditions. Furthermore, the increasing awareness about this novel computerized treatment approach and its advantages such as easy access, cost-effectiveness, and privacy has also contributed to the market growth. Extensive ongoing research to expand the clinical applications of cognitive bias modification is expected to further aid the market expansion over the forecast period.
SWOT Analysis
Strength: Cognitive Bias Modification Treatment aims to modify maladaptive biases that contribute to psychological disorders like anxiety and depression. Training techniques focus on recognizing and reacting to biases in order to build new associations over time in three sessions. This non-invasive approach has minimal side effects and can be done at home.
Weakness: Modifying cognitive biases requires consistent practice over several weeks to change automatic thoughts. Not all training modules have been clinically validated for long-term effectiveness. Cost and access to treatment can also be limitations.
Opportunity: Growing recognition of the role cognitive biases play in mental health conditions presents an opportunity to expand indications for bias modification therapy. Pairing digital programs with therapeutic support could improve adherence and outcomes. Developing bias modification for additional disorders such as substance abuse holds promise.
Threats: Competing digital self-help tools and low-cost cognitive behavioral therapy apps provide alternatives that may be preferred over bias modification alone. Conditions reliant on multiple pathogenic factors may be less responsive solely to bias modification. Insurance coverage and regulation could impact market penetration.
Key Takeaways
The global Cognitive Bias Modification Treatment market is expected to witness high growth over the forecast period from 2023 to 2030.The market size for 2023 is US$ 83.2 Mn and is anticipated to increase at a CAGR of 7.9%.
Regional analysis:
North America is currently the dominant region for cognitive bias modification treatment due to greater awareness, higher acceptability of digital mental health solutions, and supportive regulatory guidelines. The Asia Pacific region provides lucrative opportunities due to growing prevalence of mental health conditions combined with improvements in digital infrastructure and rising income levels.
Key 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. Cognitive Training Solutions Pty Ltd t/as SWiPE Brain Training and Wise Therapeutics lead with clinically validated programs across multiple mental health indications.
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Cognitive Behavioral Therapy or CBT is a combination of behavioral therapy (behavior modification) and cognitive therapy.
The most basic idea of the cognitive part of Cognitive Behavioral Therapy says that thoughts influence how we feel, and how we behave.
CBT also says thoughts cause distress when they are distorted, which can be treated by you and a therapist.
A distorted thought is one that does not reflect reality.
Cognitive Behavioral Therapy for social anxiety disorder further says that it is not a situation in and of itself that causes us to feel and act but instead it is the meaning that we attribute to the situation.
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