Market Challenges And Opportunities

The cognitive bias modification treatment market's growth can be hindered by the presence of well-established alternative treatment options such as pharmacological drugs that are used to treat anxiety and reduce alcohol use and smoking. For instance, relapse following alcohol withdrawal management can be prevented by pharmacotherapy and psychotherapy. According to an article published by JAMA Psychiatry, a monthly peer-reviewed medical journal, in November 2020, medications such as naltrexone and acamprosate reduced relapse rates by 5% to 8% in up to 1 year following treatment. However, technological advancements and increased awareness about cognitive bias modification treatment among people can help overcome the barrier and increase rate of people adopting cognitive bias modification treatment

Global Cognitive Bias Modification Treatment Market - Driver

Increasing use of smartphones

Increasing number of people using smartphones and the increasing incorporation of smartphone-based cognitive bias modification treatment applications are expected to drive the market growth over the forecast period. CBM training can be promoted due to the increasing number of medical-related applications that are available on smartphones. Moreover, smartphone interventions also provide high accessibility to individuals seeking mental health improvement help and could further reduce the cost of treatment. For creating enduring changes in cognitive habits, a high dose and frequency of training is a prerequisite. Smartphones can make frequent training easy, as participants can undergo training anywhere throughout the day. All the above advantages are expected to drive the market growth

The increasing incidence of anxiety, alcohol use disorder, smoking, among others

Changing lifestyle and stress has increased alcohol consumption, anxiety levels, and smoking among people. Cognitive Bias Modification (CBM) refers to a family of interventions targeting substance-related cognitive biases, which have been found to play a role in the maintenance of addictive behaviors. Thus, the increasing incidence of anxiety, alcohol use disorder, and smoking is expected to drive the market growth over the forecast period. For instance, according to the data provided by the World Health Organization, in May 2022, around 3 million deaths every year results from harmful use of alcohol, globally.