The global neurology clinical trials market size is expected to be worth around US$ 12.5 billion by 2030, according to a new report by Vision Research Reports.
The global neurology clinical trials market size was valued at US$ 6.8 billion in 2020 and is anticipated to grow at a CAGR of 7.5% during forecast period 2021 to 2030.
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Neurology Clinical Trials Market (By Phase: Phase I, Phase II, Phase III, Phase IV; By Study Design: Interventional, Observational, Expanded Access; By Indication: Epilepsy, Parkinson’s Disease (PD), Huntington’s Disease, Stroke, Traumatic Brain Injury (TBI), Amyotrophic Lateral Sclerosis (ALS), Muscle regeneration, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 12.5 billion by 2030|
|Growth Rate||CAGR of 7.5% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Phase, Study Design, Indication|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||IQVIA; Novartis; Covance; Medpace; Charles River Laboratories; SyneousHealth; Icon Plc; GlaxoSmithKline; Aurora healthcare; Biogen|
This is largely attributed to increasing neurological diseases, such as dementia, stroke, and peripheral neuropathy, and growing R&D investments towards neurological research. However, Covid-19 is an unprecedented event that has impacted practically every part of businesses throughout the world while the pharma industry is being tapped to help bring out an effective treatment against the pandemic at the earliest. Trial enrolment, data collecting, and data analysis were all disrupted, causing delays in ongoing clinical trials. As of April 15, 2020, a total of 81 trials with a specific neurological indication had been recognized as being impacted by the pandemic.
By Phase Analysis
The phase II clinical trials segment accounted the market for neurology clinical trials and held the highest revenue share of 36.7% in 2020. This is largely due to the fact that neurological disorders are extremely rare and there is no specific treatment available. Phase II and phase III trials account for the vast majority of trials. From 1999 to 2020, a total of 8,205 CNS trials were conducted, with 609 trials being conducted in 2020.
The phase III is anticipated to register the fastest growth throughout the forecast period. This growth may be attributed to the fact that phase III clinical trials are the costliest and involve a large number of participants. Phase III also requires a larger number of patients and, in many cases, a longer treatment term.
By Indication Analysis
The Huntington’s disease segment is anticipated to register the largest growth rate of 7.0% throughout the forecast period. This is largely attributed to increasing R&D investment and the high prevalence of the disease all around the globe.
Egypt, the Arab world’s most populated country, has the highest prevalence of Huntington’s disease, the country of 100 million people is overlooked when it comes to Huntington’s disease research. According to a new report, Huntington’s disease affects 2.7 per 100,000 people around the world and 10 per 100,000 in Europe.
By Study Design Analysis
Based on study design, the interventional segment led the market for neurology clinical trials and dominated for the largest revenue share of 82.2% in 2020. It is one of the most prevalent methods for conducting a clinical experiment.
The observational segment is anticipated to witness substantial growth over the forecast period. In a variety of situations, such as post-marketing safety evaluations of drugs or when clinical trials are not feasible, observational studies are routinely used to evaluate treatment effects.
By Regional Analysis
North America dominated the neurology clinical trials market and lead for the largest revenue share of 46.8% in 2020. The rising prevalence of neurological disorders and the presence of a large number of players in clinical trials is driving the market for neurology clinical trials in the region.
In Middle East and Africa, the market for neurology clinical trials is expected to register the fastest CAGR of 9.2% throughout the forecast period. The Sub-Saharan Africa region is afflicted by neurological, psychiatric, developmental, and substance use disorders that are caused by or aggravated by a lack of adequate nutrition and infectious disease, regardless of the fact that disorders connected to increasing longevity, such as stroke, are on the rise.
- Charles River Laboratories
- Syneous Health
- Icon Plc
- Aurora healthcare
- Phase I
- Phase II
- Phase III
- Phase IV
- Study Design
- Expanded Access
- Parkinson’s Disease (PD)
- Huntington’s Disease
- Traumatic Brain Injury (TBI)
- Amyotrophic Lateral Sclerosis (ALS)
- Muscle regeneration
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
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– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
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– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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