Global neurology clinical trials market was valued at USD 4.8 million in 2020. It is projected to grow at a compound annual rate (CAGR of 5.5%) between 2021 and 2028. This can be attributed to the growing number of neurological diseases such as stroke, dementia, and peripheral neuropathy and increasing R&D investments in neurological research. Covid-19, however, is a unique event that has affected virtually every aspect of businesses around the globe. The pharma industry is also being tapped to assist in the development of a pandemic-fighting treatment. Data collection, trial enrolment and analysis were all affected, which caused delays in clinical trials. A total of 81 clinical trials for a specific neurological indication were affected by the pandemic as of April 15, 2020.
Many large pharma companies are focusing on neuroscience. AstraZeneca and Roche's experimental Alzheimer's treatments failed to pass late-stage testing. Biogen, a well-known neuroscience company, plans on convincing regulators to approve a drug similar to those that failed. After achieving success in Alzheimer's disease drug makers now turn their attention to spinal muscular atrophy. Effective therapies from Novartis and Biogen have been approved since 2016.
Drug makers have more tools than ever to correct and manipulate genes, in contrast to the 1990s or 2000s. Large corporations might be interested in a return to neuroscience if they can target disorders that are caused by single genetic mutations such as spinal muscular dystrophy. Pfizer, for example, has acquired Bamboo Therapeutics to help with Duchenne muscular dystrophy, and Roche expressed interest in Ion is Pharmaceuticals Huntington disease programs.
Technological innovations can also improve productivity and efficiency of neurology clinical trials by increasing patient engagement, reducing patient burden, and using novel outcomes. Virtual clinical trials, remote monitoring and wearable devices could help achieve the goal of making clinical trials more patient-focused.
In 2020, the highest revenue share was held by phase II clinical trials. It dominated the market for neurology clinical trial and held 36.7% of the total market. Because neurological disorders are rare and not available for treatment, this is due in large part to the fact that they are very rare. The vast majority of trials are in phase II and III. Between 1999 and 2020, 8,205 CNS trials were performed. In 2020, 609 trials were completed.
Phase III is expected to experience the greatest growth over the forecast period. This may be due to the fact that the phase III clinical trials are most expensive and involve large numbers of participants. Phase III requires more patients and a longer treatment period. A phase III clinical trial for central nervous system is estimated to cost USD 19.2 billion. Between 1999 and 2020, 12,089 CNS trials have been conducted. In 2020, 629 CNS trials will be conducted.
The fastest expected growth rate for Huntington's disease is 6.0% during the forecast period. This can be attributed to the increasing R&D investment as well as the high prevalence of Huntington's disease around the world. The EU Clinical Trials Register includes 40,633 trials that used the EudraCT protocol. 6629 of these included children under 18.
Egypt is the Arab world's most populous country. However, Huntington's disease research in Egypt is often neglected because it has a population of over 100 million. A new study shows that Huntington's disease is affecting 2.7 percent of the global population and 10 percent in Europe. The disease is found in 21 of every 100,000 Egyptians, or approximately 21,000 people. This rate is 11 times higher than that of the U.S. and doubles the Huntington's disease prevalence in Europe. Ireland (10.6 per 100,000), Norway (6.35), Australia (6.3), Denmark (5.7), Denmark (5.8) and the United Kingdom (5.4), Slovenia (5.5.2) and Sweden (4.7 are some of the countries with the highest Huntington's disease prevalence.
The market leader in neurology clinical trials was based on study design. In 2020, it accounted for the largest revenue share at 81.2%. This is the most common method for conducting clinical experiments. The majority of registered studies were related to drugs or biologics. Next came behavioral, clinical procedure and device intervention studies.
Over the forecast period, there will be significant growth in the observational market. In many situations, such post-marketing safety assessments of drugs or when clinical trial are not possible, observational studies can be used routinely to evaluate treatment effects. The prevalence of key prognostic indicators that are linked to treatment and outcome is often different between treatment groups in observational studies.
North America was the dominant market for neurology clinical trials in 2020, accounting for 45.8% of the total revenue. Market for neurology clinical trial in the region is driven by the rising incidence of neurological disorders and the large number of participants in clinical trials. With an estimated 8.4million Americans over 65 suffering from Alzheimer's or other dementia by 2030, the market for neurology clinical trials in the region will grow as the population ages.
The market for neurology clinical trial services in the Middle East and Africa is expected to grow at 8.2% annually. Sub-Saharan Africa is home to many neurological, psychiatric and developmental disorders. This is despite the fact that there are more people suffering from stroke and other diseases that are linked with increasing longevity. Major depressive disorders, and post-traumatic stress disorder, are common problems in conflict-torn North Africa and the Middle East.
Market players are taking a variety of strategic steps to strengthen their services and gain a competitive edge, including new partnerships, collaborations, mergers, acquisitions and geographic expansions.
Sosei, which is based in Japan and Pharm Enable (based in the U.K.) partnered in January 2021 to develop drugs for a G protein coupled receptor (GPCR), target that has been linked to several neurological disorders. To study neurological diseases treatment, they used advanced chemistry and artificial intelligence-enabled tech. The following are some of the most prominent players in the market for neurology clinical trials:
Novartis
Covance
Medpace
Charles River Laboratories
Syneous Health
Icon Plc
GlaxoSmithKline
Aurora healthcare
Biogen
IQVIA
Up Market Research published a new report titled “Neurology Clinical Trials Market research report which is segmented by Study Design (Interventional, Expanded Access, Observational), by Phase (Phase III, Phase IV, Phase II, Phase I), By Players/Companies Syneous Health, Charles River Laboratories, Covance, Medpace, Icon Plc, Aurora healthcare, Novartis, IQVIA, Biogen, GlaxoSmithKline”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Neurology Clinical Trials Market Research Report |
By Study Design | Interventional, Expanded Access, Observational |
By Phase | Phase III, Phase IV, Phase II, Phase I |
By Companies | Syneous Health, Charles River Laboratories, Covance, Medpace, Icon Plc, Aurora healthcare, Novartis, IQVIA, Biogen, GlaxoSmithKline |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 244 |
Number of Tables & Figures | 171 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Study Design (Interventional, Expanded Access, Observational), by Phase (Phase III, Phase IV, Phase II, Phase I).
Neurology Clinical Trials Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Neurology Clinical Trials Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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