The global Neurology Clinical Trials Market was valued at around USD 5.4 billion in 2021.
With a projected CAGR of 6.3% for the next ten years, the market is likely to reach a valuation of nearly USD 10.5 billion by the end of 2032. The neurology clinical trials market is expected to achieve an absolute dollar opportunity growth of USD 4.8 billion over the forecasted period.
| Attributes | Details |
|---|---|
| Neurology Clinical Trials Market Size (2021A) | USD 5.4 billion |
| Neurology Clinical Trials Market Size (2022E) | USD 5.7 billion |
| Projected Market Value (2032F) | USD 10.5 billion |
| Global Market Growth Rate (2022 to 2032) | 6.3% CAGR |
| Key Companies Profiled | IQVIA; Novartis; Covance; Medpace; Charles River Laboratories; GlaxoSmithKline; Aurora Healthcare; Biogen |
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Future Market Insights reveals that Interventional study design led the market for neurology clinical trials. Market revenue through interventional study design grew at 5.6% CAGR from 2017 to 2021. While Huntington’s disease maintained the top Indication in neurology, clinical trials with a growth rate of 5.2% from 2017 to 2021.
The market is likely to grow due to an increase in global neurological disorders. This will drive the market for government spending and collaboration from pharmaceutical companies for the collaboration of new drugs and medication.
According to Lancet medical journal, total disability life adjusted years (DALYs) from, non-communicable neurological disorders like stroke, Alzheimer’s disease, dementia, Parkinson’s disease, and headache disorders increased in India and contributed 82.8% in 2019. Neurological disorders like stroke contributed to the highest share of deaths in India followed by Alzheimer’s.
Based on the study, changes in lifestyle habits were a substantial contributor to non-communicable diseases. For instance, high systolic blood pressure, air pollution, and dietary factor contributed to 55.3%, 42.2%, and 28.1% respectively strokes.
The requirement for neurology clinical trials is soaring, but several pharmaceutical companies are leaving the market due to the high cost of clinical trials across therapeutic areas and the high failure rates of clinical trials.
Based on the Tufts Center for the Study of Drug Development, CNS drugs take 18% more time to develop when compared to other drugs, and only 6% of drugs are finally approved out of clinical testing. These statistics are discouraging enough for pharmaceutical companies not to invest in neurological clinical trials.
In order to make the transition from Phase I to Phase II trial, companies require data packages to enhance upcoming investments. Few academic and market scientists refuse to share data resulting in a delay in clinical trials.
On the other hand, diagnosis of the central nervous system (CNS) is studied on the basis of symptoms, and signs, and the reasons are varied in different patients within existing diagnostic categories. This makes the identification of the problem difficult.
Moreover, animal models have not shown effective predictive validity and reproducibility. Animal models of CNS disorders are less understood and are not able to recreate the varied neurological human disorders on their model.
Principal Consultant
With the rise in neurological diseases, such as Alzheimer’s disease and Huntington's disease neuroscience remains a key domain for the majority of investments due to the high societal and monetary burden. Pharma and medical device companies have joined hands to offer better understanding and improved treatment.
Moreover, the unprecedented rise in neurological disorders has called for the government to support funding for neurology clinical trials.
Scientists at the University of Sheffield’s Neuroscience Institute and NIHR Sheffield Biomedical Research Centre received funding of USD 61 Million from the government to bring suitable treatment options for motor neuron disease (MillionD). The funding is expected to change the clinical trials in the coming years.
The government of Australia invested USD 21.8 Million for the treatment of varied neurological disorders. Around 10 research projects were earmarked in Australia for the treatment of Supranuclear palsy and attempts would be made to reduce fatigue in patients after a stroke.
Furthermore, the Clinical Trials Activity Initiative by the Australian Government aims to provide USD 750 Million over 10 years from 2022 to 23 to Australian researchers in order to increase clinical trials in the country.
The total number of DALYs resulting from neurological disorders was 21 million in the European Union, in 2017 and 41.1 million in WHO European region. A substantial burden will likely catch the attention of neurological clinical trials in Europe.
Development in the healthcare system has extended life expectancy. An increase in the older population has also come up with the burden of non-communicable neurological diseases which is the main driver for spending in neurology clinical trials in Europe.
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The market for neurology clinical trials in the USA is valued at USAD 3.7 billion by 2032. Revenue through neurology clinical trials grew at 5.3% CAGR from 2017 to 2021. The USA contributes to a vast number of neurological patients which drives the need for expanding clinical trials. In 2020, 5.8 million Americans suffered from Alzheimer’s disease. This number is projected to triple to 14 million by 2060.
Companies like Biogen and IQVIA have continuously advanced in innovating new drugs and receiving FDA approvals for neurological disorders in America. Government agencies like the National Institute of Neurological Disorders and Stroke fund clinical trials and numerous research programs to reduce the burden of neurological disorders in the USA. The absolute dollar opportunity growth in the USA is expected to be at USAD 1.8 billion during the forecasted period of 2022 to 2032.
The market for neurology clinical trials in the United Kingdom was valued at USAD 226 million in 2021. With an absolute dollar opportunity of USAD 254 million, the market in the country is projected to reach a valuation of USAD 493 million by 2032. From 2022 to 2032, the market in the United Kingdom is projected to grow at a CAGR of 7.6%.
In Japan, the neurology clinical trials market in Japan was held at USAD 179 million in 2021. By 2032, the market in Japan is expected to reach a valuation of USAD 338 million. Growing at a CAGR of 5.7% from 2022 to 2032, the market in the country is likely to gross an absolute dollar opportunity of USAD 145 million.
The neurology clinical trials market in South Korea is expected to be valued at USAD 192 million by 2032. With a CAGR of 5.9%, the market in South Korea is expected to gross an absolute dollar opportunity of USAD 84 million during the forecast period.
Interventional study design dominated the market for neurology clinical trials and accounted for a 5.6% CAGR from 2017 to 2021. It is expected to grow at a rate of 6.5% during the forecasted period.
The interventional study design is preferable in most clinical trials due to its safety and cost-effectiveness and acceptability of the Intervention. Interventional study design assists in gauging the direct impact on treatments or prevention of neurological diseases.
Health organizations and pharmaceutical companies are largely aiming at expanding their manufacturing facilities, investing in Research and Development (R&D), and inventing new drugs for the treatment of neurological disorders.
The key companies operating in the neurology clinical trials market include Novartis, Covance, Medpace, Charles River Laboratories, Syneous Health, Icon Plc, GlaxoSmithKline, Aurora Healthcare, Biogen, and IQVIA.
Some of the recent developments by key providers of neurology clinical trials are as follows:
Similarly, recent developments related to companies involved in Neurology Clinical Trials have been tracked by the team at Future Market Insights, which is available in the full report.
The global Neurology Clinical Trials market was valued at USD 5.4 billion in 2021 and USD 5.7 billion in 2022.
The Neurology Clinical Trials industry is set to witness a high growth rate of 5.4% over the forecast period and is valued at USD 10.5 by 2032.
Interventional study design maintained its largest share by 5.6% CAGR in 2021 and is expected to grow at 6.5% CAGR during the forecasted period of 2022 to 2032.
Novartis, Covance, Medpace, Charles River Laboratories, Syneous Health, Icon Plc, GlaxoSmithKline, Aurora healthcare, Biogen and IQVIA are the key companies operating in Neurology Clinical Trials Market
Huntington’s disease dominates the market for neurology clinical trials with 5.2% CAGR during 2017 to 2021. Anticipated growth rate of Huntington’s disease is 6.0% during the forecasted period.
The USA, The United Kingdom., China, Japan, and South Korea are expected to drive the most sales growth of neurology clinical trials
The neurology clinical trials market in the USA is valued at USD 3.7 billion in 2032 and is expected to achieve a growth rate of 6.6% during the forecasted year.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Phase 5.1. Phase I 5.2. Phase II 5.3. Phase III 5.4. Phase IV 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Study Design 6.1. Interventional 6.2. Observational 6.3. Expanded Access 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Indication 7.1. Epilepsy 7.2. Parkinson's Disease (PD) 7.3. Huntington's Disease 7.4. Stroke 7.5. Traumatic Brain Injury (TBI) 7.6. Amyotrophic Lateral Sclerosis (ALS) 7.7. Muscle regeneration 7.8. Other Indications 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. IQVIA 18.2. Novartis 18.3. Covance 18.4. Medpace 18.5. Charles River Laboratories 18.6. GlaxoSmithKline 18.7. Aurora Healthcare 18.8. Biogen 19. Assumptions & Acronyms Used 20. Research Methodology
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Neurology Clinical Trials Market
