Neurology Clinical Trials Market is expected to expand at a CAGR of 5.5% from 2021 to 2028

 Neurology Clinical Trials Industry Overview

The global neurology clinical trials market size is expected to reach USD 7.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2021 to 2028. This is largely attributed to big pharma companies conducting innovative trials in neurology, increased government funding from the National Institute of Neurological Disorders and Stroke (NINDS), and stringent regulatory requirements pertaining to clinical trials. 

 

Neurology Clinical Trials Market Segmentation

Grand View Research has segmented the global neurology clinical trials market based on phase, study design, indication, and region:

Based on the Phase Insights, the market is segmented into Phase I, Phase II, Phase III, Phase IV

  • The phase II clinical trials segment dominated the market for neurology clinical trials and held the largest 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 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.

 

Based on the Study Design Insights, the market is segmented into Interventional, Observational, and Expanded Access

  • Based on the study design, the interventional segment led the market for neurology clinical trials and accounted for the largest revenue share of 81.2% 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. 

 

Based on the Indication Insights, the market is segmented into Epilepsy, Parkinson's Disease (PD), Huntington's Disease, Stroke, Traumatic Brain Injury (TBI), Amyotrophic Lateral Sclerosis (ALS), Muscle regeneration and Others

  • The Huntington’s disease segment is anticipated to register the fastest growth rate of 6.0% throughout the forecast period. This is largely attributed to increasing R&D investment and the high prevalence of the disease all around the globe. 
  • The EU Clinical Trials Register lists 40,633 clinical trials using the EudraCT protocol, with 6629 of those including children under the age of 18. 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. 

 

Neurology Clinical Trials Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

Market participants are implementing a range of strategic initiatives, such as new partnership agreements, collaborations, mergers and acquisitions, and geographic expansions, with the aim of strengthening their services and gaining a competitive edge.

Some of the prominent players in the neurology clinical trials market include:

  • Novartis
  • Covance
  • Medpace
  • Charles River Laboratories
  • Syneous Health
  • Icon Plc
  • GlaxoSmithKline
  • Aurora healthcare
  • Biogen
  • IQVIA

 

Order a free sample PDF of the Neurology Clinical Trials  Market Intelligence Study, published by Grand View Research. 

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