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.
|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.
The Neurology Clinical Trials market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Neurology Clinical Trials market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Neurology Clinical Trials market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Neurology Clinical Trials market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Neurology Clinical Trials market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Neurology Clinical Trials capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Neurology Clinical Trials by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Neurology Clinical Trials market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Neurology Clinical Trials market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Neurology Clinical Trials market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Neurology Clinical Trials industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Neurology Clinical Trials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Neurology Clinical Trials market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Neurology Clinical Trials market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Neurology Clinical Trials market. These factors have benefited the growth of the global market for Neurology Clinical Trials. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Neurology Clinical Trials. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Neurology Clinical Trials are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- 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
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are: