Neurology Clinical Trials Market Size to Hit Around USD 12.01 BN By 2032

The global neurology clinical trials market size was exhibited at USD 6.9 billion in 2022 and is projected to hit around USD 12.01 billion by 2032, growing at a CAGR of 5.7% during the forecast period 2023 to 2032.

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Key Pointers:

• North America dominated the neurology clinical trials market and accounted for the largest revenue share of 47.18% in 2022.?
• Asia Pacific is expected to expand with the fastest CAGR of 5.11% across the forecast.?
• The phase II clinical trials segment dominated the market for neurology clinical trials and held the largest revenue share of 46.9% in 2022.
• Phase III is anticipated to register the fastest growth of 5.7% CAGR throughout the forecast period.
• The Huntington’s disease segment is anticipated to register the fastest growth rate of 6.1% throughout the forecast period.
• Epilepsy held the largest share of 21.19% in 2022.
• The interventional segment led the market for neurology clinical trials and accounted for the largest revenue share of 96.14% in 2022.?
• The observational segment is anticipated to witness a substantial expansion of 5.9% CAGR throughout the forecast period.

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 the high prevalence of neurological disorders worldwide.

Neuroscience continues to receive a healthy investment. For instance, in November 2022, NRG Therapeutics raised Series A funding of USD 18.3 million for the development of mitochondrial therapeutics to treat neurodegenerative ailments such as amyotrophic lateral sclerosis (ALS) and Parkinson’s disease. The adoption of similar initiatives in the future is expected to support market growth.

A significant number of people worldwide suffer from neurological disorders. For instance, as per the statistics from Parkinson's Foundation, every year 60,000 Americans are diagnosed with PD and more than 10 million people are living with the disease around the world. In terms of Epilepsy, the WHO states that more than 65 million people worldwide are affected by it. The disease is most prevalent in low- and middle-income countries, which account for 80.0% of epilepsy cases. A high prevalence of neurological disorders is expected to boost demand for clinical trials and thus support the market.

Neurology is considered as one of the major areas where clinical trials are conducted. As per the Pharma R&D Annual Review, in 2021, Neurology trials were the third area where clinical trials were majorly focused. The Pharma R&D Annual Review stated that for neurology above 2,900 drugs were under trial and in the year 2022 the number of drugs for clinical studies in the area of neurology accounted for more than 3,200 active drugs. An increasing number of drugs entering clinical trials in the area of neurology are expected to support the market in the post-pandemic period.

Regional Insights

North America dominated the neurology clinical trials market and accounted for the largest revenue share of 47.18% in 2022. The rising prevalence of neurological disorders and the presence of a large number of players in clinical trials are driving the market for neurology clinical trials in the region. As the population ages and total life expectancy rises, dementia would become more common, with an estimated 10.9 million Americans aged 65 and older suffering from Alzheimer's disease or another dementia by 2032.

Asia Pacific is expected to expand with the fastest CAGR of 5.11% across the forecast. Asia Pacific is the fastest-growing market as many developed nations are investing in the Asia Pacific region. Recruitment for clinical trials is increasing in Asia as compared to North America and Europe. This is due to the large patient pool & low trial cost. Moreover, researchers are actively developing new neurological treatments in the region.

For instance, in February 2021, researchers at Jawaharlal Nehru Centre for Advanced Scientific Research in India developed a small molecule named TGR 63, which had the ability to disturb the mechanism through which neurons become nonfunctional in Alzheimer's disease. Such research activities are likely to contribute to the market growth of the region.

Some of the prominent players in the Neurology Clinical Trials Market include:

• Novartis
• Covance
• Med pace
• Charles River Laboratories
• Syneous Health
• Icon Plc.
• GlaxoSmithKline
• Aurora healthcare
• Biogen
• IQVIA

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global 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

By Indication by Study Design?

• Epilepsy Interventional Observational Expanded Access
• Parkinson's Disease (PD) Interventional Observational Expanded Access
• Huntington's Disease Interventional Observational Expanded Access
• Stroke Interventional Observational Expanded Access
• Traumatic Brain Injury (TBI) Interventional Observational Expanded Access
• Amyotrophic Lateral Sclerosis (ALS) Interventional Observational Expanded Access
• Muscle regeneration Interventional Observational Expanded Access
• Others Interventional Observational Expanded Access

By Indication by Phase?

• Epilepsy Phase I Phase II Phase III? Phase IV
• Parkinson's Disease (PD) Phase I Phase II Phase III? Phase IV
• Huntington's Disease Phase I Phase II Phase III? Phase IV
• Stroke Phase I Phase II Phase III? Phase IV
• Traumatic Brain Injury (TBI) Phase I Phase II Phase III? Phase IV
• Amyotrophic Lateral Sclerosis (ALS) Phase I Phase II Phase III? Phase IV
• Muscle regeneration Phase I Phase II Phase III? Phase IV
• Others Phase I Phase II Phase III? Phase IV

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

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