In 2023, the market size for neurology clinical trials is projected to expand at a compound annual growth rate (CAGR) of 5.5% during the forecast period of 2023 and 2031. Increasing neurological diseases, such as dementia, stroke, and peripheral neuropathy, as well as growing R&D investments in neurological research are largely responsible for this trend. In June 2023, for instance, the "SGT-53 in Children with Recurrent or Progressive CNS Malignancies" study was initiated. In May of 2023, a similar study titled "GB5121 in Adult Patients with Relapsed/Refractory CNS Lymphoma" was initiated. After the pandemic, an increase in the number of studies is anticipated to stimulate market expansion.
The high prevalence of neurological diseases worldwide has increased sponsors' and investors' interest in providing funding for neurological clinical studies. Neurological research has received substantial funding over the years. In March 2023, for instance, a team of researchers from Brown University, New York University, and the University of Rochester received USD 16.0 million from the NIH to support Alzheimer's disease research. Future initiatives of this nature are anticipated to foster segment market expansion.
Globally, the elderly population has grown significantly over time. By 2050, this number is projected to reach 2.1 billion, according to the World Health Organization (WHO). In 2020, there were over 1.4 billion people aged 60 and older, and this number is expected to increase to 2.1 billion by 2050. Neurological disorders such as Alzheimer's disease, stroke, and Parkinson's disease are largely attributable to the aging of the population. As of 2019, Alzheimer's disease is one of the most prevalent neurological diseases, affecting more than 50 million people worldwide. Parkinson's disease affects 10 million individuals worldwide. The high prevalence of these diseases is anticipated to increase the demand for research, which will stimulate market expansion.
To facilitate clinical trials for patients, a significant number of neurological trials are currently decentralized. For instance, Firma Clinical Research and C2N Diagnostics initiated a decentralized Alzheimer's disease diagnostic clinical trial in August 2020. Increasing adoption of such trials is anticipated to increase the interest of participants in clinical studies, thereby substantially boosting the market.
Phase II Led the Market by Phase
In 2023, the phase II clinical trials segment dominated the neurology clinical trials market with a 45% revenue share. The market is segmented into Phase I, Phase II, Phase III, and Phase IV based on phase. The increasing number of industry-sponsored and non-industry-sponsored phase II clinical trials, the complexity of phase II clinical trials, and the globalization of clinical trials all contribute to the segment's growth. In the past few years, a significant number of phase I drugs have been approved. In May 2021, for instance, PharmaTher Holdings Ltd. announced that the U.S. Food and Drug Administration (FDA) had approved its Investigational New Drug (IND) application to advance the company's ketamine drug to phase II clinical trial, to study the drug's safety, efficacy, and pharmacokinetics in Parkinson's patients. Such approvals are anticipated to further boost segment growth.
Phase III is expected to experience the highest growth rate of 5.6% CAGR over the forecast period. This expansion may be attributable to the fact that phase III clinical trials are the most expensive and involve the greatest number of participants. In order to determine the treatment's safety and efficacy, market participants in clinical trials are initiating phase III trials aggressively. Pfizer, for example, stated in April 2023 that it intends to open clinical trial sites to conduct phase III trials of its investigational mini-dystrophin gene therapy used to treat patients with Duchenne muscular dystrophy. Such initiatives by market participants are likely to stimulate segment expansion.
Epilepsy Dominated the Market by Indications
Throughout the forecast period, the Huntington's disease segment is anticipated to record the highest growth rate of 6.2%. The market is segmented by indication into epilepsy, Parkinson's disease (PD), Huntington's disease, stroke, traumatic brain injury (TBI), amyotrophic lateral sclerosis (ALS), and others. Due to the absence of treatment for Huntington's disease, there is a high demand for novel medications.
The majority of cases are inherited or caused by mutation. As of June 2023, there were only 222 studies registered for HD, the majority of which were in phases I and II, and only three were reported to be in phase IV. It is anticipated that the low number of phase IV studies and the relative lack of medication for the diseases will increase the demand for research, which will have a positive effect on the market.
In 2023, epilepsy accounted for the largest share, 22%. According to the WHO, epilepsy is one of the most prevalent neurological diseases, affecting over 65 million people worldwide. Eighty percent of all epilepsy cases occur in low- and middle-income nations. As of June 2023, ClinicalTrials.gov lists a total of 1,755 epilepsy-related studies. The segment's market is anticipated to be driven by rising awareness of epilepsy and demand for innovative treatments for the condition.
Interventional Segment Dominated the Market by Study Design
In 2023, the interventional segment dominated the market for neurology clinical trials, with a 96% revenue share. The market is segmented into interventional, observational, and expanded access based on the study design. Globally, a large number of interventional studies for Central Nervous System (CNS) disorders are being conducted, which accounts for the expansion.
As of June 2023, ClinicalTrials.gov lists over 23,000 interventional studies related to CNS disorders. In April 2023, for instance, a feasibility study entitled Feasibility of Acquiring Hyperpolarized Imaging in Patients with Primary CNS Lymphoma was recruiting participants. All of these elements contribute to the segment market.
During the forecast period, the observational segment is projected to grow at a rate of 5.8% annually. Observational studies are routinely used to evaluate treatment effects in a variety of situations, including post-marketing drug safety assessments and when clinical trials are not feasible. In addition, as of June 2023, more than 7,900 of the total CNS condition studies listed on ClinicalTrials.gov are observational.
In January 2023, for example, the observational study titled "The Use of Biomarkers to Predict CNS Involvement in Diffuse Large B-Cell Lymphoma: A Danish Nationwide Registry Study" was concluded.
North America Remains as the Global Leader
In 2023, North America dominated the neurology clinical trials market, accounting for 45.0% of its total revenue. The market for neurology clinical trials in the region is driven by the rising prevalence of neurological disorders and the presence of a large number of players in clinical trials. As the population ages and life expectancy increases, dementia will become more prevalent, with an estimated 8.4 million Americans 65 and older suffering from Alzheimer's disease or another form of dementia by 2030. There are a large number of neurological patients in the United States, which increases the need for expanding clinical trials. 5.8 million Americans were affected by Alzheimer's disease in 2020. By 2060, this number is expected to triple to 14 million.
In the United States, companies such as Biogen and IQVIA have made continuous advances in the development of new drugs and FDA approvals for neurological disorders. Government agencies, such as the National Institute of Neurological Disorders and Strokes, fund clinical trials and numerous research programs in an effort to reduce the prevalence of neurological disorders in the United States. During the period between 2023 and 2032, the U.S. dollar opportunity growth is projected to reach $1.8 billion.
Asia-Pacific is anticipated to grow at the fastest rate over the forecast period, 6% annually. As numerous developed nations invest in the Asia Pacific region, it is the market with the highest growth rate. In comparison to North America and Europe, enrolment in clinical trials is rising in Asia. Due to the large patient pool and low trial costs, this is the case. Moreover, researchers in the region are actively developing new neurological treatments. For instance, in February 2021, scientists at the Jawaharlal Nehru Centre for Advanced Scientific Research in India developed a small molecule called TGR 63, which had the ability to disrupt the mechanism by which neurons in Alzheimer's disease become non-functional. These research endeavors are likely to contribute to regional market expansion.
Domination of Top Companies to Barricade the Entry of New Entrants
The global market is comprised of a large number of multinational corporations. Most of these companies pursue regional expansions, partnerships, collaborations, and M&A activities as their primary strategies. In April 2023, Labcorp, the parent company of Covance, collaborated with Xcell Biosciences, a developer of cell and gene therapy technologies, to expand its cell & gene therapy research capabilities. Labcorp and Xcellbio will work together to improve the efficacy and safety of cell and gene therapies for Parkinson's disease, cancer, and other diseases. Novartis, Covance, Med pace, Charles River Laboratories, Syneous Health, Icon Plc, GlaxoSmithKline, Aurora healthcare, Biogen, IQVIA and Others.
Recent developments by leading providers of neurology clinical trials include the following:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Neurology Clinical Trials market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Phase
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Study Design
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Indication
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
