Neurology Clinical Trials Market Size, Share & Trends Analysis Report 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) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global neurology clinical trials market size was valued at USD 5.01 billion in 2021, and is projected to reach USD 8.23 billion by 2030, registering a CAGR of 5.67% from 2022 to 2030.

 The field of neuroscience keeps drawing a respectable amount of early venture money. It garnered USD 1.5 billion in venture capital funding, the second highest amount behind cancer, indicating that investors anticipate a huge pharma acquisition to pay off shortly. Early illness detection draws investment and drives deal-making in the complex neuroscience sector, particularly for pain and Alzheimer's. This comes when the industry is working to move past the many late-stage trial failures over the previous few years. No other therapeutic area comes close to matching the volume of deals that are done in cancer, although neuroscience is one of the areas that is among the closest rivals. Over the past ten years, there has been a slow but steady increase in the number of license deals related to neuroscience, even though the total estimated value has decreased. The majority of neuroscience agreements, in the range of 80–90 percent, have a primary neurological focus, reflecting the level of research and development activity in both fields.

The utilization of novel outcomes enhanced patient participation, and a reduction in the load placed on patients are all potential factors that could lead to an improvement in the efficiency and effectiveness of neurology clinical trials. The implementation of technological enhancements could bring about the realization of these potential benefits. Utilizing cutting-edge technology to conduct clinical trials in a manner that is more attentive to the needs of participants, such as through virtual clinical trials, remote monitoring, and wearable devices, is one way that the objective of making clinical trials more patient-centered might be accomplished.

Market Dynamics

Market driving factors

Neurological illnesses such as dementia, stroke, and peripheral neuropathy are on the rise

This can be primarily attributable to an expansion in neurological disorders like dementia, stroke, and peripheral neuropathy, as well as an increase in spending on research and development in the field of neurological study. Numerous prominent pharmaceutical companies have made neuroscience one of their primary research focuses. In late-stage testing, Alzheimer's treatments developed by AstraZeneca, Lilly, Merck, Novartis, Pfizer, and Roche failed. However, Biogen, a prominent neuroscience company, intends to convince regulators to approve a drug that operates in a manner comparable to its competitors' failed attempts. After making significant progress against Alzheimer's disease, pharmaceutical companies are now focusing their efforts on other neurological conditions, such as spinal muscular atrophy. The authorization has been granted for successful treatments developed by Biogen and Novartis.

Increasing need for solutions in neurology clinical trials worldwide

The rise in demand for solutions available on the global market for neurology clinical trials can be attributed to several factors. These factors include the increasing prevalence of neurological diseases such as dementia, peripheral neuropathy, and stroke and the growth in financial investments designed to advance neurological research endeavors. The expansion of the neurology clinical trials market is driven by an increase in the prevalence of a wide range of genetic and neurological illnesses. This expert survey research is an all-encompassing analysis of the various micro and macroeconomic aspects expected to shape the dynamics of the neurology clinical trials market between 2020 and 2030 covered in the forecast. The research report provides information regarding particular sub-markets that make up the worldwide market for neurology clinical trials.

Market restraining factors

Limited understanding of the biology underlying disease

Traditional examination means, such as a biopsy, might be challenging to perform on the brain because it is inaccessible. While basic neuroscience research has exploded in recent years, notably in clinical biology and genetics, there are still very few confirmed molecular targets for most nervous system illnesses. Those recognized primarily for psychiatric disorders such as anxiety, depression, and psychosis are in their 40s and 50s at the earliest. Innovative therapy options are difficult to create since there is insufficient novel and verified targets. The inability of investigators to examine the pharmacology of experimental medicines across numerous dimensions in proof of concept studies is hampered by the absence of convincing biomarkers and innovative disease models.

Key market opportunities

Technological innovations

Using novel outcomes, better patient participation, and decreased patient burden could improve the efficacy and productivity of neurology clinical trials. These benefits could be achieved through the application of technological advancements. The goal of making clinical trials better patient-focused can be achieved using innovative technology such as remote monitoring, virtual clinical trials, and wearable devices. Technological developments and breakthroughs, the incorporation of brand-new and cutting-edge technologies like remote monitoring, virtual clinical trials, and wearable devices, and growing investments from both the public and commercial sectors are all factors that have contributed to this progress. In the following years, there is also anticipated to be an increase in the prevalence of Huntington's disease, which is predicted to generate opportunities in the market for neurology clinical trials globally.

Regional Analysis

In 2021, North America dominated the neurology clinical trials market, accounting for 45.8 percent of total revenue. The need for neurology clinical trials in the region is driven by the increased frequency of neurological disorders and the existence of a high number of companies 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.

The neurology clinical trials market in the Middle East and Africa is anticipated to grow at a CAGR of 8.2 percent during the projected period. The Sub-Saharan Africa region is beset by neurological, psychiatric, developmental, and drug use disorders caused or aggravated by a lack of proper nutrition and infectious disease, despite rising conditions associated with growing longevity, such as stroke. Due to the war-torn atmosphere in the Middle East and North Africa, major depressive disorder and post-traumatic stress disorder are significant issues.

Segmental Analysis

In 2021, the phase II clinical trials segment dominated the neurology clinical trials market and held the most significant revenue share at 36.7%. This is mainly owing to the rarity of neurological illnesses and the lack of effective treatments. The great majority of clinical studies are conducted in phases II and III. Between 1999 and 2021, 8,205 CNS studies were conducted, including 609 in 2021. Phase III will experience the highest rate of increase during the forecast period. This expansion may be attributable to phase III clinical trials being the most expensive and involving the most significant number of subjects. Additionally, Phase III demands an enormous number of patients and, in many situations, a more extended treatment duration. The median cost of phase III clinical trials involving the central nervous system is USD 19.2 billion. From 1999 to 2021, 12,089 CNS clinical studies were undertaken, including 629 in 2021.

The Huntington's disease segment is predicted to exhibit the highest growth rate over the projection period, at 6%. This is mainly attributable to rising R&D expenditures and the worldwide frequency of the disease. The E.U. Clinical Trials Register lists 40,633 clinical trials utilizing the EudraCT protocol, of which 6,629 involve children under 18. Egypt, the numerous populous country in the Arab world, has the most considerable Huntington's disease frequency; nonetheless, the government of 100 million people is neglected in Huntington's disease research. According to a new analysis, 2.7 per 100,000 persons worldwide and 10 per 100,000 in Europe are affected by Huntington's disease. However, the disease affects approximately 21,000 Egyptians or 21 per 100,000. This rate is double the prevalence of Huntington's disease in Europe and eleven times that of the United States. Ireland (10,6 per 100,000), Norway (6,7), Italy (6,35), Australia (6,3), Denmark (5,8), the United Kingdom (5,4), Slovenia (5.2), and Sweden (4.7) are among the nations with the most significant incidence of Huntington's disease.

Based on the study design, the interventional segment dominated the neurology clinical trials market in 2021, accounting for 81.2% of total revenue. It is one of the multiple common approaches to conducting clinical experiments. Interventional studies accounted for 78.0% of all registered research, most of which used medicines or biologics, followed by behavioral, clinical procedure, and device intervention studies. Over the forecast period, the observational segment is anticipated to experience tremendous expansion. Observational studies are commonly used to examine therapy outcomes in several settings, including post-marketing drug safety assessments and when clinical trials are not practical. In observational studies, the incidence of significant prognostic variables associated with therapy and outcome frequently varies between treatment groups.

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