PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279921
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279921
Global Neurology Clinical Trials Market is valued at approximately USD 5.24 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2023-2030. Neurology clinical trials are scientific studies conducted in humans to evaluate the safety and efficacy of new treatments, drugs, devices, or diagnostic procedures for neurological conditions. Neurological conditions are disorders that affect the brain, spinal cord and nerves that control movement, sensation, thinking, and behavior. The Neurology Clinical Trials Market is expanding because of factors such as the rising increasing prevalence of neurological diseases such as Alzheimer's disease, epilepsy, and stroke and a growing number of clinical trials and research activities.
The growing prevalence of neurological disorders across the globe is fostering market growth. According to a report from Alzheimer Disease International Organization, in the year 2020, globally there were around 55 million people suffering from dementia and this figure is expected to reach 78 million in the year 2030 and 139 million by the year 2050. Furthermore, the rising number of neurological clinical trials activities is further driving the market growth, According to the Alzheimer's Association article "Alzheimer's Disease Drug Development Pipeline: 2021", There were 121 drugs in clinical trials to treat Alzheimer's disease, 39 Phase 3 trials are using 29 agents, 73 Phase 2 trials involving 65 agents, and 27 Phase 1 trial including 27 agents. Twelve medicines are now undergoing clinical trials with the goal of improving cognition, and 12 others are meant to treat behavioral and neuropsychiatric problems. As of February 2020, 97 drugs were undergoing studies to modify illness. Along with these, ClinicalTrials.gov reports that as of June 2022, there are 1,755 epilepsy studies in progress. Thus, the rising number of clinical trials activities is driving the market growth. In Addition, increasing funding for neurological studies by public organizations and a significant number of CROs providing neurology clinical research services is creating a lucrative opportunity for the market. However, the high cost of Neurology Clinical Trials stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Neurology Clinical Trials Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players, rising FDA approvals for clinical trials, and the rising prevalence of neurological disorders in the region. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising prevalence of neurological conditions, an increase in the number of collaborations for clinical trials, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Phaseofferings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable