Neurology Clinical Trials Market Size, Share Report, Analysis, Trends, Growth, 2032

Neurology Clinical Trials Market Insights

According to Zion Market Research, the global Neurology Clinical Trials Market was worth USD 21.51 Billion in 2023. The market is forecast to reach USD 32.80 Billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Neurology Clinical Trials Market industry over the next decade.

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Neurology Clinical Trials Industry Prospective:

The report offers an assessment and analysis of the Neurology Clinical Trials Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Neurology Clinical Trials Market: Outlook

Massive strides have been made in diagnosing & treating various medical conditions including neurological conditions. Apparently, clinical trials are conducted for assessing the effectiveness and safety of new medical therapies that are to be used for treating neurological conditions. According to NIH researchers, clinical trials have proved to be a key tool in bringing new medical treatments for patients suffering from neurological conditions.

The prominent rise in neurological ailments including dementia, stroke, and peripheral neuropathy caused due to job losses from lockdowns arising as a result of the COVID-19 outbreak has led to an increase in neurology clinical trials across the globe in recent times. Massive clinical tests & research has been carried out by various biotech & pharma firms and their onus is on developing curative medicines that can effectively treat neurological disorders. This has provided impetus to the neurology clinical trials industry and also has led to an increment in the number of neurology clinical trials across the globe.

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Neurology Clinical Trials Market: Growth Drivers

The growing need for effectively treating neurological conditions such as Alzheimer's and Parkinson's disease will culminate in the immense growth of the neurology clinical trials market. Apparently, drug makers are also focusing on other neurological disorders including spinal muscular atrophy. Some of neurological disorders are also caused due to genetic mutation and hereditary causes. Hence, researchers are trying to identify and target those genes that are responsible for neurological disorders and then disable them to prevent the transmission of genetic neurological disease to the next generation. All these aforementioned factors are predicted to steer the expansion of the neurology clinical trials market.

Furthermore, technological breakthroughs in the biotech & pharma sectors can prop up the proficiency and productivity of neurology clinical trials along with increasing patient engagement, thereby driving market trends. In addition to this, virtual clinics, wearable devices, and remote monitoring have made neurology clinical trials more patient-centric and this has paved the way for geometric growth of the neurology clinical trials market.

Neurology Clinical Trials Market: Report Scope

Neurology Clinical Trials Market:​ Regional Landscape

North American Market Size To Expand Exotically Over 2024 - 2032

The growth of the neurology clinical trials market in North America over the forecast period is subject to a surge in the occurrence of neurological ailments in countries such as the U.S. in recent times due to a large number of deaths caused due to COVID pandemic.  Apart from this, the presence of giant players in the region will further aid the growth of the neurology clinical trials industry in North America. The rise in life expectancy due to easy access to advanced healthcare facilities has resulted in a prominent surge in the aging population prone to common neurological disorders such as memory loss and dementia. This is projected to result in steep growth of the neurology clinical trials market in North America in the years to come.

Neurology Clinical Trials Market:​​ Competitive Landscape

Key players profiled in the study and influencing the market growth include 

• Novartis AG
• Labcorp Drug Development
• Charles River Laboratories
• Medpace Holdings. Inc.
• Icon Plc
• Syneos Health
• GlaxoSmithKline Plc
• Aurora Healthcare
• Biogen Inc.
• IQVIA.

The global Neurology Clinical Trials Market is segmented as follows:

By Phase

• Phase IV
• Phase I
• Phase II
• Phase III

By Study Design

• Interventional
• Observational
• Expanded Access

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa