The global Neurology Clinical Trials Market size is expected to reach USD 7.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2021 to 2028. 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 stringent regulatory requirements pertaining to clinical trials.
Neuroscience continues to receive a healthy level of
early investment. It received USD 1.5 billion in venture capital funding in
2018, second only to cancer, indicating that investors expect a large pharma
acquisition to pay off in the near future. As the industry strives to move past
the many late-stage clinical failures of recent years, early diagnosis of
diseases is attracting investment and driving deal-making in the complex
neuroscience sector, particularly for pain and Alzheimer's disease.
In terms of deal volume, no other therapy area comes
close to matching oncology, but neuroscience is among the nearest contenders.
Despite a drop in total expected value in 2017, the number of
neuroscience-related licensing deals has gradually climbed over the last
decade. The vast majority of neuroscience agreements ~90%have a primary
neurological focus, which corresponds to the level of R&D activity in the
two disciplines.
Many experimental therapeutics require dosage by
on-site administration and carefully scheduled outcome measure evaluations
hence, the COVID-19 pandemic has significantly harmed the implementation of the
precise procedures required to establish proof of safety and efficacy. The
COVID-19 has resulted in the shutdown of the network of centers conducting
stroke clinical trials. This was followed by a phased research restart plan
that took local circumstances and regulatory oversight into account. This
approach was successful in a reengaging research effort to some extent in all
but one of the ongoing investigations within 55 days.
Related Press Release@ Neurology Clinical Trials Market Report
Neurology Clinical Trials Market
Report Highlights
- The phase II segment dominated the market and accounted for a
maximum revenue share of 36.7% in 2020. Between 1999 and 2020, 8,205 CNS
trials were conducted, with 609 trials being conducted in 2020
- The interventional segment held the largest market revenue share of
81.1% in 2020
- The Huntington's disease segment is anticipated to register the
fastest CAGR of 6.0% over the forecast period. This is largely due to the
high prevalence of the disease around the world
- North America dominated the market and accounted for a revenue
share of 45.8% in 2020. The rising prevalence of neurological disorders
and the presence of a large number of players in clinical trials drive the
market in the region
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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