Global Neurology Clinical Trials Market Report and Forecast 2024-2032

Global Neurology Clinical Trials Market Outlook

The global neurology clinical trials market size was valued at USD 5.7 billion in 2023, driven by increasing technological innovations across the globe. The market size is anticipated to grow at a CAGR of 5.7% during the forecast period of 2024-2032 to achieve a value of USD 9.4 billion by 2032.

Neurology Clinical Trials: Introduction

Neurology clinical trials are research studies that assess medical, surgical, or behavioral intervention in people related to diseases and disorders associated with brain or cognitive behavior. These trials are among the primary approaches that are used by the researchers to determine if a new treatment or prevention, such as a new drug, diet, or medical device, is safe to use and effective in people. A neurology clinical trial is mostly designed to learn if a new treatment is more effective or has fewer harmful side effects than existing treatments associated with it.

Neurology diseases are becoming more common around the world, with conditions such as epilepsy, Alzheimer's and other forms of dementia, strokes, migraines, multiple sclerosis, Parkinson's disease, neurological infections, brain tumors, or any other issue in nervous system. As a result, there has been a rise in the number of clinical trials being conducted to find treatments for these conditions, emphasizing the importance of addressing these diseases as soon as possible.

Global Neurology Clinical Trials Market Analysis

The market has been witnessing significant growth due to the increasing number of neurology clinical trials. For example, a new groundbreaking trial has been conducted at the UCL (University College London) and UCLH (University College London Hospitals). This trial is one of its kind and has found a new genetic therapy for Alzheimer’s disease that assists patients in recovering from the disease by lowering the levels of the harmful protein responsible for it, known as the Tau Protein. Such clinical trials are expected to further escalate the neurology clinical trials market growth as the demand for new therapeutic approaches and personalized treatments is continuously on the rise.

Moreover, the market growth is driven by the continuous expansion of decentralized trial models. Decentralized trials are remote trials that provide added flexibility and patient-centered study designs facilitating the collection of data from patients remotely in real-time. Participation in clinical trials with the use of advanced technologies like telemedicine, remote monitoring, and electronic consent has become easier for patients without needing to visit the trial site physically.

Global Neurology Clinical Trials Market Segmentations

Market Breakup by Type

• Phase I

• Phase II

• Phase III

• Phase IV

Market Breakup by Indications

• Epilepsy

• Stroke

• Alzheimer's Disease (AD)

• Parkinson's Disease (PD)

• Others

Market Breakup by Study Design

• Interventional

• Observational

• Expanded Access

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Neurology Clinical Trials Market Overview

Neurological diseases are among the most common causes of the rising mortality rate in the geriatric population. Most people with dementia are diagnosed with one or more chronic health conditions in their lifetime. The major reason for this is the increasing number of neurological diseases, such as dementia, stroke, and peripheral neuropathy. The market growth is driven by the growing research and development investments in neurological research activities. Rising government funding for neurological research is also anticipated to contribute to the neurology clinical trials market growth. Major pharmaceutical companies are focusing on conducting clinical trials in neurology to find and improve new treatment approaches for neurological disorders and diseases resulting in patient outcomes. The market is simultaneously driven by the increasing prevalence of various neurological diseases.

North America has been dominating the global market owing to the rising prevalence of neurological disorders and the presence of major market players in clinical trials. The market growth is also driven by the increasing number of geriatric patients with dementia exemplified by the estimate that nearly 8.4 million people in the region aged 65 and older are expected to be suffering from Alzheimer's disease or another dementia by 2030.

Global Neurology Clinical Trials Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Supernus Pharmaceuticals, Inc.

• AstraZeneca

• Aurobindo Pharma

• Eisai Co., Ltd.

• Eli Lilly and Company

• Aurora Health Care

• AbbVie Inc.

• Zydus Group

• Athira Pharma, Inc.

• Annovis Bio

Key Highlights of the Report