The Nigeria Neurology Clinical Trials market is projected to grow from $4.71 Mn in 2022 to $7.79 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022 - 2030. The market will be driven by the high prevalence of neurological disorders and the development of a framework for aiding more clinical trials. The market is segmented by phase, by study design & by indication. Some of the major players include Pfizer Inc., Novartis AG & Merck & Co.
The Nigeria Neurology Clinical Trials market is projected to grow from $4.71 Mn in 2022 to $7.79 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022 - 2030. According to Nigerian hospital-based retrospective research, the prevalence of neurological illnesses in Enugu is 48.7%. Moreover, a semiurban community prevalence research in Edo State, Nigeria, discovered a 45.4% incidence of neurological diseases. Another community-based research in southwest Nigeria found a crude incidence of 352 neurological diseases per 1000 people. The prevalence of neurological illnesses is higher in developing nations due to factors such as a lack of healthcare facilities and professionals to treat the problems. In Nigeria, the aggregated gross prevalence of dementia was 4.9% with women having a substantially higher prevalence than males.
Nigeria's neurology clinical trials industry is still in its early stages, with less activity compared to other areas. Nonetheless, multiple variables point to the possibility of future expansion in this field. Nigeria suffers from a high prevalence of neurological ailments such as stroke, epilepsy, and neurodegenerative diseases such as Parkinson's and Alzheimer's. Because of the high illness load, there is a considerable need for novel and creative therapies, making the nation an appealing venue for clinical trials in the neurology field. Although the Nigerian neurology clinical trials industry is still in its infancy, there is room for expansion owing to the country's high illness burden, vast and diversified population, and the well-established healthcare system. Yet, in order to realise the full potential of this market, legislative and ethical constraints, as well as logistical difficulties, must be addressed.
Market Growth Drivers
Many reasons drive the Nigerian neurology clinical trials market, including the country's high prevalence of neurological illnesses, the rising need for novel therapies, and the existence of a well-established healthcare system. Nigeria has a high prevalence of neurological illnesses, such as stroke, epilepsy, and neurodegenerative diseases including Parkinson's and Alzheimer's. This high illness burden necessitates the development of innovative and effective therapies, making Nigeria. Moreover, rising investment in clinical research, notably in neurology, is being driven by Nigeria's growing desire for novel medicines. Furthermore, Nigeria's well-established healthcare system, which includes an increasing number of hospitals and clinics, serves as a solid basis for clinical trial infrastructure.
There are also various constraints that may impede the development of the Nigerian neurology clinical trials market. One key impediment is the country's lack of regulatory and ethical structures to oversee clinical trials. Although Nigeria has made progress in building these frameworks, more effort has to be done to guarantee that clinical trials in the nation are safe, ethical, and transparent. Moreover, there are practical obstacles connected with conducting clinical trials in Nigeria, such as concerns with infrastructure, transportation, and communication. These obstacles may raise the expense and difficulty of conducting clinical trials in the nation, discouraging some sponsors from entering the market. Furthermore, a lack of clinical research funding and resources in Nigeria may hinder the potential of local researchers to perform high-quality clinical trials in the neurology domain, further limiting the market's development.
September 2021, Aminu Kano Teaching Hospital (AKTH), Bayero University Kano (BUK), and Vanderbilt Institute for Global Health (VIGH) in Kano, Nigeria, have a long history of NIH-funded partnerships in juvenile brain diseases. These three universities are collaborating on a new $1.2 million, five-year training programme supported by the National Institutes of Health's (NIH) Fogarty International Center's Chronic, Noncommunicable Diseases and Disorders Across the Lifespan Training Program. The new funding will help Nigerian researchers study child neurology and epilepsy.
The National Agency for Food and Drug Administration and Control (NAFDAC) is in charge of protocol evaluation and clinical trial approvals before they are performed in Nigeria. It is also in charge of inspecting trial locations and monitoring the conduct of permitted research to guarantee that the participants' well-being and safety are safeguarded and that valid data is produced from the study.
The National Health Research Ethics Committee (NHREC) is in charge of accrediting Independent Ethics Committees (IECs) and/or Institutional Review Boards (IRBs) that provide ethical advice on research protocols based on the number of trial sites participating.
1. Report Description of the Nigeria Neurology Clinical Trials Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Nigeria Neurology Clinical Trials Market Executive Summary
2.1 Nigeria Neurology Clinical Trials Market –Industry Snapshot & key buying criteria, 2022-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Nigeria Neurology Clinical Trials Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Nigeria Neurology Clinical Trials Market Segmentation
4.1 By Phase
4.1.1 Phase I
4.1.2 Phase II
4.1.3 Phase III
4.1.4 Phase IV
4.2 By Study Design Outlook
4.2.2 Parkinson's Disease (PD)
4.2.3 Huntington's Disease
4.2.5 Traumatic Brain Injury (TBI)
4.2.6 Amyotrophic Lateral Sclerosis (ALS)
4.2.7 Muscle regeneration
4.3 By Indication Outlook
4.3.3 Expanded Access
5. Nigeria Neurology Clinical Trials Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Nigeria
8.2 Regulatory Framework in Nigeria
8.3 Pricing & Reimbursement Scenario in Nigeria Neurology Clinical Trials Market
9. Factors Driving Future Growth
9.1 New Trends and Development Nigeria Neurology Clinical Trials Market
9.2 Future Opportunities
10. Strategic Recommendations
By Phase (Revenue, USD Billion):
By Study Design Outlook (Revenue, USD Billion):
By Indication Outlook (Revenue, USD Billion):
Insights10 will provide you with the reports within 10 key parameters which are:
Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
Stage II: Market Data Analysis and Statistical Model
Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.
The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.
Stage III: Interpretation and Presentation
Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.
Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses