Saudi Arabia Neurology Clinical Trials Market Analysis

Saudi Arabia Neurology Clinical Trials Market Analysis


$ 3999

The Saudi Arabia Neurology Clinical Trials market is projected to grow from $88.9 Mn in 2022 to $152.8 Mn by 2030, registering a CAGR of 7% during the forecast period of 2022 - 2030. The market will be driven by the high prevalence of neurological disorders, and increasing investment in healthcare infrastructure. The market is segmented by phase, by study design & by indication. Some of the major players include Pfizer Inc., Novartis AG & Tabuk Pharmaceuticals.

ID: IN10SACT005 CATEGORY: Clinical Trials GEOGRAPHY: Saudi Arabia AUTHOR: Vidhi Upadhyay

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Saudi Arabia Neurology Clinical Trials Market Executive Summary

The Saudi Arabia Neurology Clinical Trials market is projected to grow from $88.9 Mn in 2022 to $152.8 Mn by 2030, registering a CAGR of 7% during the forecast period of 2022 - 2030. Saudi Arabia does spend a major portion of its yearly budget on healthcare, around 16 %, and the country has made the highest healthcare infrastructure expenditures internationally between 2010 and 2020, according to a recent Gulf Cooperation Council (GCC) study. The percentage of the population aged 65 and over in Saudi Arabia is anticipated to rise from 1.169 million (3.4%) in 2020 to 7.681 million (17.2%) by 2050. The incidence of stroke in Saudi Arabia is 43.8 per 100,000. According to research released in August 2020 titled 'Assessment of knowledge of Alzheimer's disease among health university students in Riyadh, Saudi Arabia,' the incidence of dementia in Saudi Arabia is projected to be approximately 6.4%.

Saudi Arabia's neurology clinical trials business is expanding gradually. In recent years, the government has achieved great progress in terms of infrastructure development as well as the establishment of legislation and norms to facilitate clinical research. This has contributed to the creation of a suitable atmosphere in the nation for the conduct of neurology clinical trials. The government also has the Saudi Clinical Trials Network (SNCT) which intends to improve the quality and number of clinical trials done in Saudi Arabia.

Saudi Arabia Neurology Clinical Trials Market

Market Dynamics

Market Growth Drivers

Saudi Clinical Trials Network (SNCT) The SNCT intends to improve the quality and number of clinical trials done in Saudi Arabia via two major projects: one geared at developing the kingdom's legal and regulatory framework to reduce bureaucracy, and the other at training and retaining the requisite personnel. The SNCT emphasises recruiting and retaining clinical trial talent inside the kingdom via a training programme and by bringing in foreign specialists to teach present and future Saudi clinical research workers.

The Saudi Food and Drug Authority (SFDA) has created clinical trial standards and procedures, which have aided in the expansion of clinical research in the kingdom. The high frequency of neurological illnesses in Saudi Arabia offers a huge population pool for clinical studies. The Saudi government has made significant investments in healthcare infrastructure, allowing for the construction of cutting-edge medical facilities and the recruitment of top healthcare specialists. Pharmaceutical firms are increasingly interested in conducting clinical trials in Saudi Arabia, which has encouraged the clinical trials market's growth. All of the mentioned factors contribute to the growth of the market in Saudi Arabia.

Market Restraints

Cultural and religious barriers may make it difficult to enrol people for clinical trials, especially those involving invasive procedures or novel therapies. Patients may be unaware of clinical studies or their potential advantages, making it difficult to attract participants. Researchers may have restricted access to financing for clinical studies, which may hinder market expansion. Moreover, A scarcity of trained employees in some sectors, such as data management and clinical trial coordination, might hinder market development.

Competitive Landscape

Key Players

  • Pfizer Inc.
  • Novartis AG
  • Sanofi
  • King Faisal Specialist Hospital and Research Centre (SAU)
  • National Neuroscience Institute (SAU)
  • Riyadh Military Hospital (SAU)
  • Tabuk Pharmaceuticals (SAU)
  • SPIMACO (SAU)
  • Jamjoom Pharmaceuticals (SAU)
  • Al-Jazeera Pharmaceutical Industries (SAU)

Notable Deals

October 2022, Zhittya Genesis Medical, Inc. (a private firm) ("Zhittya") offered an educational luncheon session regarding its medical findings for the treatment of Parkinson's disease in Jeddah, Saudi Arabia.

1. Report Description of the Saudi Arabia 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. Saudi Arabia Neurology Clinical Trials Market Executive Summary
2.1 Saudi Arabia Neurology Clinical Trials Market –Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings

3. Market Dynamics of Saudi Arabia Neurology Clinical Trials Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis

4. Saudi Arabia 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
4.2.1 Epilepsy
4.2.2 Parkinson's Disease (PD)
4.2.3 Huntington's Disease 
4.2.4 Stroke
4.2.5 Traumatic Brain Injury (TBI)
4.2.6 Amyotrophic Lateral Sclerosis (ALS)
4.2.7 Muscle regeneration
4.2.4 Others

4.3 By Indication Outlook  
4.3.1 Interventional
4.3.2 Observational
4.3.3 Expanded Access

5. Saudi Arabia 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
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives

7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives

7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives

7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives

7.5 Company 5
7.5.1 Overview
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 Saudi Arabia
8.2 Regulatory Framework in Saudi Arabia
8.3 Pricing & Reimbursement Scenario in Saudi Arabia Neurology Clinical Trials Market

9. Factors Driving Future Growth
9.1 New Trends and Development Saudi Arabia Neurology Clinical Trials Market
9.2 Future Opportunities

10. Strategic Recommendations

Neurology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

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

By Study Design Outlook (Revenue, USD Billion):

  • Epilepsy
  • Parkinson's Disease (PD)
  • Huntington's Disease
  • Stroke
  • Traumatic Brain Injury (TBI)
  • Amyotrophic Lateral Sclerosis (ALS)
  • Muscle regeneration
  • Others

By Indication Outlook (Revenue, USD Billion):

  • Interventional
  • Observational
  • Expanded Access

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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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.

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Last updated on: 14 March 2023

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