The Spain Neurology Clinical Trials market is projected to grow from $100.9 Mn in 2022 to $143.5 Mn by 2030, registering a CAGR of 4.5% during the forecast period of 2022 - 2030. The market will be driven by well-established infrastructure, skilled researchers, and access to a big patient population. The market is segmented by phase, by study design & by indication. Some of the major players include Pfizer Inc, Grifols, S.A. & Almirall, S.A.
The Spain Neurology Clinical Trials market is projected to grow from $100.9 Mn in 2022 to $143.5 Mn by 2030, registering a CAGR of 4.5% during the forecast period of 2022 - 2030. The public healthcare system in Spain is mainly of excellent quality, with well-trained medical personnel. Spain has a well-developed hospital and medical centre network, including some of the most prestigious around the globe. The pharmaceutical business is one of the important contributors to the Spanish economy. The industry earned more than $ 27.7 billion in sales by 2021. In terms of revenue, Spain has the fourth-largest pharmaceutical marketplace in Europe and the eighth-largest market globally. In Spain, over 400,000 people suffer from epilepsy. About 5-10% of the population are likely to experience a seizure at some point in their lives, with up to 20% having repeated seizures. According to hospital discharge report statistics, hospitalisations for epilepsy were about 35 per 100,000 patients.
One out of every three clinical trials conducted in Europe already includes Spanish participants. Spain accounted for 4.1% of worldwide Clinical Trials output in 2021. Moreover, Spain dramatically expanded the number of Participants in the last year, reaching roughly 145 000 Patients in over 3 400 Clinical Studies. According to clinicaltrials.gov, there were 1,020 active or finished clinical studies linked to neurology in Spain as of September 2021. These studies include Alzheimer's disease, multiple sclerosis, Parkinson's disease, epilepsy, and stroke, among other neurological illnesses. The Spanish Agency for Medicines and Health Products (AEMPS) is the regulatory organization in charge of clinical trial authorisation and oversight in Spain.
Several of these clinical trials are being carried out in partnership with prestigious Spanish medical institutes and universities, like the Hospital Clinic of Barcelona, the Hospital Universitario Ramón y Cajal in Madrid, and the Hospital Universitario de La Princesa in Madrid. Overall, owing to its well-established infrastructure, skilled researchers, and access to a big patient population, Spain is an appealing destination for conducting neurology clinical trials.
Market Growth Drivers
The Spanish Ministry of Health, Consumption, and Social Welfare approved a five-year National Alzheimer's Plan, which will be fulfilled in 2023. The plan covers important objectives for increasing dementia awareness, personalized medical and social care services, assistance, and rewards, and the development of research, innovation, and knowledge. These kinds of activities are anticipated to raise awareness about neurological illnesses and support more clinical trials. In Spain, neurological illnesses such as Alzheimer's, Parkinson's, epilepsy, and multiple sclerosis are on the increase. As a result, the number of people seeking therapy has increased. Since Spain offers a favourable regulatory environment for conducting clinical trials, several pharmaceutical firms have chosen to perform their clinical studies there. Many changes have been made by Spanish regulatory authorities to ease the procedure for carrying out clinical studies, making it simpler for corporations to receive regulatory permission. In recent years, the Spanish government has increased research funding, including funds for neurology research, encouraging collaboration between the local medical system and the pharmaceutical industry, which has spurred the rise of neurology clinical trials in the nation.
Despite increased research funding, there is still a limited amount of funds available for clinical trials in Spain. As a result, several businesses have found it difficult to perform clinical trials in the nation, slowing the expansion of neurology clinical trials.
In Spain, acquiring subjects for clinical trials might be difficult. Patients may be reluctant to participate in clinical trials, this may make it difficult to recruit enough people to finish clinical studies, which can be a barrier to expansion. While the regulatory climate in Spain is generally supportive of clinical trials, there are several regulatory stumbling blocks that might impede the process. Getting regulatory permission may be a time-consuming and difficult procedure, which might cause clinical studies to be delayed. Several nations with advantageous regulatory regimes and well-developed research infrastructures compete with Spain. Businesses may decide to perform clinical trials in these countries, limiting the expansion of neurology clinical trials in Spain.
February 2023, ZeClinics, a zebrafish-based research firm, will be able to use Almirall's cutting-edge technological facilities to speed drug development by conducting high-throughput safety and effectiveness testing.
1. Report Description of the Spain 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. Spain Neurology Clinical Trials Market Executive Summary
2.1 Spain Neurology Clinical Trials Market –Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Spain Neurology Clinical Trials Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Spain 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. Spain 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 Spain
8.2 Regulatory Framework in Spain
8.3 Pricing & Reimbursement Scenario in Spain Neurology Clinical Trials Market
9. Factors Driving Future Growth
9.1 New Trends and Development Spain 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):
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