US Neurology Clinical Trials Market Analysis

US Neurology Clinical Trials Market Analysis


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The US neurology clinical trials market is projected to grow from $2.20 Bn in 2022 to $2.89 Bn by 2030, registering a CAGR of 3.5% during the forecast period of 2022-30. The prevalence of neurological disorders in the US is on the rise, with an aging population and changing lifestyles being significant contributors. As a result, there is a growing need for effective treatments and therapies to manage and treat these conditions, leading to an increase in neurology clinical trials. The US neurology clinical trials market is expected to grow significantly in the coming years, driven by an increasing prevalence of neurological disorders, a growing aging population, and advancements in technology and treatments.

ID: IN10USCT005 CATEGORY: Clinical Trials GEOGRAPHY: US AUTHOR: Shivam Zalke

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US Neurology Clinical Trials Market Executive Summary

Throughout the projection period of 2022 to 2030, the US neurology clinical trials market is anticipated to expand from $2.20 Bn in 2022 to $2.89 Bn, recording a CAGR of 3.5%.

The US neurology clinical trials market is a quickly expanding sector that includes a broad spectrum of treatment areas and indications. New medicines and treatments for patients with neurological disorders like epilepsy, Parkinson's disease, multiple sclerosis, Alzheimer's disease, and others are the main focus of neurology clinical trials.

The US neurology clinical trials market is anticipated to expand rapidly over the next several years as a result of rising rates of neurological illnesses, an aging population, and technological and therapeutic advances.

Clinical trials are frequently carried out by university medical institutes, hospitals, and research institutions in the US. The National Institutes of Health (NIH) also makes a significant contribution to clinical neurology research by financing several studies across the nation. Today, Alzheimer's disease, Parkinson's disease, multiple sclerosis, and epilepsy are the most common conditions requiring neurology clinical trials in the US. Stroke, neuropathic pain, and migraine headaches are among the other research topics.

With so many top pharmaceutical and biotech companies engaging in research and development in this field, the US market for neurology clinical trials is extremely competitive. In this market, some of the major players include Biogen, Novartis, Pfizer, and Roche.

Overall, the market for US neurology clinical trials is anticipated to expand significantly over the coming years due to the rising incidence of neurological disorders and the ongoing research and development of novel therapeutics.

us neurology clinical trials market

Market Dynamics

Market Growth Drivers

There are a number of factors that influence the US neurology clinical trials market, including:

  1. Rising incidence of neurological disorders: Aging populations and changing lifestyles are major contributors to the growth in the frequency of neurological disorders in the US. As a result, there is an increasing demand for efficient medicines and treatments to control and treat these illnesses, which is driving up the number of clinical trials in neurology.
  2. Technological and medical advancements: The development of novel therapies and treatments for neurological illnesses has been made possible by quick improvements in technology and medical treatments. These developments have also made it feasible to carry out clinical studies more successfully and efficiently, hastening the development of new drugs.
  3. Government funding: Through the National Institutes of Health (NIH) and other organizations, the US government provides a considerable amount of funding for neurology clinical trials, fostering research initiatives and enticing pharmaceutical and biotech firms to make investments in the field.
  4. Industry investment: Driven by the potential for huge financial gains from the discovery of effective cures and treatments, pharmaceutical and biotech corporations are heavily investing in neurology research.
  5. Demand from patients: There is a high demand for clinical trials that provide access to cutting-edge treatments and therapies because patients with neurological illnesses are actively looking for novel ways to manage their conditions.

Overall, a number of reasons, such as a rising desire for efficient cures and treatments, improvements in technology and treatments, government financing, industry investment, and patient demand, are propelling the US neurology clinical trials market.

Competitive Landscape

Key Players

The US neurology clinical trials market has a number of significant participants, including:

  • Businesses that produce drugs and biotechnology: In the US neurology clinical trials market, significant participants include Pfizer, Roche, and Novartis, large pharmaceutical and biotech firms. These businesses make significant investments in R&D, and they have the assets and know-how required to carry out extensive clinical trials.
  • Companies that Conduct Contract Research (CROs): CROs are businesses that help pharmaceutical and biotech firms with services for clinical trials. These services may include regulatory support, data management, patient recruitment, and study design. IQVIA, PPD, and Covance are a few of the important CROs operating in the US neurology clinical trials market.
  • Universities and research facilities: Universities and hospitals are key participants in the US Neurology Clinical Trials Market as are academic and research institutes. These organizations carry out research and work with biotech and pharmaceutical firms to carry out clinical trials.
  • Government Organizations: The US Neurology Clinical Trials Industry is significantly influenced by governmental organizations like the Food and Drug Administration (FDA) and the National Institutes of Health (NIH). The FDA oversees and authorizes pharmaceuticals and medical devices, while the NIH funds research and clinical trials.
  • Patient advocacy organizations: Patient advocacy organizations are becoming more and more involved in the US neurology clinical trials market, including the Alzheimer's Association and the Parkinson's Foundation. These organizations promote patient involvement in clinical trials and speak up for the concerns and interests of patients with neurological illnesses.

Overall, a large number of players, including pharmaceutical and biotech firms, CROs, academic and research institutions, governmental organizations, and patient advocacy groups, support the US neurology clinical trials market. Together, these participants create and evaluate novel therapies and treatments for neurological illnesses.

Healthcare Policies and Regulatory Landscape

In the US neurology clinical trials market, healthcare laws and regulations are very important. Among the most important laws and rules are:

  1. Laws set out by the Food and Drug Administration (FDA) Clinical trials in neurology use a variety of medical devices, all of which are subject to FDA regulation regarding their development and approval. The FDA examines and approves clinical trial protocols and offers advice on study conception and execution.
  2. IRBs (Institutional Review Boards): IRBs are committees that examine and approve the protocols for clinical trials to make sure they are morally righteous and safeguard the rights and welfare of study participants. All clinical studies involving human beings must be supervised by IRBs, which are mandated by law.
  3. Clinical Good Practice (GCP): GCP is a collection of global ethical and scientific best practices for planning, carrying out, documenting, and reporting clinical trials involving human participants. Regulatory agencies follow GCP guidelines, which are a crucial component of the clinical trial regulatory environment.
  4. Medicare: Medicare is a federal program that offers health insurance to those who are 65 or older and/or have certain disabilities. The execution and funding of neurology clinical trials may be impacted by Medicare policies and regulations.
  5. NIH (National Institutes of Health) Guidelines: The NIH funds clinical trials and research, and it has guidelines and rules that control how research is carried out. The planning and execution of clinical trials in neurology may be impacted by these regulations.

Generally speaking, healthcare laws and regulations play a significant role in the US neurology clinical trials market. These rules and policies support the development of novel treatments and therapies in a methodical and scientific way as well as the safe and ethical conduct of clinical trials.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

US 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.

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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.

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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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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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The US Neurology Clinical Trials Market is projected to grow from $2.20 Bn in 2022 to $2.89 Mn by 2030, registering a CAGR of 3.5% during the forecast period of 2022 - 2030.

The US neurology clinical trials market has a number of significant participants, including:

  • Businesses that produce drugs and biotechnology: In the US neurology clinical trials market, significant participants include Pfizer, Roche, and Novartis, large pharmaceutical and biotech firms. These businesses make significant investments in R&D, and they have the assets and know-how required to carry out extensive clinical trials.
  • Companies that conduct contract research (CROs): CROs are businesses that help pharmaceutical and biotech firms with services for clinical trials. These services may include regulatory support, data management, patient recruitment, and study design. IQVIA, PPD, and Covance are a few of the important CROs operating in the US neurology clinical trials market.
  • Universities and research facilities: Universities and hospitals are key participants in the US Neurology Clinical Trials Market as are academic and research institutes. These organisations carry out research and work with biotech and pharmaceutical firms to carry out clinical trials.
  • government organisations The US Neurology Clinical Trials Industry is significantly influenced by governmental organisations like the Food and Drug Administration (FDA) and the National Institutes of Health (NIH). The FDA oversees and authorises pharmaceuticals and medical devices, while the NIH funds research and clinical trials.
  • Patient advocacy organisations: Patient advocacy organisations are become more and more involved in the US neurology clinical trials market, including the Alzheimer's Association and the Parkinson's Foundation. These organisations promote patient involvement in clinical trials and speak up for the concerns and interests of patients with neurological illnesses.

Overall, a large number of players, including pharmaceutical and biotech firms, CROs, academic and research institutions, governmental organisations, and patient advocacy groups, support the US neurology clinical trials market. Together, these participants create and evaluate novel therapies and treatments for neurological illnesses.


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Last updated on: 27 September 2023
Updated by: Vidhi Upadhyay

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