The global neurology clinical trials market size was estimated at USD 4.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. This is largely attributed to increasing neurological diseases, such as dementia, stroke, and peripheral neuropathy, and growing R&D investments towards neurological research. However, Covid-19 is an unprecedented event that has impacted practically every part of businesses throughout the world while the pharma industry is being tapped to help bring out an effective treatment against the pandemic at the earliest. Trial enrolment, data collecting, and data analysis were all disrupted, causing delays in ongoing clinical trials.
In contrast to the 1990s and early 2000s, drug makers now have better tools for manipulating and correcting genes. As a result, disorders caused by single genetic mutations, such as spinal muscular atrophy, appear to be easier to target and less risky attributes that might appeal to large corporations contemplating a return to neuroscience. For instance, Pfizer has entered the Duchenne muscular dystrophy through its acquisition of Bamboo Therapeutics, while Roche has shown interest in an Ion is Pharmaceuticals Huntington’s disease program.
Key Player Mentioned:
- Novartis
- Covance
- Medpace
- Charles River Laboratories
- Syneous Health
- Icon Plc
- GlaxoSmithKline
- Aurora healthcare
- Biogen
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Product Segment Analysis:
- Epilepsy
- Parkinson’s Disease (PD)
- Huntington’s Disease
- Stroke
- Traumatic Brain Injury (TBI)
- Amyotrophic Lateral Sclerosis (ALS)
- Muscle regeneration
Besides, technological innovations may improve the efficiency as well as productivity of neurology clinical trials through the use of increased patient engagement, reduced patient burden long with the use of novel outcomes. New technologies such as virtual clinical trials, remote monitoring, wearable devices may fulfill the goal of making clinical trials more patient-focused.
In contrast to the 1990s and early 2000s, drug makers now have better tools for manipulating and correcting genes. As a result, disorders caused by single genetic mutations, such as spinal muscular atrophy, appear to be easier to target and less risky attributes that might appeal to large corporations contemplating a return to neuroscience. For instance, Pfizer has entered the Duchenne muscular dystrophy through its acquisition of Bamboo Therapeutics, while Roche has shown interest in an Ion is Pharmaceuticals Huntington’s disease program.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa
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Market participants are implementing a range of strategic initiatives, such as new partnership agreements, collaborations, mergers and acquisitions, and geographic expansions, with the aim of strengthening their services and gaining a competitive edge.
For instance, in January 2021, Sosei, based in Japan, and Pharm Enable, based in the U.K., partnered to develop new drugs for a G protein-coupled receptor (GPCR) target linked to a number of neurological disorders. They used artificial intelligence-enabled technology and advanced chemistry to research neurological disease treatment.
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