Market Snapshot The Global Neurology Clinical Trials Market is expected to secure USD 5.9 Bn, recording a CAGR of 3.2% during the forecast period. The growth of the market can be attributed to the growing incidences of neurological diseases such as; dementia, stroke, and peripheral neuropathy. The surging R&D investments in neurological research is another salient cause driving the market. Also, the established pharma companies are conducting innovative trials in neurology, with rising government funding from the National Institute of Neurological Disorders and Stroke (NINDS) are other vital pillars of market expansion in the forecast period. On the contrary, restricted comprehension of the elemental biology of the ailment is expected to act as a significant factor hindering the market expansion in the forecast period. Get Sample PDF Copy: https://www.researchinformatic.com/sample-request/231
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Market Segmentation Based on phase, phase III is expected to expand at the highest CAGR during the forecast period. Expansion of the segment can be attributed to its expensive nature and large patient pool. The median cost of phase III central nervous system clinical trial is USD 19 Bn. A total number of 12, 089 CNS trials were conducted from 1999 to 2020, with 629 trials being conducted in 2020. Based on the study design, the observational segment is expected to expand at the highest CAGR during the forecast period. In situations such as post-marketing safety evaluations of drugs or when clinical trials are not feasible, observational studies are used to understand treatment impact. On the other hand, the interventional segment is anticipated to procure significant market value in the assessment period. It is one of the most prevalent methods for conducting a clinical experiment, which is projected to drive segmental growth in the forecast period. Get a Full Report Summary with 250 Pages, Research Scope and TOC. Click here: https://www.researchinformatic.com/reports/neurology-clinical-trials-market-231 Regional Analysis As per the observations, North America is expected to dominate the market during the forecast period. The region secured the largest revenue share of 45% in 2020. The dominant position of the region can be attributed to the increasing prevalence of neurological disorders and the presence of established players. As per an analysis, an estimated 8.4 million Americans aged 65 and older would suffer from Alzheimer’s disease or dementia by 2030. This is likely to augment the market in North America significantly. APAC is anticipated to be the fastest-growing market during the forecast period. The growth of the region can be attributed to the presence of rapidly developing countries such as; India, China, Japan, and South Korea. Further, initiatives taken by the government are anticipated to augment the market in the region. Also, APAC has been identified as one of the most preferred destinations for clinical trials, thereby, expanding the market size during the forecast period.