Neurology Contract Research Organization Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global neurology contract research organization market reached a revenue of US$ 7.9 billion in 2024 and is poised for significant expansion, to attain US$ 13.8 billion by 2031.
Rapid Growth Attributed to Increasing Adoption of Outsourcing
The rapid expansion of neurology contract research organizations can be attributed to the substantial adoption of outsourcing by pharmaceutical and biotechnology companies. Outsourcing clinical development of drugs and medical devices has proven efficient and cost-effective, leading to increased R&D productivity. Factors such as the pursuit of improved return on investment, alignment with scientific advancements, and compliance with strict government regulations have driven this trend.
The rising prevalence of neurological disorders has resulted in a surge in pharmacological therapies, reflected in the significant development of neurological drugs. This growth is underscored by the development of numerous pharmaceuticals across various therapeutic areas, including neurology.
Challenges in the Availability of Skilled Professionals
However, neurology CROs face a challenge in acquiring highly skilled professionals. Competing with pharmaceutical companies, biopharmaceutical companies, medical device companies, and academic and research organizations for skilled experts, particularly neuroscientists, poses a potential limitation to the growth of the global neurology CRO market.
Country-wise Insights
U.S. Neurology CRO Market Booms
The United States accounts for a substantial share of the North American neurology CRO market in 2023. The country's market is thriving due to the rising prevalence of neurological disorders, particularly Alzheimer's disease, and the lack of effective diagnosis methods. The presence of leading CROs in the U.S., including Laboratory Corporation of America Holdings, IQVIA Inc., Parexel International Corporation, and Charles River Laboratories, has further bolstered the market.
Lucrative Opportunities in the U.K.
In the United Kingdom, major pharmaceutical and biotech companies have increasingly outsourced drug discovery and development activities, including neurology. This trend, driven by the complex drug lifecycle and pricing pressure from government bodies, is favorable for neurology CROs. The U.K. also witnesses an uptick in mergers, acquisitions, and private equity investments, which are expected to positively influence the neurology contract research organization market.
China Emerges as a Prominent Market
China captured the largest market share of the global neurology CRO market in 2021. CROs in China offer cost-effective clinical development services, attracting pharmaceutical companies like GSK and Novartis, which have closed their R&D centers in the country to focus on outsourcing R&D activities. The increasing revenue of CROs in China, including Pharmaron Beijing Co., Ltd., highlights the significant growth of the neurology research organization market in the nation.
Competitive Analysis
Key players in the neurology CRO market are strategically enhancing their global presence through collaborations, expansions, mergers, and acquisitions. These actions are driving advancements in the neurology contract research organization industry.
Key Companies Profiled
• Charles River Laboratories
• Laboratory Corporation of America Holdings
• IQVIA Inc.
• Syneos Health
• Parexel International Corporation
• ICON Plc.
• Medpace
• Axon CRO
• Thermo Fisher Scientific Inc. (PPD Inc.)
• CTI Clinical Trial & Consulting
• Pharmaron Beijing Co., Ltd.
• Neuroservices-Alliance
• QPS Neuropharmacology
• MD Biosciences
• Atlantic Research Group, Inc.
• EphyX Neuroscience
• Ergomed plc
• Neuron Experts
Segmentation of Neurology Contract Research Organization Industry Research
Neurology Contract Research Organization Market by Service:
• Clinical Services
Early Phase/Phase I Development
Phase IIB-III Clinical Trials
Phase IIIB-Phase IV Clinical Trials
510(k) Clinical Studies
IDE Clinical Studies
IND Clinical Studies
PMA Clinical Studies
De Novo Clinical Studies
Retrospective Clinical Studies
• Data Management Services
Clinical Database Selection
Clinical Study Planning and Clinical Protocol Development
Clinical Site Budget Development
Data Management (DM) and Biostatistics (BS)
• Drug Safety
• Medical and Scientific Writing
• Regulatory Affairs
• Pharmacology and Toxicology
• Quality and Compliance
Neurology Contract Research Organization Market by Study:
• Neuroscience focused
• Neurology focused
Neurology Contract Research Organization Market by Indication:
• Alzheimer's Disease
• Brain Tumors
• Epilepsy & Seizures
• Headaches
• Schizophrenia
• Depressive Disorder
• Multiple Sclerosis (MS)
• Muscular Dystrophy
• Parkinson's Disease
• Progressive Muscular Atrophy (PMA)
• Stroke
• Psychiatry
• Autism Spectrum Disorder
• Cerebral Adrenoleukodystrophy (CALD)
• Sleep Apnea/ Sleep Dysfunction
Neurology Contract Research Organization Market by End User:
• Pharmaceutical & Biopharmaceutical Companies
• Biopharmaceutical Companies
• Medical Device Companies
• Academic and Research Institutes
Neurology Contract Research Organization Market by Region:
• North America Neurology Contract Research Organization Market
• Latin America Neurology Contract Research Organization Market
• Europe Neurology Contract Research Organization Market
• South Asia Neurology Contract Research Organization Market
• East Asia Neurology Contract Research Organization Market
• Oceania Neurology Contract Research Organization Market
• Middle East and Africa Neurology Contract Research Organization Market
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