Australia Neurology Clinical Trials Market Analysis

Australia Neurology Clinical Trials Market Executive Summary

The Australia Neurology Clinical Trials market is projected to grow from $62.8 Mn in 2022 to $107.8 Mn by 2030, registering a CAGR of 7% during the forecast period of 2022 - 2030. Sydney, NSW, Melbourne, VIC, Brisbane, QLD, Perth, WA, and Adelaide, SA were considered the top five healthiest cities in Australia in 2021. According to the Australian Bureau of Statistics, the percentage of the population aged 65 and above has climbed from 12.3% to 15.9% in the last two decades. The growing senior population is at high risk of acquiring neurological ailments such as Alzheimer's disease, Parkinson's disease, and others. According to the 'Dementia in Australia' 2022 report, there will be 487,500 Australians living with dementia in 2022. Without a medical breakthrough, the number of dementia patients is anticipated to rise to about 1.1 million by 2058.

Clinical research in Australia is well-established and growing, notably in the area of neurology. The nation offers a robust regulatory framework and a well-developed infrastructure to support clinical trials, making it an appealing site for clinical trials for both global pharmaceutical corporations and local biotech startups. There are a number of active neurology clinical trials in Australia, including trials looking at potential therapies for Alzheimer's disease, Parkinson's disease, multiple sclerosis, and epilepsy, among other disorders.

Novartis, Biogen, Roche, Eli Lilly, and Pfizer are among the leading pharmaceutical firms performing neurology clinical studies in Australia. These firms are focusing on creating novel medicines for a variety of neurological disorders, and they are conducting clinical studies in collaboration with local research groups and hospitals. Moreover, a number of Australian biotech firms are operating in the neurology field, including Prana Biotechnology, which is investigating a therapy for Huntington's disease, and Cogstate, which is focused on producing cognitive evaluation tools for clinical trials.

Market Dynamics

Market Growth Drivers

Some of the world's foremost researchers, doctors, and healthcare professionals are based in Australia. It has world-class medical research and healthcare facilities, a stable socioeconomic climate, a diversified ethnic population, and a robust intellectual property system. An efficient regulatory structure, including a swift clinical trial approval process, well-established clinical trial infrastructure, skilled and well-qualified professionals, and internationally competitive government subsidies for R&D investment all contribute to Australia's position as a leading destination for clinical trials. Pharmaceutical, biotechnology, and medical device businesses start about 1000 new clinical studies in Australia each year.

Market Restraints

There are various factors influencing the neurology clinical trials industry in Australia. One of the most significant problems is the relatively small population size, which might restrict the number of individuals who are eligible for clinical studies. This is especially true for uncommon neurological disorders, where locating qualified individuals might be difficult. The high expense of conducting clinical trials in Australia is another barrier. Because of the country's high cost of living and highly qualified workforce, clinical trials may be more costly than in other nations. This may be an impediment to admission for smaller biotech firms that lack the capacity to undertake research in the nation.

Competitive Landscape

Global Key Players

• Novartis AG
• Biogen Inc.
• Roche Holding AG
• Pfizer Inc.
• Eli Lilly and Company
• Sanofi S.A
• Johnson & Johnson
• Merck & Co., Inc.
• AbbVie Inc.
• AstraZeneca plc

Local Key Players

• NeuClone Pharmaceuticals (AUS) - NeuClone is a clinical-stage biopharmaceutical firm dedicated only to the development and commercialization of high-quality biosimilar pharmaceuticals
• Prana Biotechnology Limited (AUS) - Focussed on first-in-class therapies to treat neurodegenerative disease
• Cogstate (AUS) - Cogstate is a firm that develops neuroscience technologies. Clinical and academic research, healthcare, biopharmaceuticals, computerised cognitive testing, central monitoring, scientific consultation, and other services
• Neuroscience Trials Australia (AUS) - is one of the world's few CROs that specialises in CNS projects. Epilepsy, stroke and stroke-related conditions, multiple sclerosis, Alzheimer's disease/ cognitive disease studies, Motor Neurone Disease/ALS, mental health and associated conditions, Parkinson's disease, spinal cord injuries, Huntington's disease, neurosurgery, pain, neuromuscular disease, and migraine companies are among the therapeutic areas of expertise
• NeuRA (AUS) - A non-profit, independent medical research centre devoted to improving the lives of those suffering from brain and nervous system illnesses

Notable Insights

September 2022, The Neurosciences Clinical Research Suite (NCRS) at the University of Queensland’s Centre for Clinical Research (UQCCR), will be a go-to location for scientists, physicians, and health professionals to engage directly with clinical trial patients to help develop innovative therapies for brain illnesses.

August 2022, In collaboration with South Australia's Medical and Health Institute (SAHMRI), the Hospital Research Foundation is contributing $300,000 to the new project. The new South Australian research aims to detect Parkinson's disease sooner by measuring dopamine levels in the brain.