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Clinical Trial Technology

Incorporating technology to improve efficiency and success rate of clinical trials

Overview

The clinical trials stage is the longest step in the drug development process. Its success rate is estimated to be between 10% and 20%, depending on the therapeutic areas being considered. AI and telemedicine are being incorporated into clinical trials and are enabling virtual trials that are significantly cheaper to operate than traditional ones. Additionally, the automation of workflow processes and regulatory documentation requirements are reducing the operational costs of running a clinical trial. 

Technology has the potential to improve the success rates of clinical trials through data-driven feasibility studies and the crowdsourcing of clinical trial protocols, helping improve clinical trial designs and tackle the lack of commercial interest. As the pharmaceutical industry grapples with the pressure the drug development process puts on financial returns, clinical trial tech provides an avenue to expand returns by reducing the time and effort required to bring new drugs to market. 

What's driving this industry?
Market Sizing

The global clinical trial technology market could reach USD 10.8 billion to USD 13.9 billion by 2026

Conservative case

USD 10.8 Bn

Base case

USD 12.3 Bn

Expansion case

USD 13.9 Bn

USD billion02.557.51012.515202120222023202420252026
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Market Mapping


Growth-stage clinical trial management startups and incumbents most prominent

Startups in the growth-stage and providing clinical trial management solutions are most common, with several startups initially offering one specific solution before expanding into offering solutions across multiple parts of the clinical trial process.

Incumbents also focus on the clinical trial management segment in terms of partnerships and acquisitions, as these tend to have the most value in terms of improving the speed and cost of their own clinical trials.

Incumbents
Growth
Early
Seed
Pre-Seed
Clinical Trial Management
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Virtual Trials
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Patient Recruitment
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Drug And Supply Logistics
?
Site Selection And Setup
?
Patient And Outcome Data Management
?
Protocol Design And Review
?
ClinicalResearch
ClinicalResearch
ClinicalResearch
ClinicalResearch
ClinicalResearch
ClinicalResearch
ClinicalResearch
Pfizer
Roche
Sanofi
GlaxoSmithKline
AstraZeneca
Novartis
Bristol-Myers Squibb
Google
Medable
Huma
Elligo Health Research
Florence Healthcare
Castor
ClinicalResearch IO
Longboat
Signant Health
Thread
Curebase
ObvioHealth
uMotif
ClinOne
SimpleTrials
EmpiraMed
ClinPal
Reify Health
Owkin
Clinical Connection
SubjectWell
Clara Health
Deep 6 AI
Inato
StudyKIK
FindMeCure
Amazon
4G Clinical
Endpoint Clinical
Cenduit
Slope.io
TrialSpark
Teckro
Trifecta Clinical
SureConsent
Oracle
Microsoft
IBM
Saama Technologies
AiCure
Mendel.ai
VivoSense
Hawthorne Effect
TriNetX
ProofPilot
Trials.ai

The Disruptors


Disruptors partner with big pharma companies and clinical research organizations to provide services and technology

Clinical trial technology disruptors operate in partnership with their customers, which include big pharma and clinical research organizations that run and execute clinical trials. Whilst these customers have developed some technology solutions internally, they are always open for externally developed solutions that can provide efficiencies in terms of cost or time.

Clinical Trial Management

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Disruptors

?
Funding in USD Millions
Medable
507
Huma
217
Elligo Health Research
171
Florence Healthcare
116
Castor
64
Curebase
58
ObvioHealth
47
uMotif
36
ClinicalResearch IO
17
ClinOne
5
Longboat
Unknown
SimpleTrials
Unknown
Signant Health
Unknown
Thread
Unknown

Virtual Trials

?

Disruptors

?
Funding in USD Millions
ClinPal
3
EmpiraMed
Unknown

Patient Recruitment

?

Disruptors

?
Funding in USD Millions
Reify Health
480
Owkin
304
SubjectWell
47
Clara Health
21
Deep 6 AI
17
Inato
16
FindMeCure
0
StudyKIK
Unknown
Clinical Connection
Unknown

Drug And Supply Logistics

?

Disruptors

?
Funding in USD Millions
4G Clinical
252
Slope.io
23
Endpoint Clinical
2
Cenduit
Unknown

Site Selection And Setup

?

Disruptors

?
Funding in USD Millions
TrialSpark
156
Teckro
66
SureConsent
Unknown
Trifecta Clinical
Unknown

Patient And Outcome Data Management

?

Disruptors

?
Funding in USD Millions
Saama Technologies
76
Mendel.ai
65
AiCure
53
VivoSense
25
Hawthorne Effect
23

Protocol Design And Review

?

Disruptors

?
Funding in USD Millions
TriNetX
43
ProofPilot
16
Trials.ai
1

Medable

Based in California and founded in 2015, Medable is a digital clinical trial management platform with a range of modules for different processes. These modules include a decentralized clinical trial platform to support decentralized trials using remote tools for data gathering, monitoring, televisits, and consent; digital patient screening to screen patients remotely and at scale; e-consent to enable patients to digitally consent for clinical trials; electronic clinical outcome assessments; and patient-reported outcomes to document data in real time and provide easy access for researchers. It also includes remote patient monitoring to make it easy for patients to record and share data with clinical research teams.

Medable operates on a SaaS business model, with customers having the option of selecting and deploying only the modules required as part of their uniquely customized solution.

As of September 2022, the company expanded to provide services to over 300 clinical trials based in more than 60 countries and in 26 languages. The company’s platform is compliant with industry standards, including HIPAA, FDA’s 21 CFR Part 11, and GDPR.

Key customers and partnerships

As of May 2022, Medable works with a range of partners, including Cognizant, Accenture, Oracle, and PwC. 

In February 2022, the company announced a Medable Partner Network, which brought together a range of partners across different types. This included direct-to-patient, service, data, technology, and site partners. The objective of this partnership network is to speed up the innovation process and deployment of the platform at clinical sites, creating value for Medable’s customers.

In September 2022, the company announced a four year agreement with GlaxoSmithKline to use Medable’s platform for clinical trials across multiple products. Financial terms of the agreement were not disclosed.

Funding and financials

Medable raised USD 304 million in November 2021 at a USD 2.1 billion valuation co-led by Blackstone Growth and Tiger Global. The proceeds were to be used for the development of decentralized clinical trial technologies including telemedicine and remote monitoring as well as for the expansion of global operations.

Segment:
Clinical Trial Management
Total funding:
USD 506.6 million
Disruptor Funding History

Clinical Trial Management:

Medable
Huma
Elligo Health Research
Florence Healthcare
Castor
Curebase
ObvioHealth
uMotif
ClinicalResearch IO
ClinOne

Virtual Trials:

ClinPal

Patient Recruitment:

Reify Health
Owkin
SubjectWell
Clara Health
Deep 6 AI
Inato
FindMeCure

Competitive Analysis


Filter by a segment or companies of your choice
Clinical Trial Management

Incumbents


Pharmaceutical companies and clinical research organizations are increasingly adopting clinical trial technology to expedite the drug development process. Being the longest stage in drug development, any reduction in the time required for clinical trials would result in a significant benefit.

Additionally, multiple tech companies have expressed interest and are working in the clinical trial tech space due to the significant volume of data that needs to be processed and the potential for providing cloud services and conducting big data analytics.

While some tech companies conduct in-house development, incumbents prefer to operate through partnerships with relevant startups, which can specialize in addressing challenges in the clinical trial process.

In-house development

Partnerships

Investments/acquisitions

Pfizer
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Roche
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Sanofi
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GlaxoSmithKline
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AstraZeneca
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Novartis
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Bristol-Myers Squibb
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Oracle
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Amazon
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Google
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Microsoft
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IBM
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Pfizer

Pfizer is a leading pharmaceutical company in the drug development space and collaborates with a range of partners in the clinical trial tech space.

The company partnered with Saama Technologies in 2020 to incorporate AI tech into the clinical trial stage for Pfizer’s Covid-19 vaccine. Specifically, Saama’s AI was used to clean up trial data before analysis, saving several weeks compared to traditional methods.

The company also operates an incubation team called Breakthrough Change Accelerator, which manages both in-house development and external partnerships. The Accelerator publishes challenges, which can be pursued by any external party that has or is capable of developing a solution.

Pfizer is also a part of Icon’s adaptive trial alliance, which seeks to incorporate adaptive trial software to improve the selection of dosages in Phase III of clinical trials, alongside other pharmaceutical partners such as Roche and Novartis.

Notable Investors


No investor data is available

Funding data are powered by Crunchbase
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