Research shows that the global DCT market will reach $14B by 2026. Research also suggests that up to 90% of clinical trials are at risk of failure. Faulty trial designs, patient retention, costs and flawed data collection are drivers for the failure rate in clinical trials. The risks of study failure are reduced by taking a patient- first enterprise platform approach. Adopting a technology based platform model mitigates risk by putting the patient at the center of clinical trial design. The financial benefits of a patient-first DCT platform are also realized across a portfolio of studies. Up to 5 times the initial investment for phase II clinical trials and up to 13 times the initial investment is shown in the first financial model on patient-first DCT platforms.
The challenges of a study by study approach are soiled systems and inconsistent deployment processes, delayed decision making and disparate data sources, to name a few. A technology platform is not a new concept, but it’s just gaining momentum in the life science industry. We’ll take a deep into how other industries have used technology to realize their true value.
Join Medable's Mohammed Ali, Chief Domain Expert and Shubha Govil, SVP of Product Management,Platform to hear how top pharma teams have adopted digital technology across a platform to reduce costs and accelerate time to market.
Key Learning Objectives:
- Foundations of platform technology approach and how to apply to clinical research
- How a tech model will help you realize the ROI for clinical studies
- What are the benefits to a clinical platform approach over siloed solutions
- Real-world examples of top 10 pharma adoption of a decentralized platform