The market for technology and services for clinical drug trials is expected to reach $68.9 billion over the next seven years. The trials, which are necessary to bring new healthcare treatments to market, are by necessity prolonged, complicated affairs.
Several companies are vying for a piece of this multi-billion dollar pie with the offer of new digital services that can scour anonymized patient records from hospitals and university research to optimize how candidates for trials are selected, and how trials are monitored and managed.
“A clinical trial is, on average, a journey of 12 years and $2 billion to $3 billion,” says Gadi Lachman, the chief executive of TriNetX — one company that’s working on making the clinical trial process more efficient. “In those twelve