• July 16, 2024

Five decentralized clinical trial organizations raising big VC cash

As the Covid-19 pandemic raged, lockdowns and strained healthcare systems forced many clinical trials to be delayed or to seek ways to contact patients virtually. However, it was also a catalyst for the adoption of DCTs, which provide a way to bridge this gap.

In DCTs, at least some of the trial’s operations take place outside of a traditional clinical trial site​. For example, participants could be screened at home or in a local care facility using digital health technologies such as glucose monitors and wearable sensors.

Compared to traditional clinical trials, DCTs can help clinical trial sponsors to digitize much of the clinical trial operations and documentation to make it easier to share and collaborate between stakeholders. They can also potentially reach more patients than traditional methods, hitting their patient enrollment goals faster and more efficiently.

The market for DCTs was worth around $7.7 billion in 2022 and is predicted to grow by 7.6% per year up to 2033, according to a report​ by Visiongain. Nonetheless, rolling out DCTs effectively requires advanced technology platforms that can handle all of the complexities of running a clinical trial such as logistics, data management, data sharing, patient screening, staff training, and more.

As a result, many venture capital and strategic investors are looking out for disruptive healthtech startups to meet this demand. Here are five companies that have caught their attention, bagging significant venture capital funding rounds in the last few years.

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