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Technology is rapidly changing the healthcare sector, and the opportunities for startup innovation are enormous. In December 2022, we held a roundtable discussion with key experts in the healthcare industry to discuss how clinical trials are evolving and what changes and trends we can expect in the future. . We focused on clinical trials because they are an important part of the development and testing process for new drugs and treatments. Moreover, the recent rapid tracking of the COVID-19 vaccine has resulted in, There is a huge market opportunity for companies that are positioned to continue to innovate in impactful ways.
Untapped Opportunity with Decentralized Clinical Trials (DCT)
A big topic in healthcare today is the acceptance of decentralized clinical trials (DCTs) and the role of telemedicine and telemedicine in these trials. DCT has the potential to improve patient access and convenience, but there are still challenges to be addressed, such as a lack of patient involvement and the need for better data management systems. Kimberly Pospahala said Vice President of Global Sales, Faro Health. Everyone is using sensors and wearables to capture tons of data. What they’ve learned is that patients don’t always want to do these things, and that’s the problem.”
Market gap for improving data quality
Improving the quality of data collected for clinical trials, both remotely and in person, is a huge opportunity. We need better training and education for patients and healthcare professionals, and the development of more reliable and user-friendly digital tools. Alice Hsu, her vice president of clinical technical services at AlphaPrime, commented on how labor-intensive it is to import and export data to perform analyses. Having a unified platform that co-locates all data is critical to ensure data consistency and reduce resources.
The need to improve health equity in DCT
Inclusiveness in clinical trials is an important topic, especially in addressing discriminatory inclusion and exclusion criteria and increasing global representation. This is where social determinants of health (SDOH) come into play. Viber Gupta, Founder and CEO of Pangea Data, emphasizes the importance of a patient’s “zip code” and that the zip code is perhaps the most important SDOH. He added that with the right technology, unfair practices can be seen and remedied.
Nontraditional Entities Entering Space
With many non-traditional players entering the world of clinical trials, innovative technologies are playing a big role in providing at-home options for remote sampling and patient monitoring. Barriers remain and more and more retail pharmacies are trying to fill the gap and offer a ‘closer to home’ service. These provide patients with flexibility and allow them to be monitored with regular visits to their local pharmacy, where measurements can be lost or erroneously obtained and adversely affect the outcome of the trial. Avoid the added burden of using advanced technology in one home.
Continued innovation and collaboration are sorely needed in the clinical trials industry to improve the quality and accessibility of clinical trials for all patients, presenting great opportunities for startups and their customers. Integrate home care, help patients bring their own devices to clinical trials, and improve collaboration between patients, investigators, and sponsors for the holistic patient journey across clinical trials have the opportunity to understand.