This is bad news for companies conducting medical research, as participant drop-offs can derail the drawn-out, costly clinical trial process: Human clinical trials take an average of 6-7 years with a price tag of $1 billion to $2.5 billion, Taconic Biosciences. And ongoing clinical trials are already feeling the adverse effects of pandemic-induced delays: For example, LabCorp reported that many participants have dropped out of developing studies as a result of the pandemic, per MobiHealthNews.
However, decentralized trials — or trials executed through telehealth and local healthcare providers — enable remote data collection and telehealth consultation to carry on clinical trial procedures while social distancing guidelines remain in place.
We expect to see pharma companies increasingly forge tie-ups with virtual trial platforms — and we think these tie-ups will outlast the coronavirus pandemic. LabCorp isn't the only healthcare entity aiming to advance remote virtual clinical trials: We've seen other telehealth platforms — like Science 37, for instance — team up with medication adherence firms like AiCure to
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