Growing industry confidence drives shift in digital strategy for clinical trial sponsors
PALO ALTO, Calif.–(BUSINESS WIRE)–Medable Inc., a leading provider of clinical development technology, today announced 80% revenue growth in 2024 across enterprise customers adopting a SaaS model for portfolio-level electronic clinical outcomes assessment (eCOA) technology investments compared to study-by-study contracts. The striking increase suggests rising industry confidence in the use of digital technology in clinical trials and a strategy shift from tentative, careful adoption to wide scale implementation of eCOA solutions across therapeutic areas, portfolios, regions, and even across the enterprise.
Traditionally, the prudent life sciences industry purchases novel technology incrementally at the study level. Without the economies of scale, this approach often comes with higher service costs. Now, digital trial technologies are proving their merit while patients are becoming more comfortable using digital solutions – for instance, in a recent collaboration with Duke University, Medable studied 24 patients on their preferences with enhanced electronic informed consent (eIC) in trials. The study population was diverse in gender, age, race, and geographic location and 71% preferred the enhanced eIC, saying the digital elements were personable and made them feel more informed, engaged, comfortable, and prepared to participate in clinical research.
Today, eCOA is foundational to technology-enabled trials and by leveraging a SaaS model and shifting purchasing strategy, trial sponsors gain significant cost savings, operational efficiencies, and scalability.
“We are seeing growing evidence of the value of DCT technologies, which is fueling increased industry confidence,” said Andrew Mackinnon, Medable Executive General Manager. “DCT elements, such as eCOA, are making it easier to participate in trials, improving cost efficiencies for trial sponsors up to 13x, yielding better, real-world data, and increasing population representation – as evidenced most recently by a PACT Consortium study where representation of Asian participants increased by six percentage points, native American representation quadrupled, and female representation rose from 49 to 55.7% in DCT-enabled studies.”
Medable has deployed its software-as-a-service platform in more than 300 decentralized and hybrid clinical trials in 70 countries, serving more than one million patients and research participants globally. Customers have achieved impressive results – including 90% eCOA adherence and 50% cost reductions. A Tufts CSDD study also shows that, on average, decentralized trials can achieve net financial benefits from five to 13 times for Phase II and Phase III trials, equating to roughly $10 million ROI and $39 million ROI for an investment on average of $500K in Phase II and $1.5M in Phase III trials, respectively. Recently, the company launched Medable AI and Medable Studio to automatically convert outcomes assessments into fully digital eCOAs in seconds – now accessible on Google Cloud Marketplace.
In related news, Medable announced new data from the Tufts Center for the Study of Drug Development (CSDD)’s PACT Consortium that links decentralized clinical trial approaches to higher participation rates across multiple demographic groups.
Learn more about what is driving sharp eCOA growth at the annual SCOPE meeting (Feb 3-6, 2025) in Orlando, booth #717. Medable will also be presenting with Christina Fawcet, Director of Digital Health Delivery at GSK, on Wednesday, Feb. 5 at 9:55am.
About Medable
Medable is on a mission to get effective therapies to people faster. Its digital clinical trials platform enhances speed, scale, and patient access in clinical research, accelerating medicines for thousands of conditions without treatment or cure. Awarded Best Digital Health Solution by the Galien Foundation, Medable’s platform has been deployed in nearly 400 trials in 70 countries and 120 languages, serving more than one million patients globally. Medable is a privately held, venture-backed company headquartered in Palo Alto, California, and was listed for the second year in a row on the Inc. 5000 in 2024.
Contacts
Media Contact:
Lisa Barbadora, Barbadora INK for Medable
+1 (610) 420-3413
lbarbadora@barbadoraink.com / media@medable.com
