Benchsci’s technology already allows them to provide insights into many parts of the clinical research process and make it easier for scientists to discover new drugs. By implementing our solution, Benchsci can further amplify its impact and help scientists maximize efficiency during preclinical research and Phase I clinical trials.
Right now, the field of pharmacodynamics and pharmacokinetics is a $652.8 million market with an expected CAGR of 8.3%. It is the perfect timing for Benchsci to join the space as there is an expected 28% increase in new clinical trials from 2021 to 2022 and push for drug discovery as the world recovers from the COVID-19 pandemic. New methods such as telemedicine also allows for more participants and researchers to conduct clinical trials to find new drugs. By joining the market they have the potential to change the way that Phase I clinical trials are performed, helping scientists pick better dosages and shortening the time needed to perfect the dosage.